Veranda Resort Public Company Limited, or VRANDA, has reported a strong response to its vacation homes in Phuket. The latest project, “Veranda Villas & Suites Phuket,” featuring pool villas and condominiums with private pools, has achieved sales exceeding 590 million baht. The first unit transfers are expected to begin in December, alongside the soft opening of the new hotel “Veranda Resort Phuket - Autograph Collection” and the extension “Veranda Collection Samui - Rocky’s Resort” at the end of this year to welcome tourists during the high season.

Mr. Phawatk Ongwasit, CEO of Veranda Resort Public Company Limited (VRANDA), a leader in the hotel, resort, and real estate development business, shared insights on the success of the latest project “Veranda Villas & Suites Phuket.” Located on the southern side of Phuket Island in the ‘Panwa - Ao Yon’ area, this project features 17 units, including 6 pool villas and 11 pool suites, all with sea views. Prices range from 27.5 to 175.9 million baht. So far, 4 pool villas have sold for a total of 385 million baht, while 9 condominiums have sold for 204 million baht, bringing the total sales value to 589 million baht out of a total project value of 882 million baht. The first unit transfers are anticipated in December.

Additionally, VRANDA is preparing to open a new hotel in Phuket, “Veranda Resort Phuket - Autograph Collection,” under the Marriott International brand, featuring 159 rooms with a project value of over 1.5 billion baht. This hotel will have a soft opening in late December. Furthermore, the hotel extension “Veranda Collection Samui - Rocky’s Resort” will add another 20 rooms, set to launch at the end of December, bringing the total number of rooms in Samui to 70, ready to accommodate tourists during the high season.

UOB Kay Hian Securities views VRANDA as having passed its lowest point in Q2/67, with hotel operations improving in Q3/67. The transfer of properties is expected to drive profits in Q4, with a projected turnaround growth of 200% in 2025. The target price is set at 7.20 baht, based on a 10x PER for 2025, while the average stock in the sector trades between 18-31x PER for the next year.