• The Q1 2025 results show robust growth with total revenue of 6.191 billion baht, an increase of 13.6% (YoY). Operating profit reached 3.417 billion baht, up 15.3% (YoY), and net profit was 1.969 billion baht, reflecting a 23% increase (YoY). The company announced a dividend payment to shareholders based on the 2024 performance on May 28, 2025, at a rate of 0.075 baht per share, a 50% increase from the previous year, in line with its ongoing growth strategy aimed at enhancing asset potential to create stable and sustainable cash flow.
  • The portfolio has doubled since 2019, with a total gross asset value of 209.374 billion baht at the end of Q1 2025. Three new projects have been added to the portfolio: Meliá Pattaya Hotel in Thailand, an investment in the Weng Nakhon Kasem project in Yaowarat, and the Le Concord project in Ratchada, which will be developed into the Jubilee Prestige Tower, featuring both office space and the JW Marriott Bangkok Ratchada hotel. This quarter has seen significant growth with over 641 new rooms, a 10% increase, generating immediate cash flow to enhance performance.
  • The hotel segment leverages its strengths to enhance global partnerships, attracting quality tourists with an average daily rate (ADR) that continues to grow impressively at 6,663 baht per night, up 5.8% (YoY), alongside an increasing occupancy rate that continues to set new highs.
  • Plans are in place to continue creating joy with the opening of new projects targeting families at the Marriott Pattaya Resort & Spa, followed by excitement with Jurassic World: The Experience, the world's first at Asiatique The Riverfront, which will add long-term value to Thailand as a sustainable global tourist destination.

Na-Wallapa Traisorat, CEO and Managing Director of Asset World Corp Public Company Limited (AWC), reported the Q1 2025 results, showing strong continuous growth with total revenue of 6.191 billion baht, a 13.6% increase from the same period last year (YoY), and a net profit of 1.969 billion baht, up 23% (YoY). Operating profit reached 3.417 billion baht, growing 15.3% (YoY), with an EBITDA yield of 10.0%, up 13.6% (YoY). The company announced a dividend payment from the strong performance of 2024 on May 28, 2025, at a rate of 0.075 baht per share, reflecting a commitment to providing stable and sustainable returns to shareholders based on the success of its Growth-Led Strategy, which focuses on sustainable growth across all business segments by accelerating the development of assets under development into operational assets and enhancing asset potential to create stable and sustainable cash flow. The company continues to expand its portfolio of quality assets in the hotel and service sectors and the commercial business, including Meliá Pattaya Hotel, the Weng Nakhon Kasem project, Jubilee Prestige Tower, and JW Marriott Bangkok Ratchada, developed under the AWC’s Lifestyle Destination concept, which generates immediate cash flow for the company, strengthening the total asset value to 209.374 billion baht, more than double since 2019, with the operational asset value at 161.567 billion baht, a 7.0% increase from the previous quarter (QoQ), creating significant cash flow growth.

The hotel business segment shows strong growth, generating continuous cash flow.

Despite the volatility and challenges faced by the Thai economy at the beginning of the year, AWC continues to execute its strategic plan to attract quality customers. The hotel and service segment of AWC continues to grow, with quality assets in key tourist locations across the country, generating total revenue of over 3.642 billion baht, an increase of 9.4% (YoY). The average daily rate (ADR) reached a new record high of 6.663 baht per night, up 5.8% (YoY), while the average revenue per available room (RevPAR) stood at 4.992 baht, a 6.0% increase (YoY). Compared to the existing hotel portfolio in 2024, the RevPAR was 5.072 baht, growing 7.7% (YoY), four times higher than the market, and more than 27% higher than in 2019, reflecting strong growth. The operating profit (EBITDA) of the hotel and service segment was 1.497 billion baht, up 6.9% from the same period last year (YoY), driven by growth across all segments, particularly in luxury resort destinations such as Koh Samui and Krabi, which saw RevPAR growth of 10.5% (YoY), while hotels in Bangkok and MICE hotels also performed well compared to the same period last year.

The AWC hotel portfolio remains strong with an average Revenue Generation Index (RGI) of 103, particularly for luxury resorts and hotels in Bangkok, which have RGIs of 119 and 117, respectively. Additionally, revenue from food and beverage operations continues to grow impressively, with "A-YA" Rooftop at The Empire being one of the highest-grossing restaurants, confirming the potential of managing quality assets and collaborating with a global network of partners to effectively reach high-to-luxury quality tourists.

The commercial business segment is strong, driven by the AWC’s Lifestyle Destination model.

AWC continues to build confidence with its tenant partners, achieving a record-high tenant retention rate of 99% in the last quarter, despite a high turnover rate in the overall market. Major global companies continue to trust AWC's unique model, including co-living spaces and lifestyle within office buildings, as well as additional benefits for partners from the hotel group, and a focus on developing buildings under green building standards and safety and structural integrity standards to care for all stakeholders, with a commitment to continuously developing world-class quality buildings.

This has resulted in the commercial segment of AWC showing strong growth, with effective management and development under the AWC’s Lifestyle Destination concept covering both shopping center and office building businesses, further supported by government economic stimulus measures at the beginning of the year. In the shopping center business, after adjusting strategies to meet the lifestyle needs of target groups, such as Pantip Lifestyle Hub in Chiang Mai and Pantip at Ngamwongwan, operational performance has improved continuously in terms of occupancy rates and rental rates compared to the previous year. Meanwhile, the Asiatique The Riverfront destination continues to grow strongly with an increasing number of visitors, aligning with the recovery of occupancy rates and rental rates post-COVID. In the office segment, AWC is focused on developing a Lifestyle Workplace to meet the needs of high-quality tenants in the new era, resulting in total revenue for the commercial segment of 2.386 billion baht, a 16.9% increase from the same period last year (YoY), with operating profit (EBITDA) of 2.055 billion baht, up 17.8% from the same period last year (YoY), contributing to stable cash flow for the company.

Expanding the portfolio of quality assets to enhance Thailand's tourism potential on a global scale.

AWC continues to drive its growth strategy in Q1 2025 by expanding its portfolio of quality assets to support Thailand as a sustainable global tourist destination. Key highlights include the launch of Meliá Pattaya Hotel, the company's first hotel in Pattaya under The Aquatique Destinations Pattaya project, the opening of the InterContinental Club and The I Spa at the InterContinental Chiang Mai Mae Ping Hotel, showcasing the unique Lanna cultural identity to attract quality members from the IHG network to Thailand, and the opening of a new Food Lounge zone at Gateway Ekamai shopping center, significantly increasing visitor numbers to meet the needs of customers in the Ekamai area with mid-to-high spending levels. AWC is also expanding its portfolio in the hotel and commercial sectors with the Jubilee Prestige Tower project, the first large-scale Leisure MICE destination, which will generate immediate cash flow, featuring both office and hotel buildings to be developed into the JW Marriott Bangkok Ratchada, along with the commencement of construction on the Weng Nakhon Kasem Yaowarat project, the largest mixed-use landmark project of AWC, with ample parking space and connectivity to the heart of Yaowarat via electric tram services to promote sustainable tourism.

Additionally, AWC is preparing to create ongoing excitement in Q2 for family customers with plans to launch the Pattaya Marriott Resort & Spa and the Jurassic World: The Experience project, which will create lasting impressions and value at Asiatique The Riverfront destination. These growth initiatives not only reflect the increasing business value of AWC's quality asset portfolio but also reinforce its potential to generate stable and sustainable cash flow in the long term.

Committed to enhancing business potential and sustainability while driving Thailand towards becoming a sustainable global tourist destination under the mission of "Building Better Future For All."

Despite the volatility faced by the Thai economy at the beginning of the year, AWC continues to move forward with its strategic plan, supported by a strong business structure, focusing on high-potential markets, and collaborating with leading global hotel partners with a network of over 650 million quality tourists worldwide. The company diversifies its customer base with a risk distribution strategy and systematic impact management, ensuring sustainable growth in company returns. At the same time, the company prioritizes safety standards; following the earthquake at the end of March, it quickly conducted structural inspections of all projects in the earthquake-affected areas, receiving three levels of certification from internal engineers, partners, and independent building inspection agencies, thereby instilling confidence in safety and gaining trust from partners and customers regarding AWC's properties.

The company is also advancing its business potential through sustainable operations, achieving results according to the Energy Efficiency Plan across all real estate projects in the last quarter, reducing electricity consumption by 4,084 megawatt-hours and utilizing solar energy for 1,098 megawatt-hours, resulting in electricity cost savings of up to 19.4 million baht, equivalent to a reduction in greenhouse gas emissions of 2,590 tons of CO2 equivalent. This includes enhancing waste management efficiency within projects, implementing the reConcept project to promote a circular economy, and increasing support and collaboration with communities through The GALLERY project.

In the last quarter, AWC also received the highest sustainability score globally in the hotel, resort, and cruise industry from the Dow Jones Best-in-Class Indices assessment and has been a member of the S&P Global Sustainability Yearbook for four consecutive years, along with receiving the Thailand’s Top Corporate Brands 2024 award in the real estate development category, reaffirming its position as the real estate company with the highest corporate brand value in Thailand, with a commitment to creating tangible value for stakeholders and inviting partners from all sectors to drive sustainability and create a better future together.