Veranda Resort Public Company Limited or VRANDA is confident in a turnaround for Q1/2567 after ending losses from its dessert business at the end of 2566. The company is poised for full growth, seizing opportunities in the booming tourism industry in 67, preparing to open a new beachfront hotel in Phuket and expand its resort project in Samui, as well as transferring ownership of projects in Cha-am and Phuket in Q4. This supports the target for the core hotel and resort business to grow at least 15%, while the real estate development sector is expected to grow over 100% compared to the previous year.

Mr. Phawatk Ongwasit, CEO of Veranda Resort Public Company Limited (VRANDA), a leader in the hotel, resort, real estate development, and lifestyle business, revealed that the company expects Q1 2567 performance to grow compared to the same quarter last year (YoY) after ceasing to recognize losses from the dessert business “GRAM Pancakes and PABLO Cheese Tart,” operated through its subsidiary PDS Holding Co., Ltd., which holds the main franchise agreement since Q4/2566. Additionally, the company is benefiting from the positive recovery of the tourism sector. During the recent Chinese New Year festival, Veranda's hotels and resorts were fully booked by both Thai and foreign tourists, with the main customers being 36% Thai, 8% Chinese, 7% South Korean, 5% German, 4% Australian, and 40% from other countries.

For the performance in 2566, the company reported total revenue of 1,402 million baht, growing 3%. The hotel segment generated 1,130 million baht, an 18% increase compared to the same period last year (YoY), driven by an increase in foreign tourists visiting Thailand. However, the real estate development business reported revenue of 123 million baht, a 45% decrease due to the gradual transfer of ownership of the Veranda Residence Hua Hin project. The company recorded a net loss of 141 million baht, primarily from recognizing losses from the dessert business and a one-time non-cash impairment of 122 million baht in Q4/2566 to conclude operations.

Mr. Phawatk continued, stating that the Thai tourism industry in 2567 is expected to recover rapidly, supported by positive factors from government tourism promotion measures, airline expansions, relaxed travel measures for foreigners, and the free visa policy for “Thailand-China” starting March 1. This is expected to increase the number of Chinese tourists visiting Thailand by 500,000 to 1,000,000 annually, stimulating the Thai economy. The company aims for hotel and resort revenue of 1,300 million baht this year, growing approximately 15% from the planned opening of a new beachfront hotel in Phuket and the expansion of the resort project in Samui in Q4. Both Phuket and Samui are currently popular tourist destinations. The revenue target for the real estate development business is expected to grow over 100% compared to 2566 from the transfer of ownership of projects in Cha-am and Phuket during the same period.