…Grows revenue by 128% in 2024
Capital Hotel Plc, owners of Abuja Continental Hotel, has delivered a strong financial performance in 2024, reflecting significant growth in key financial metrics.
Non-Executive Director, Alhaji Abdulkadir Aminu, who presided at the Capital Hotel Plc’s 44th Annual General Meeting held in Abuja disclosed this in an address presented on behalf of the company’s chairman, Ramesh Kansagra .
He told the enthusiastic shareholders that the company’s revenue rose by 128 per cent to N17.98 billion in 2024 from N7.89 billion in 2023.
According to him, the company’s growth could be attributed to its strategic investments and cost management initiatives, which have positioned it well for sustainable growth in the years to come.
He identified part of the investment to include the hotel’s extensive renovation , complete revitalization of the Ladi Kwali Centre and the addition of a new Paddle Court which are all contributory the increase revenue base of the organization .
“The company’s focus on delivering exceptional services and experiences has earned it a reputation as a top player in the hospitality industry. The company’s commitment to excellence is evident in its attention to detail and dedication to providing exceptional services
The hotel’s state-of-the-art facilities and exceptional service delivery have made it a preferred destination for Meetups, Incentives, Conferences, and Exhibitions (MICE) events. The company’s investments in infrastructure and human capital have paid off, with a significant increase in bookings and revenue,” the chairman noted.
According to him, the company’s strong financial performance is a testament to its resilience and adaptability in a dynamic market, adding that strategic investments and cost management initiatives have positioned it well for sustainable growth in the years to come.
He stated that the company’s Board of Directors, management team, and staff have all played a crucial role in driving the company’s growth and success just as he expressed his heartfelt appreciation to them for their dedication and hard work.
“The company’s outlook for 2025 is positive, with a projected GDP growth rate of 4.17 per cent and a reduction in the fiscal deficit. Capital Hotel Plc is committed to devising and implementing innovative strategies that will empower the company to thrive within Nigeria’s vibrant and constantly evolving economic landscape,” Kansagra pointed out.
He said that the company’s focus on delivering outstanding value to its guests and stakeholders will continue to drive its growth and success, stressing that with its state-of-the-art facilities and exceptional service delivery, Capital Hotel Plc is poised for continued growth and success.
“The company’s commitment to excellence and customer satisfaction will remain its top priority. With a strong financial performance and a growing profile in the hospitality industry, Capital Hotel Plc is well-positioned for a bright and prosperous future,” he posited.
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