Perfect Property Group reports a bright outlook for its hotel business, with tourism on the rise, leading to an expected increase in hotel revenue this year to 4.2 billion baht, accounting for 20% of total revenue from its 7 hotels, which offer a total of 2,077 rooms. The plan for the next two years aims to boost hotel revenue to 5.3 billion baht.

          Mr. Chaiyanit Atthayanasukul, CEO of Property Perfect Public Company Limited, revealed that the hotel business is expected to show remarkable growth this year, partly due to the ongoing expansion of Thailand's tourism industry, which continues to see an increase in the number of incoming tourists. Thailand remains a destination with significant potential and opportunities for tourism, thanks to its diverse resources and strategic location as a hub in Southeast Asia.

          The hotel business is projected to generate 4.2 billion baht this year, a 44% increase from last year. This revenue will come from domestic hotels under Grand Asset Hotels and Property Public Company Limited, amounting to 3 billion baht, up from 1.739 billion baht last year, and another 1.2 billion baht from international hotels, which generated 1.175 billion baht last year. The revenue from the hotel business will increase to 20% of the company's total revenue, compared to 14.8% last year. The group aims to raise hotel revenue to 5.3 billion baht in 2021, anticipating continued growth in foreign tourist revenue. The top five customer groups for the hotels are foreign tourists, including Chinese tourists, followed by Japanese business travelers, U.S. conference attendees, Indian wedding planners, and South Korean travelers, who are evenly split between business and leisure.

          “In the first half of this year, the hotel business has performed well, especially in Bangkok, where the new Hyatt Regency Bangkok Sukhumvit has opened a rooftop bar, leading to increased occupancy rates and higher average revenue per room. Additionally, we have adjusted our strategy to expand our customer base in the MICE (Meetings, Incentives, Conferences, and Exhibitions) sector, as our hotels are well-equipped for meetings in terms of location and facilities. This has increased the ratio of business to leisure customers to 55:45, boosting food and beverage revenue for the hotels, with significant growth potential in the MICE segment,” he stated.

          Currently, the group operates a total of 7 hotels with 2,077 rooms, managed by Marriott and Hyatt. This includes 5 domestic hotels with 1,655 rooms: The Westin Grande Sukhumvit, Royal Orchid Sheraton, Hyatt Regency Bangkok Sukhumvit, Sheraton Hua Hin Resort & Spa, and Sheraton Hua Hin Pranburi Villas. The two international hotels comprise 422 rooms: Sheraton Hokkaido Kiroro Resort and The Kiroro, a Tribute Portfolio Hotel in Hokkaido. Additionally, the group is moving forward with the construction of a new hotel at Mae Phim Beach in Rayong, featuring a mixed-use development that includes a 201-room hotel, condominiums, and pool villas.

 

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