TRANSCORP HOTELS PLC AND HILTON WORLDWIDE CONTINUE TO EXPAND IN NIGERIA WITH THE SIGNING OF TRANSCORP HILTON PORT HARCOURT

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ORLANDO, FLORIDA, USA– 14 October 2014 – Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation of Nigeria Plc,today signed an agreement withHilton Worldwide, to develop a 250 guestroom Hilton Hotels & Resorts-brandedproperty in Nigeria’s garden city, Port Harco​ur​t.

Transcorp Hilton PortHarcourt will be situated at Evo Road in the city and will be a full-service, upscale hotel featuring almost 1,400sqm of state-of-the art conference facilities and meeting rooms, alongside stylish and creative leisure facilities including six restaurants and bars, a gym, spa, pools, and tennis and squash courts, all targeting Nigeria’s burgeoning middle class.

This is the third partnership between Transcorp Hotels Plc and Hilton Worldwide which is creating a portfolio of world-class hotels in the country,including the award-winning Transcorp Hilton Abuja – named Nigeria’s leading hotel – along with the Transcorp Hilton Lagos which is expected to open in 2017.

This announcement ​comes right on the heels of Trancorp Hotels’ initial public offer (IPO) to raise N8,000,000,000 (eight billion Naira) to pat-finance the development of the new hotel projects in Lagos and Port Harcourt. The offer closes on October 17, 2014.

Patrick Fitzgibbon, Senior Vice President, Development, Europe & Africa for Hilton Worldwide, said: “We aredelighted to once again be partnering with Transcorp Hotels Plc and further cementing ourlong-standing relationship to introduce our famous Hilton Hotels & Resorts brand to Port Harcourt.In 2014 the country became the largest economy in Africa, and this fast paced growth is expected to continuefor the coming years. This announcement further strengthens our growing hotel portfolio in the country – within which our core brand Hilton is at the forefront.”

Speaking at the signing ceremony, Managing Director/CEO of Transcorp Hotels Plc, Valentine Ozigbo remarked: ‘We are excited to have achieved such a significant milestone in our hospitality expansion plan. It fully underscores our commitment to excellence​ and​ quality, and ​positions us​to deliver superior returns to our stakeholders. Our long-standing relationship with Hilton Worldwide has been and remains very strategic ​in ensuring that our hotels are or will be market leaders, providing world-class guest experiences and hospitality to suit a diverse clientele base in Abuja, Lagos and Port-Harcourt.”​

Rob Palleschi, Global Head, Hilton Hotels & Resorts said: “With our long-standing success and history in the country, the Hilton Hotels & Resorts brand is well-known across Nigeria’s domestic and international communities. I have no doubt that Transcorp Hilton Port Harcourt will help to reinforce our reputation as the dynamic and innovative brand and forward-thinking global leader of hospitality. It is great to see the growth and success of the brand in this key strategic market.”

With its abundant supply of natural resources, well developed financial, communications and legal sectors and the second largest stock exchange on the continent, Nigeria is regarded as an economic powerhouse within Africa. With this comes ​an increase in the need​ for travel​, leisure and hospitality in various cities​ across the continent​. Hilton Worldwide is strategically positioned to fill ​the​ gap with the creation and development of new hotels and resorts to provide world class hospitality and lasting memories.

Read more about recent and upcoming Hilton Hotels & Resorts openings at http://news.hilton.com/openings. To view an interactive map featuring the Hilton Hotels & Resorts development pipeline visit http://news.hilton.com/map.

Transcorp Hotels Plc

Transcorp Hotels Plc is the hospitality subsidiary of Transnational Corporation of Nigeria Plc (“Company”). The Company 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. The Company also holds 100% interest in Transcorp Hotels Calabar Limited, which owns and operates the Transcorp Hotel in Calabar.

For more information please visit our website www.transcorphotelsplc.com.

Transnational Corporation of Nigeria Plc

Transnational Corporation of Nigeria Plc (“Transcorp”) is a publicly quoted conglomerate with a diversified shareholder base of over 300,000 investors. The Company’s portfolio comprises strategic investments in the hospitality, agribusiness and energy sectors. Our businesses include Transcorp Hotels Plc, owner of Transcorp Hotel, Abuja, Transcorp Hotel Lagos and Transcorp Hotel Port Harcour; Transcorp Hotels Calabar; Ughelli Power Plc, owner of the 950 MW Ughelli power plant; Teragro Commodities Limited, operator of TeragroBenfruit plant – Nigeria’s first-of-its-kind juice concentrate plant; interests oil block OPL 281, in Delta State.

About Hilton Hotels & Resorts

Founded in 1919 as the flagship brand of Hilton Worldwide, Hilton Hotels & Resorts continues to build upon its legacy of innovation by developing products and services to meet the needs of savvy global travelers at more than 550 hotels across six continents. Hilton is the stylish, forward-thinking global leader in hospitality with Team Members shaping experiences in which every guest feels cared for, valued and respected. Access the latest news at news.hilton.com and begin your journey at www.hilton.com or www.hilton.com/offers for the latest hotel specials. View a list of official social channels at www.hilton.com/social. Hilton Hotels & Resorts is one of Hilton Worldwide’s 11 market leading brands.

About Hilton Worldwide

Hilton Worldwide (NYSE: HLT) is a leading global hospitality company, spanning the lodging sector from luxury and full-service hotels and resorts to extended-stay suites and focused-service hotels. For 95 years, Hilton Worldwide has been dedicated to continuing its tradition of providing exceptional guest experiences. The company’s portfolio of eleven world-class global brands is comprised of more than 4,200 managed, franchised, owned and leased hotels and timeshare properties, with more than 690,000 rooms in 93 countries and territories, including Hilton Hotels & Resorts, Waldorf Astoria Hotels & Resorts, Conrad Hotels & Resorts, Curio – A Collection by Hilton, DoubleTree by Hilton, Embassy Suites Hotels, Hilton Garden Inn, Hampton Hotels, Homewood Suites by Hilton, Home2 Suites by Hilton and Hilton Grand Vacations. The company also manages an award-winning customer loyalty program, Hilton HHonors®. Visit news.hiltonworldwide.com for more information and connect with Hilton Worldwide at www.facebook.com/hiltonworldwide, www.twitter.com/hiltonworldwide, www.youtube.com/hiltonworldwide, www.flickr.com/hiltonworldwide, and www.linkedin.com/company/hilton-worldwide.

CONTACTS:

 

Dupe Olusola

Director, Resources

Transnational Hotels Plc

Dupe.olusola@transcorpnigeria.com

 

Daniel Ford

Corporate Communications

Middle East & Africa

Tel: +971 (0)4 3654886

daniel.ford@hilton.com

Jacqueline Toppings

Hilton Hotels & Resorts

Tel: +1 703 883 6587

Jacqueline.toppings@hilton.com