• Q2 2025 performance shows continuous growth with total revenue reaching 5,211 million baht, an increase of 7.7% (YoY), operating profit of 2,723 million baht, up 9.3% (YoY), and net profit of 1,404 million baht, a growth of 12.7% (YoY). This is achieved through a Growth-Led Strategy that recognizes revenue from new assets and diversifies the portfolio while maintaining a strong financial structure.

The debt-to-equity ratio is better than the industry average.

  • The hotel segment generated total revenue of 2,612 million baht, an increase from last year due to revenue recognition from new properties, including growth in luxury resort hotels and significant revenue growth in the food and beverage business. The opening of the Pattaya Marriott Resort and Spa enhances a portfolio that has more than doubled since the IPO, with total asset value at the end of Q2/2025 at 212,616 million baht.
  • The commercial business segment generated stable cash flow by enhancing the strategy of developing shopping centers and office buildings under the concept of AWC’s Lifestyle Destination. The launch of Jurassic World: The Experience and various special experiences in Hatch Dome at Asiatique The Riverfront Destination creates a global phenomenon supporting the strategy to attract tourists throughout the day, increasing revenue and tenant growth, while supporting Bangkok and Thailand as a sustainable global entertainment and tourism hub.

Na-Wallapa Traisorat, CEO and Managing Director of Asset World Corporation (AWC), reported that the Q2 2025 results show strong growth with total revenue of 5,211 million baht, up 7.7% (YoY), and an operating profit (EBITDA) of 2,723 million baht, an increase of 9.3% (YoY), resulting in a net profit of 1,404 million baht, up 12.7% (YoY). The company continues to expand its quality portfolio to enhance the sustainable tourism potential of the country, including hotels like Meliá Pattaya Hotel, Pattaya Marriott Resort and Spa, Swissotel Bangkok Ratchada (preparing to be rebranded as JW Marriott Bangkok Ratchada), and recently launched “Jurassic World: The Experience” and “Hatch Dome,” a new world-class landmark at Asiatique The Riverfront Destination, creating a grand fun experience for families, supporting the strategy to attract tourists throughout the day to increase revenue and tenant growth significantly, along with the growth of revenue from luxury resort hotels that continue to attract high-quality tourists, especially hotels in Koh Samui, and the increasing revenue from the food and beverage business, as well as the strong and stable cash flow of the commercial business segment, which can increase occupancy rates and rental income through enhanced marketing strategies to create a distinctive AWC’s Lifestyle Destination.

This reflects the success of the Growth-Led Strategy that emphasizes expanding quality operating assets through both organic and inorganic growth and efficient cost management under a strong financial structure, with a debt-to-equity ratio of 0.92, which is better than the industry average. Additionally, the portfolio risk diversification strategy helps create stable cash flow for the company amid challenges in the domestic tourism situation, while continuing to drive growth by increasing the quality portfolio to strengthen Thailand as a sustainable global tourism destination, in line with the mission of “Building Better Future For All” to create a better future for everyone.

The hotel business segment shows strong growth even outside the tourism season.

In Q2 2025, the hotel and service business segment generated total revenue of 2,612 million baht, an increase from the previous year, driven by revenue recognition from new properties such as Meliá Pattaya Hotel, Pattaya Marriott Resort and Spa, and Swissotel Bangkok Ratchada, as well as revenue growth from luxury resort hotels that continue to attract high-quality tourists. This resulted in revenue for this hotel segment increasing by 6.9% (YoY) due to higher occupancy rates and average daily rates (ADR), with revenue per available room (RevPAR) growing by 7.1% (YoY), especially in popular tourist destinations like Koh Samui.

With outstanding performance, hotels in Chiang Mai continue to grow, with RevPAR increasing by 8.4% (YoY). AWC's hotel portfolio remains strong with an average Revenue Generation Index (RGI) of 102, particularly luxury resort hotels and hotels in Bangkok, which have RGI scores of 118 and 109, respectively. Additionally, revenue from the food and beverage portfolio expanded by 8.7% (YoY), especially from the “A-YA” rooftop at The Empire. Furthermore, with the potential to attract quality tourists through partnerships with both national and global partners and effective management, the company’s hotels can achieve high gross profit margins, such as Banyan Tree Samui with a gross profit margin of 46% and Bangkok Marriott Marquis Queen’s Park with a gross profit margin of 45%. The company also benefits from government measures to stimulate domestic tourism, with many of its key hotels receiving excellent responses, particularly Hua Hin Marriott Resort and Spa and Pattaya Marriott Resort and Spa, which have high room booking rates.

Moreover, AWC has brought InterContinental Chiang Mai Mae Ping Hotel to receive LEED Gold certification under the 4BD+C: Hospitality standard, making it the first hotel in Thailand to achieve this. The company continues to enhance the tourism appeal of Pattaya by increasing its quality portfolio to create continuous cash flow through the opening of Pattaya Marriott Resort and Spa in the last quarter and recognizing revenue from Meliá Pattaya Hotel and Swissotel Bangkok Ratchada in the Jubilee Prestige Tower project, resulting in a total of 24 hotels with 6,834 rooms at the end of Q2, the highest in the market since the IPO, with an increase of 3 hotels and 930 rooms.

The commercial business segment generates strong cash flow, enhancing the diversity of the quality portfolio and opening world-class experiences like Jurassic World: The Experience and Hatch Dome to become a lifestyle destination for the future.

The commercial business segment continues to generate stable and strong cash flow in Q2/2025, resulting from enhanced marketing strategies under the concept of AWC’s Lifestyle Destination, with rental income growth of 11.6% (YoY) due to an 8.4% (YoY) increase in occupancy rates, particularly in repositioned shopping centers such as Pantip at Ngamwongwan, Pantip Lifestyle Hub Chiang Mai, and Asiatique The Riverfront Destination. Meanwhile, the office business segment also saw rental income growth of 8.8% (YoY) from recognizing the performance of the new office building “Jubilee Prestige Tower,” a quality office project in the heart of Ratchada, while continuing to develop office buildings under the Lifestyle Workplace concept with the launch of The Empire Food Lounge at the “Empire” building, catering to the lifestyle of modern urban dwellers, helping the “Empire” building maintain an outstanding occupancy rate with a retention rate of 99%, reflecting confidence in the potential of world-class quality office buildings. The commercial business segment's strategy focuses on continuous revenue growth through development and repositioning, resulting in an operating profit margin to revenue ratio of 85%, higher than the industry average.

Additionally, the company aims to develop office buildings to receive green building certifications and promote the well-being of users. Recently, four office buildings, including the “Empire” building, Athenee Tower, 208 Bangkok, and Interlink Tower Bangna, received FITWEL certification at Level 2, with the goal of having all four buildings certified under LEED green building standards this year.

AWC continues to strengthen all projects by opening a new “Food Lounge” at Gateway Ekamai shopping center, while Pantip Lifestyle Hub Chiang Mai and Pantip at Ngamwongwan have performed excellently in terms of occupancy rates and rental income growth. The Asiatique The Riverfront Destination has created a global phenomenon with the launch of “Jurassic World: The Experience,” the latest immersive virtual experience in the world, the first in Thailand, along with “Jurassic World: The Experience Fossil & Flame Restaurant,” the first Jurassic World-themed restaurant outside of a theme park, and the “Hatch Dome” zone, which combines learning and entertainment experiences in one place in an Edutainment format, such as “Better World Better Future,” “Fossil Park,” and “Snake Garden,” supporting the growth strategy by attracting tourists to the project throughout the day, increasing revenue and tenant growth, while supporting Bangkok and Thailand as a sustainable global entertainment and tourism hub. Additionally, the project received the “Mall of the Year – Thailand” award from the Retail Asia Awards 2025, reinforcing the potential of Asiatique The Riverfront Destination as a model for a world-class shopping center that seamlessly integrates tourism, learning, and entertainment, reflecting AWC's vision of creating sustainable lifestyle and tourism destinations for Thailand.

Heading into the second half of the year with a strong and flexible strategy.

AWC continues to expand its quality portfolio to enhance Thailand's tourism continuously, preparing to launch quality projects in the second half of the year, including Lannatique Kalare, a new cultural and artistic destination in the heart of Chiang Mai, alongside strong financial management and disciplined cost control, maintaining the leading position in the industry for the most stable financial structure while upholding high financial discipline, which helps reduce risks, enhance flexibility in investments, and support long-term stable growth.

The company also receives positive support from government tourism stimulus measures “Travel Thailand, Half Price,” which helps stimulate demand from domestic tourists, especially hotels in Hua Hin and Pattaya that are highly popular. At the same time, collaboration with global partners with a network of over 710 million quality tourists worldwide also helps increase the proportion of direct bookings to 70%, which is another key factor in driving growth for hotel bookings in the group, particularly in key tourist provinces such as Chiang Mai, Samui, Krabi, and Pattaya, which have seen significant growth in advance bookings.

Building Better Future For All driving a sustainable future for all sectors.

AWC remains committed to its mission of “Building Better Future For All” through the development of projects that create comprehensive value for all stakeholders. The company has been ranked in the Fortune Southeast Asia 500 list for the first time, reflecting the strength of its business at the regional level, and has received the highest sustainability score in the world in the hotel, resort, and cruise industry from S&P Global rankings. It has also been selected as a member of the Dow Jones Sustainability Indices (DJSI) Emerging Markets, FTSE4Good Index Series, and SET ESG Ratings at AA for the year 2024 by the Stock Exchange of Thailand.

In terms of governance, AWC has received ASEAN governance standards certification for the second consecutive year with the ASEAN Asset Class award and has been ranked among the Top 50 ASEAN Public Listed Companies in 2024 based on the ASEAN Corporate Governance Scorecard (ACGS) assessment under the ASEAN Capital Markets Forum (ACMF). Additionally, it received a perfect score of 100% from the annual AGM Checklist assessment for the fourth consecutive year by the Thai Investor Association, reaffirming its role as a leader in sustainable development globally and AWC's commitment to conducting business transparently and adhering to governance principles to create long-term sustainable value for all sectors.