Veranda Resort Public Company Limited or VRANDA has announced its performance results for the first half of 2025, reporting total revenue of 741 million baht and EBITDA of 211 million baht, with a net profit of 55 million baht, representing a 48% increase compared to the same period last year (YoY). This growth is attributed to the hotel business expansion and improved financial cost management. In the second quarter of 2025, the company generated total revenue of 315 million baht and EBITDA of 62 million baht, with a net profit of 12 million baht, marking a staggering increase of 1,679% compared to the same period last year (YoY). The second half of the year is expected to benefit from the "Half Price Thailand Travel" project and the tourism sector entering its high season, with plans to expand the customer base to new long-distance tourists from Europe and the Middle East, alongside the transfer of luxury villas worth approximately 300 million baht in the latter half of 2025.

Mr. Phawat Ongwasit, Chief Executive Officer of Veranda Resort Public Company Limited or VRANDA, a leader in the hotel, resort, real estate development, and lifestyle business, stated that the overall performance for the first half of 2025 (January-June) showed total revenue of 741 million baht, a slight decline of 4%. However, this includes revenue from the hotel business (core business) of 704 million baht, which grew by 17%. EBITDA stood at 211 million baht, and net profit was 55 million baht, up 48% compared to the same period last year (YoY).

In the second quarter of 2025, total revenue was 315 million baht, down 10%, with EBITDA at 62 million baht, a decrease of 16% compared to the same period last year (YoY), but net profit was 12 million baht. Despite a significant slowdown in Chinese tourists traveling to Thailand, which is expected to be the lowest point of the year, the company has effectively managed financial costs, resulting in financial income of 63 million baht, an additional special item in this quarter.

The growth of the hotel business in the first half of 2025 is attributed to the opening of the Veranda Resort Phuket, Autograph Collection, with 159 rooms, and the expansion of the Veranda Collection Samui - Rocky Resort by an additional 20 rooms, totaling 70 rooms. Since late last year, there has been a steady increase in bookings from both Thai and foreign tourists, although March 2025 faced pressure from an earthquake event and a significant decline in Chinese tourist arrivals in the second quarter of 2025. Nevertheless, the company has seen signs of recovery with increased hotel bookings in the Veranda chain for the third quarter of 2025.

Additionally, the strategy to expand the customer base from Europe and the Middle East is in place to align with the Tourism Authority of Thailand's (TAT) focus on quality tourism from long-distance travelers. Recently, it has been noted that the number of such tourists traveling to Thailand has increased, including a 125% rise from the United States, a 33% increase from Germany, and a 9% increase from the United Kingdom compared to the same period last year.

For the second half of 2025, VRANDA will continue to focus on expanding its customer base from Europe and the Middle East, alongside marketing to Thai tourists. The company will benefit from the "Half Price Thailand Travel" project, resulting in hotel revenue growth in July, even though the number of foreign tourists traveling to Thailand this month has decreased by 16% compared to last year. Furthermore, the fourth quarter will enter the high season for the tourism business. Additionally, in the second half of the year, there will be property transfers for sale amounting to approximately 300 million baht from a backlog totaling 756 million baht.