Since leaving the United Bank for Africa Plc, a few years ago, where she was the Group Head, Marketing, to join Transcorp Hotels Plc, Modudupe Olusola has made an impressive impact in the Nigeria hospitality sector.
Under her watch as managing director/CEO, Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc (Transcorp), which is also a major player in the burgeoning Nigerian hospitality industry, the company has grown to become a benchmark for success, across hotel business growth and operation indices.
Riding on her wealth of experience in leadership spanning over two decades and strategic development, she has sustained the growth of brands and properties under Transcorp Hotels Plc, particularly, Transcorp Hilton Abuja, which is still the foremost five-star hotel in Nigeria and the benchmark of hospitality excellence since April 21, 1987 when it opened its door to its first guest.
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Many hospitality experts acknowledged her doggedness during the COVID-19 pandemic when hotel occupancy fell to just 5 percent. The seemingly helpless situation did not deter her as she proved herself by leading Transcorp Hotels Plc back to profitability faster than most of the world’s hospitality companies.
She returned the hotel company to profitability in 2021, reporting a profit of N1.7 billion, after recording over N10 billion loss in 2020 caused by the Covid pandemic and the continent’s economic problems.
Year-on-year, the company’s performance under Olusola’s watch has been impressive with the share price growing over 600 percent in 2023. Most importantly, the company has set a record in the Nigerian hospitality industry as the most capitalized hospitality company with N1 trillion market capitalization as well as finished the year 2023 as the Best Performing Stock on the Nigerian Exchange.
Considering its year-on-year impressive and sustained growth, Transcorp Hotels Plc now enjoys the recognition of being listed as one of the fastest growing companies on the African continent.
The list, which was authored by Financial Times in partnership with Statista, highlighted 125 businesses that survived the Covid pandemic and some of Africa’s toughest economic problems.
She also brings to bear her deep knowledge of corporate and retail market economics as well as expertise in identifying opportunities, delivering strong revenues and profits, and positioning businesses for sustainable growth in competitive markets in the management of the hotel subsidiary.
The above explains the reason Transcorp Hilton Abuja is the most sought-after venue for major events of international repute, as well as the accommodation of choice for the most respected individuals in business and government.
In a bid to handle overflows from the sustained patronage, in November 2023, the hotel management set up marquees within the premises of Transcorp Hilton Abuja and became the preferred venue for events in Abuja, all because of Olusola’s ingenuity.
She is also overseeing the hotel company’s expansion with the development of a 315-room 5-star hotel in Lagos and the launch of a 5,000-capacity state-of-the-art event center in Abuja, aimed at harnessing more opportunities in the MICE sector.
Aura, its online platform, has been impressive also.
With all these strides, she deserves to be called a ‘Hospitality Amazon’, which truly she is.
The strides also come with some recognitions. Since assuming office, the hotel company has won over 40 awards, while she has also won several.
Her strides have been noticed and acknowledged by the Africa Hotel Investment Forum (AHIF), Africa’s biggest hospitality industry platform, which recently honoured her with a Leadership Award.
Read also: Transcorp Hotels breaks all-time revenue record in Q1 2024, achieves 844% PAT growth
“I am deeply honoured to receive the Leadership Award at AHIF. This recognition is a testament to the incredible dedication and hard work of the entire Transcorp Hotels team,” she said on receiving the award.
Also, recently, Olusola was appointed to the Save the Children UK’s Africa Advisory Board.
Explaining the rationale for Olusola’s appointment, Save the Children; world’s leading independent organisation for children, dedicated to ensuring that every child has the opportunity to thrive, noted that Olusola’s commitment to excellence and passion for transformative change align with the organisation’s core values and objectives.
Olusla, who is also a member of the advisory board of the Africa Hospitality Investment Forum (AHIF) and a member of the Board of Directors, United Capital Microfinance Bank, has also been recognized as CEO of the Year for her quality leadership, among other business acumen that have sustained growth at Transcorp Hotels Plc.
In all, Olusola gives credit to her team of credible professionals as the giant strides have been a result of teamwork.
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