Hilton and Transcorp Hotels sign 20-year extension for Transcorp Hilton, Abuja * Hotel remains under Hilton Hotels & Resorts’ flagship

Transcorp Hotels Plc, a subsidiary of Transnational Corporation of Nigeria Plc (Transcorp Plc), on Wednesday, announced the signing of a 20-year extension to the current agreement to manage the iconic Transcorp Hilton hotel in Abuja.
The agreement will see Hilton manage the property until 2037. The hotel, which is a national landmark for having hosted countless heads of state and global events, like the World Economic Forum on Africa, has been operated by Hilton since its opening in 1987.
Speaking at a signing ceremony in Washington DC, Chris Nassetta, Hilton’s President and CEO, said: “We have had an incredible relationship with the Transcorp team and we are happy to announce that we will continue to grow that relationship throughout the next 20 years. With our mission to be the world’s most hospitable company, I am delighted we will be able to continue welcoming guests to this hotel until at least 2037.”
According to a statement signed by the hotel and made available to The Daily Times, “The award-winning 667-room hotel-one of the largest in sub-Saharan Africa–is currently undergoing a multi-million dollar renovation which will transform the property. The extensive refurbishment will continue the Transcorp Hotels legacy as the leading provider of hospitality in Nigeria.”
Chairman of Transcorp Plc, Tony O. Elumelu the largest listed conglomerate on the Nigerian stock exchange and owners of hospitality subsidiary Transcorp Hotels confirmed: “We are delighted to continue our long-standing owner-operator relationship with Hiton. Our investment in the renovation reflects our commitment to shaping Nigeria into a leading hospitality centre in the West Africa region and with Hilton as our operating partners, we are confident that we will continue to lead in the sector.”
According to the statement, “Hilton and Transcorp Hotels have two additional propertiesin the development pipeline. Furthermore, Hilton expects to open six hotels in the next six months across Africa, and open properties in 15 countries where it currently does not operate in the next three years.
“Also at the signing ceremony, Valentine Ozigbo, CEO of Transcorp Hotels who leads the management of the relationship between the owners and Hilton, commended Hilton for their clear commitment to delivering excellence and restated the owners’ commitment to continue to use technology and products to develop the hotel as a destination not just for high-end clientele, but also for those travelling to Abuja for business and leisure.
“Hilton, which has more than 5,000 hotels globally, has had a continuous presence in Africa for more than 50 years, expects to more than double its current presence across the continent in the next five years.”
Hilton is a leading global hospitality company, with a portfolio of 14 world-class brands comprising more than 5,100 properties with nearly 838,000 rooms in 103 countries and territories. Hilton is dedicated to fulfilling its mission to be the world’s most hospitable company by delivering exceptional experiences – every hotel, every guest, every time.

Whereas, Transcorp Hotels Plc (“Company”) is the hospitality subsidiary of Transnational Corporation of Nigeria Plc and owns and operates Transcorp Hilton Abuja, which provides luxury accommodation, world-class cuisine, conferencing and leisure facilities to business travellers and tourists from all over the world, Transnational Corporation of Nigeria Plc (“Transcorp”) is a publicly quoted conglomerate with a diversified shareholder base of over 300,000 investors.