S Hotels and Resorts Achieves Record Revenue in 2024

S Hotels and Resorts PCL, a subsidiary of Singha Estate PCL, has announced a remarkable financial performance for 2024, with a total revenue of 10.352 billion baht.

The surge in revenue illustrates the strong recovery in global tourism demand. The company reported a fourth-quarter net profit of 147 million baht, more than doubling the results from the previous quarter. This growth is linked to the rapid renovation completion at SAii Laguna Phuket and a robust recovery of its property in Mauritius.

CEO Michael Marshall stated:

“The substantial performance growth this quarter reflects the resilience and potential of SHR’s portfolio, and validates the company’s robust business development approach.”

The fourth quarter brought in 2,606.7 million baht, fueled by new vacation experiences successfully launched at SAii Laguna Phuket. This also resulted in a room rate increase exceeding 30% and saw the full operational recovery of the Outrigger Mauritius Beach Resort.

SHR’s overall performance outlook remains strong, with anticipated continued growth evidenced by expanded advance room bookings, particularly in Thailand, where the RevPAR increased by 25% year-over-year.

Marshall concluded:

“The promising starts in January serve as an important foundational step in our pursuit of this year’s strategic goals. This is a result of the collective dedication of everyone at SHR in delivering exceptional guest experiences.”

Highlights:

• SHR’s total revenue reached a record high of 10,352 million baht, a 7% YoY increase.
• Net profit for the fourth quarter surged over 130% compared to the same period last year.
• Plans to renovate three additional hotels in the UK are underway to elevate asset quality and service standards.