Dupe Olusola’s Impact on Nigeria’s Hospitality Industry
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- July 28, 2024
Over the years, the hospitality industry in Nigeria has experienced significant growth by evolving from being a growing sector to a thriving cornerstone of the nation’s economy. This growth was triggered by some factors, which include increased tourism, enhanced infrastructure, and a dedication to excellence. Concurrently, women’s roles in the corporate world have changed, with more of them taking on leadership positions in fields like hospitality that men have historically dominated. These changes have played a critical role in creating a more inclusive and dynamic industry.
Dupe Olusola, the dynamic Managing Director and CEO of Transcorp Hotels Plc is a prime example of this kind of leadership. She has demonstrated her adaptability and tenacity throughout her career journey. She began her career in the banking sector at the United Bank for Africa (UBA) as the Group Head of Marketing. Later, she transitioned to the agribusiness sector as the Managing Director and CEO of Teragro Commodities Limited, a division of Transnational Corporation of Nigeria Plc (Transcorp Plc). Olusola became the second woman to run Transcorp Hotels Plc when she was appointed as Managing Director and CEO in 2020.
Under her direction, Transcorp Hotels has prospered. Olusola has brought new ideas and creative approaches to the table, and she has even skillfully and gracefully handled the difficulties of working in a male-dominated field.
Dupe Olusola was recently honoured with the prestigious Hospitality Leadership Award in Windhoek, Namibia, by the Africa Hospitality Investment Forum (AHIF). The award comes barely two weeks after she was appointed to the Africa Advisory Board of Save the Children United Kingdom, underscoring her remarkable influence and leadership in the hospitality industry and beyond. This leading woman continues to set new benchmarks, driving excellence and innovation while championing important causes on the continent.
In this interview with THEWILL DOWNTOWN’s Executive Editor, Onah Nwachukwu, Dupe Olusola discusses her career, achievements, setbacks, and the hospitality industry.
What inspired your transition from the banking sector to agribusiness and the hospitality industry?
My transitions were inspired by a strong desire to leverage my skills in different sectors and make a meaningful impact. I love to work. I love to add value and achieve results. I am transformation-focused and I never think about the sector so long as I am making an impact and driving growth. Working in different sectors has taught me so much, and has contributed immensely to who I have become. I am grateful to have found fulfillment and to have been able to make a meaningful impact across different industries.
How do you see the role of women evolving in the corporate world, particularly in traditionally male-dominated sectors like hospitality?
There is still a lot of room for women. This is not downplaying the impressive growth we have witnessed in recent times. However, women need to constantly put themselves out there to exploit opportunities to add value and deliver. Women must also invest in themselves; this is very important! No experience or opportunity that challenges or stretches them should be passed on. Once we have this mindset, it allows us to get more women at the table. Gone are the days when gender roles decided what jobs in hospitality were best suited for women; we have and are continuing to create a society where women experience a wider scope of the industry and have the power to choose which path they wish to follow. Generally, the role of women in the corporate world is evolving positively and rapidly. I am happy that women are increasingly recognised for their expertise and contributions. With ongoing efforts towards gender equality, support systems, and recognition of women’s contributions, I am optimistic that we will continue to see significant progress and an even playing field for all.
How do you balance innovation and tradition in managing a company like Transcorp Hotels, which operates in an industry with deep-rooted customs and practices?
Innovation is essential for growth and we fully embrace it because the only constant thing in life is change. However, we also embrace tradition and culture, ensuring we properly communicate this to all our employees. There are practices we hold dear; traditions that we have upheld for decades. However, as new systems, technology, and other tools are introduced, we do not shy away from evolving with them. Our goal is to continually improve our processes if and when needed to create value for our stakeholders. Balancing innovation and tradition involves respecting the rich heritage of hospitality while embracing modern technology and practices. At Transcorp Hotels, we invest in digital solutions to enhance guest experiences, streamline operations, and stay competitive. Simultaneously, we ensure that the core values of excellence, execution, and enterprise guide our approach to providing warmth, personalised services, and great experience to our esteemed guests.
In your experience, what are some key factors driving success in the hospitality industry, and how have they evolved over the years?
Key factors driving success include exceptional customer service, consistent quality, innovation, and excellence. Over the years, the industry has evolved to prioritise personalised guest experiences, sustainability, and the integration of technology. Adapting to these trends while maintaining high standards of service is essential for continued success, understanding that our guests are our number one priority. Likewise, at Transcorp Hotels, our ability to adapt to changing market conditions, offer exceptional services, invest in technology and innovation, build strong relationships with guests and stakeholders, and maintain a strong brand image, have all helped us to stay ahead of the competition. We are consistently investing in the welfare and training of our staff to ensure they can uphold the quality of luxurious hospitality we are known for. We are always listening to the feedback of our guests, ensuring that their preferences are considered in all we do.
As someone with a background in marketing, how do you approach branding and customer experience in the hospitality sector, where reputation is paramount?
The true essence of hospitality is to deliver excellence and unique experiences. Our brand, Transcorp Hotels Plc, is known for delivering exceptional experiences to our different guests, bearing in mind that each customer is unique. Our approach to branding and customer experience relies heavily on consistency. Consistency in the promise and value we are communicating, consistency in our delivery across all touch points. Hospitality is personal. Hence, we continue to improve our data gathering and analysis to ensure we can continue to personalise experiences to the best of our abilities without compromising on quality. It is critical to remember that our success is dependent on trust and our stakeholders are our brand ambassadors who must trust us. Therefore, we continuously gather and act on their feedback. Effective marketing strategies combined with a relentless focus on customer satisfaction help maintain our stellar reputation.
How do you see the future of the Nigerian hospitality industry, considering factors like technology, changing consumer preferences, and global trends?
The future of the Nigerian hospitality industry is bright, with technology playing a pivotal role in enhancing guest experiences and operational efficiency. Changing consumer preferences, such as a demand for sustainable practices and unique local experiences, will shape the industry’s offerings. I see more progress towards unique and niche accommodation. I see more asset-light strategies being developed and new experiences being created in the hospitality sector. Hospitality does not only speak to hotels but also restaurants, tourist attractions, events, and more. The COVID-19 pandemic awakened something in the sector; we are now in a time where things are done differently and executed excellently. In 2021, we launched Aura by Transcorp Hotels, our asset-light strategy that allows users to book unique homes, hotels, and experiences across Nigeria. Domestic tourism and staycations are here to stay, and I look forward to seeing how we explore the beauty and cultures of our nation. For example, leisure has become an integral revenue stream for us at our flagship property, the iconic Transcorp Hilton Abuja. Across the hospitality sector, we now have contactless check-in experiences, waiting robots, nightlife experiences that differ from place to place, and pods, a new accommodation style in Asia. AI is another innovation that is here to stay and I am excited for how we can effectively integrate these innovations to provide better services and experiences to our guests. I am also excited about the potential of the hospitality industry, already a major employer of labour, to create more jobs and contribute to the diversification of our economy.
What do you consider to be your greatest accomplishment or proudest moment in your professional journey so far?
Growth! The ability and the opportunity to open myself up to learning and continuous growth. Looking back and never felt like my journey was static. These are the things I hold dear. But we can also talk about the continuous improvement in our company’s diversity and inclusion efforts, resulting in better employee satisfaction, engagement, and increased profitability. This year, we have won the Hofstede Insights Award for Diversity, Equity, and Inclusion for the 4th consecutive year, beyond the several brand awards and accolades. Another great achievement considered by many by far the greatest is leading Transcorp Hotels Plc back to profitability after the COVID-19 pandemic. In 2020, we lost about N1bn every month and ended the year with a loss of more than N10bn. Recovery did not seem in sight, but through innovation and commitment to our core values, we turned the corner and returned to profitability in 2021. This same company has continued to grow impressively and was earlier this year listed by the Financial Times as one of the fastest-growing companies in Africa.
What are some of the most rewarding aspects of leading a company like Transcorp Hotels, and what keeps you passionate about your work?
I am very grateful for my team and the guests that we serve. They make it all worth it. I am also very fortunate to be working in a diverse group where I have enjoyed great exposure, experienced several industries, and had the opportunity to learn and contribute.
Another rewarding aspect of my job is the opportunity to lead and inspire others. I take pride in creating a culture of excellence and empowering my team to achieve their full potential. Seeing my team succeed and grow is incredibly rewarding and motivating. Since I became the Managing Director/CEO of Transcorp Hotels Plc, I have led my team out of one of the most challenging times in the company’s history to posting some of the best results the company has ever recorded. The great performances also came with awards; we won several awards over the years. Another rewarding factor is the opportunity to innovate and positively impact people’s lives through exceptional service. What keeps me passionate is the continuous pursuit of excellence and the desire to create memorable experiences for our guests. Every day brings new challenges and opportunities, making the work dynamic and fulfilling.
How do you maintain a healthy work-life balance while leading a prominent organisation like Transcorp Hotels?
Some say work-life balance is a myth; I prefer to call it work-life integration. You can never really balance it all because, based on your priority scale, one aspect of your life will trump the other. As an executive, wife, mother, daughter, friend, and as Dupe Olusola, I try as much as possible to prioritise and make sure I surround myself with people who genuinely care and are supportive of me, so they understand when I cannot give 100%. No matter what you do and who you are, there are only 24 hours in a day, but with the help of my family and team, I can effectively prioritise and integrate my personal life and work life. It is no easy feat however, with the right mindset and willingness to succeed at it, everyone can do it. Maintaining a healthy work-life integration requires prioritisation, delegation, and self-care. Allocate time for family, hobbies, and relaxation, just as you do for work responsibilities. It’s about finding harmony between professional commitments and personal well-being, and being mindful of when to step back and recharge.
What role do you believe mentorship plays in career development, and have you had any influential mentors throughout your journey?
Mentorship is crucial for career development. It provides guidance, support, and insights that can help navigate challenges and seize opportunities. I believe mentoring is top-down, bottom-up, and also sideways. I’ve been fortunate to have influential mentors who have shaped my thinking, encouraged my growth, and inspired me to strive for excellence. My mother, for example, always encouraged me to pursue my passions and never let anyone tell me that I couldn’t achieve my goals. My grandmother was also a great inspiration to me – she was a trailblazer in her field and never let the fact that she was a woman hold her back. Mentorship has been a cornerstone of my career, and I believe in paying it forward by mentoring others.
How do you personally define success, and how has your definition evolved throughout your career?
First off, I would like to establish that success is relative as it means different things to different people. For me, success is being your authentic self and constantly seeking growth in all ramifications, producing great results. Success to me is having a well-rounded life, socially, emotionally, spiritually, mentally, physically, and financially. Success is pushing boundaries and redefining the status quo as an individual and a team to meet and exceed set objectives. My definition of success has evolved throughout my career as my goals have also evolved. With more experience, more wisdom, and more insight, your definition of success ultimately changes. It’s about creating value and leaving a legacy that resonates beyond professional achievements.
Looking back on your career journey, what advice would you give to your younger self?
Hard work pays off! Don’t take no for an answer, continue to push boundaries. Be open to opportunities that come your way and do not let the fear of failing keep you from taking a chance on things, do it afraid. It is better than not doing it at all. Embrace every opportunity to learn and be resilient in the face of challenges. Stay true to your values and passions. Be adaptable, and seek out mentors. Trust the process and enjoy yourself while at it. Also, you are not an island; there is a limit to what you can do alone. Network and collaborate with like-minded people, and foster strategic partnerships for optimal growth. True wealth is in relationships. Above all, live your best life today. Maintaining a balance between ambition and well-being is key to a fulfilling career.
A lawyer by training, Onah packs over a decade of experience in both editorial and managerial capacities.
Nwachukwu began her career at THISDAY Style before her appointment as Editor of HELLO! NIGERIA, the sole African franchise of the international magazine, HELLO!
Thereafter, she served as Group Editor-in-Chief at TrueTales Publications, publishers of Complete Fashion, HINTS, HELLO! NIGERIA and Beauty Box.
Onah has interviewed among others, Forbes’ richest black woman in the world, Folorunso Alakija, seven-time grand slam tennis champion, Roger Federer, singer Miley Cyrus, Ex Governor of Akwa Ibom State, Godswill Akpabio while coordinating interviews with Nigerian football legend, Jayjay Okocha, and many more.
In the past, she organised a few publicity projects for the Italian Consulate, Lagos, Nigeria under one time Consul General, Stefano De Leo. Some other brands under her portfolio during her time as a Publicity Consultant include international brands in Nigeria such as Grey Goose, Martini, Escudo Rojo, Chivas, Martell Absolut Elix, and Absolut Vodka.
Onah currently works as the Editor of TheWill DOWNTOWN.
