Celebrating Dupe Olusola’s Transformative Leadership 

Nume Ekeghe

As Transcorp Hotels Plc prepares to welcome its new Managing Director/Chief Executive Officer effective January 1, 2025, it is only fitting to reflect on the remarkable and transformational leadership of Mrs. Dupe Olusola. Over her tenure of four years and nine months, Olusola redefined the trajectory of the company, elevating it from resilience during global upheavals to a beacon of innovation and excellence in Nigeria’s hospitality industry.

Steering Through Global Crisis

When Olusola assumed leadership in April 2020, the world was reeling from the devastating effects of the COVID-19 pandemic. The global travel industry was at a standstill, and the hospitality sector faced existential challenges. Transcorp Hotels was no exception. However, under her leadership, the company not only weathered the storm but also emerged stronger, setting benchmarks for recovery, innovation, and growth.

During her first year as MD/CEO, despite the pandemic’s economic toll, Transcorp Hotels Plc recorded N9.6 billion in revenue in 2020. This resilience was underpinned by her visionary approach to crisis management. Olusola spearheaded the implementation of world-class health and safety protocols, launched initiatives to attract domestic travelers, and introduced innovative services tailored to the new realities of the industry.

Post-COVID Recovery and Growth

As the world began to recover, Olusola guided Transcorp Hotels through a period of exceptional growth. By 2021, the company achieved a staggering N20.6 billion in revenue and N574 million in profit, signaling a robust recovery. This success continued in 2022, with revenue reaching N30.4 billion and profit after tax amounting to N3.1 billion.

Key achievements during her tenure included the groundbreaking of a state-of-the-art 5,000-capacity event center, which is set to redefine large-scale events and conferences in the region. Olusola’s vision for the project was clear: to make Transcorp Hotels a central hub for global and regional gatherings.

In 2023, the company recorded its highest-ever annual performance with N41.4 billion in revenue and N5.6 billion in profit before tax, achieving an 81 per cent occupancy rate, a testament to Olusola’s strategic foresight and operational excellence.

Transforming Market Perception

One of Olusola’s most significant achievements was the transformation of Transcorp Hotels Plc’s market valuation. When she took office, the company’s share price stood at N51.30. By the time of her departure, it had risen to N116.00, a remarkable increase of 126.12 percent. This growth reflected investor confidence and the value she created during her tenure.

Recognition and Awards

The company flourished under her leadership, earning nearly 40 prestigious awards across multiple categories. These included Africa’s Leading Business Hotel, Nigeria’s Leading Hotel, and Nigeria’s Leading Hotel Suite at the World Travel Awards for consecutive years from 2020 to 2024.

In 2022, Transcorp Hotels won the Seven Stars Luxury Hospitality and Lifestyle Award for Best Luxury Hotel in Nigeria and Best Luxury Business Hotel in Africa. Additionally, Zuma Grill Restaurant, one of the company’s offerings, was celebrated at the World Luxury SPA Awards.

By 2024, the company earned the title of Most Gender Diverse NGX-30 Brand by PWR Advisory and was recognized as one of Africa’s Fastest Growing Companies. It also claimed the top spot on TripAdvisor and received the Nigeria’s Best Hotel Restaurant award at the World Culinary Awards.

Advocacy and Global Representation

Beyond operational successes, Olusola became a global advocate for Africa’s hospitality industry. She represented Transcorp Hotels Plc at the Africa Hospitality Investment Forum, where she championed investment opportunities and resilience in Africa’s hospitality sector. Her thought leadership positioned Transcorp Hotels as a pioneer on the global stage and attracted international investors’ attention to the untapped potential in the Nigerian market.

Personal Achievements and Accolades

Olusola’s leadership excellence earned her numerous personal accolades, cementing her status as a trailblazer in the industry. In 2020, she was named Seven Stars Woman of the Year and subsequently received awards such as CEO of the Year (Leadership Newspaper, 2023) and the Guardian Wonder Women Award for Innovative Entrepreneurship in 2024.

Her consistent advocacy for gender equity and her commitment to fostering talent saw her inducted into the Seven Stars Pantheon of Hospitality in 2024, a recognition that honors individuals who redefine excellence in the global hospitality landscape.

Corporate Social Responsibility and Community Impact

Under Olusola’s leadership, Transcorp Hotels also made a significant impact beyond business metrics. She championed sustainability and community empowerment initiatives, such as fostering youth leadership, promoting diversity, and creating opportunities for women. These efforts reinforced the company’s role as a socially responsible corporate entity.

Leaving a Legacy

As Transcorp Hotels Plc transitions to a new chapter Dupe Olusola’s legacy will remain a cornerstone of the company’s future. Her strategic vision, operational excellence, and ability to inspire her team have not only transformed Transcorp Hotels but also set a new standard for leadership in Nigeria’s business landscape.

From navigating the unprecedented challenges of a global pandemic to achieving record-breaking growth and earning international acclaim, Olusola’s tenure has been a masterclass in resilience, innovation, and transformative leadership. Her story will continue to inspire, and her legacy will remain a beacon of excellence in the hospitality industry for years to come.