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Asset World Corporation President Mrs. Wallapa Traisorat Delivers Strong Q1/2024 Results - Travel And Tour World
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Asset World Corporation President Mrs. Wallapa Traisorat Delivers Strong Q1/2024 Results
Asset World Corporation President Mrs. Wallapa Traisorat Delivers Strong Q1/2024 Results
Wednesday, May 15, 2024
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Mrs. Wallapa Traisorat, the Chief Executive Officer and President of Asset World Corporation Public Company Limited (AWC), announced the exceptional operational achievements for Q1/2024. These results were driven by a strategic expansion of high-quality assets, particularly new assets in the Hospitality Business Unit, showcasing remarkable growth compared to 2019. Specifically, the HOTEL EBITDA (excluding Fair Value) soared to THB 1,401 million, marking an 83% increase from the same period in 2019 and a 43% increase quarter-on-quarter, surpassing pre-COVID levels. The Hospitality Business Unit demonstrated robust performance with an Average Daily Rate (ADR) of THB 6,298, Revenue Per Available Room (RevPAR) of THB 4,711, and advance bookings reaching 753,841 nights, the highest since 2019. Quarterly net profit reached THB 1,604 million, a quarter-on-quarter increase of 18.1%, with total revenue rising to THB 5,440 million, up by 10.3% quarter-on-quarter. The Business Unit EBITDA (BU EBITDA) also climbed by 38% compared to Q1/2019. AWC’s growth-led strategy facilitated an over 80% increase in total asset value compared to pre-COVID levels, emphasizing the development of Retail Destination and implementing innovative experiences like ‘Co-Living Collective: Empower Future’ for the Commercial Business Unit. Through global partnerships, AWC expanded its customer base from 400 million to 600 million people worldwide. Moreover, with a freehold asset valuation at 94%, AWC achieved strong cash flow growth, delivering sustainable value to shareholders and stakeholders. In Q1/2024, AWC’s fixed assets totaled THB 149,550 million, with operating assets comprising THB 109,526 million.
Remarkable Q1/2024 Performance
The Hospitality Business Unit excelled in Q1/2024, contributing 61% to total revenue. This growth was driven by Thailand’s expanding tourism sector, attracting more high-end tourists, a key target for AWC. The luxury resorts, Bangkok-based hotels, and other properties outside the capital experienced robust growth in RevPAR and ADR. The occupancy rate reached 74.8%, and HOTEL EBITDA MARGIN stood at 42.1%, a 7.5% increase from the previous quarter and higher than 2019 levels. Efficient cost management led to a 60% year-on-year increase in the Hospitality Business Unit’s EBITDA. AWC’s hotels outperformed competitors in the same category and area, with notable Revenue Generation Index (RGI) figures such as Courtyard by Marriott Phuket Town at 194, Bangkok Marriott Hotel The Surawongse at 175, and Le Méridien Bangkok at 146.
AWC’s Strategic Initiatives
AWC focused on developing, renovating, and enhancing its quality properties, launching leading restaurants like “Hong’s Chinese Restaurant & Sky Bar” in Chiang Mai and “Cafe de Petal” at Athenee Tower. The introduction of the “Pikul” application streamlined customer access to hotel, dining, and lifestyle services. AWC boasted 22 hotels with over 6,029 rooms and more than 80 restaurant outlets across Thailand. In the Retail Business Unit, AWC adapted to changing lifestyles, while the Commercial Business Unit maintained solid revenue levels, supported by Grade A office buildings catering to the hybrid work trend. AWC is set to launch “Phenix” – a ‘World’s Food Wholesale Hub with Largest Food Lounge in Pratunam’ on 26 June 2024, offering seamless online and offline services. “EA Rooftop at The Empire” will feature international-cuisine eateries and Bangkok’s first Nobu outlet, enhancing the city’s global appeal.
Empowering Long-Term Growth
AWC’s GROWTH-LED Strategy focuses on EBITDA growth, transitioning assets to Business As Usual (BAU) stage, and investing in developing assets. The company’s unique business model has strengthened assets worth THB 88,339 million to BAU stage and turned developing assets worth over THB 40,024 million into operating assets. The five-year plan requires an investment of over THB 126,000 million, supported by a robust debt capacity and Growth Fund Model to enhance long-term value. AWC’s vision includes developing “Lannatique” in Chiang Mai as a world-class cultural and lifestyle tourism destination, alongside investments in luxury hotels and innovative experiences to further solidify its position in the market.
“AWC firmly believes in the value of exceptional Thai arts and culture, including the cherished Lanna arts with their longstanding significance. Our shareholders have endorsed investments in ‘Chiang Mai Night Bazaar’, ‘Kalare Night Bazaar’, and ‘The Plaza Chiangmai’ projects, which are integral to ‘Lannatique’. This expansive endeavor will commence the opening of its first phase by the end of 2024, followed by subsequent phases scheduled to be completed within 5 years. It aims to foster the growth of the real estate and tourism industries, promote job creation, and stimulate the local economy to strengthen Chiang Mai’s position as a world-class sustainable tourism destination. Apart from development in Chiang Mai, which has a total investment exceeding THB 11,950 million, AWC plans to further invest in two additional high-quality real estate projects located in prime areas of Bangkok. The OP Garden project is situated in the Bang Rak area, strategically connected to the flagship project, The Plaza Athenee Nobu Hotel and Spa Bangkok, along the Chao Phraya Riverbank to promote waterfront tourism destinations. Operations for this venture are expected to commence around the fourth quarter of 2027. Furthermore, there are hotel projects focusing on wellness planned for the Sukhumvit 38 area, with operations anticipated to commence around the third quarter of 2028. These developments are aligned with the commitment to support Thailand as a sustainable global tourism destination,” Mrs. Wallapa added.
In the first quarter of 2024, AWC excelled in sustainability, showcasing significant accomplishments in promoting Thai tourism internationally. The company achieved the highest rating in the Hotels, Resorts & Cruise Lines sector, placing in the top 1% (Gold Class) according to S&P Global rankings. AWC also earned a spot in S&P Global’s The Sustainability Yearbook 2024. Additionally, AWC secured long-term sustainability-linked loans and formed partnerships with major financial institutions. Notably, the company has transitioned to 100% sustainability-linked loans, underscoring its dedication to the “Building a Better Future” ethos and contributing to Thailand’s reputation as a sustainable global tourist destination.
Step into the sun-drenched setting of the blockbuster ‘Mother of the Bride,’ a favorite among 26.7 million Netflix viewers in its opening weekend. Directed by the acclaimed Mark Waters of ‘Freaky Friday’ and ‘Mean Girls’ fame, this beloved romantic comedy was shot at the luxurious Anantara Layan Phuket Resort and Anantara Mai Khao Phuket Villas. It serves as a heartfelt homage to the captivating island of Phuket, Thailand.
Experience a slice of celebrity life in the opulent Two-Bedroom Royal Villa by Jim Thompson, which served as the home for Brooke Shields’ character, Lana, during the movie’s production. Positioned near the pristine, white sands of Mai Khao Beach, this villa is a testament to Thai artistry, beautifully decorated with premium silk that nods to Jim Thompson, the forefather of the Thai silk industry. For those seeking utmost privacy, the expansive Pool Villa is an ideal choice, equipped with a plethora of plush towels to ensure complete comfort, much like the scene involving Benjamin Bratt’s character, Will.
For those captivated by romance, follow in the footsteps of Brooke Shields and Chad Michael Murray (Lucas) with a serene yoga session by the pool or savor cocktails under the stars at the Tree House. Relive the intense pickleball game featured in the film or treat yourself at the Anantara Spa, where the characters enjoyed rejuvenating mud facials. Explore more of Phuket’s picturesque settings with a gourmet picnic on a secluded beach, a longtail boat trip to the secluded Lover’s Cove, or a shopping day in the charming Phuket Old Town.
And for those enchanted enough to consider a longer stay, Anantara Mai Khao Phuket Villas offers extended-stay packages that guarantee an extraordinary adventure in a setting where luxury is the only scripted element.
The latest addition to Eight Continents Hotels & Resorts, MAATI – Signature Collection by Eight Continents, is making its grand debut in the charming Himalayan town of Nainital. Situated in the heart of the picturesque ‘Lake District’, this resort promises travelers a perfect blend of contemporary luxury and natural beauty. Surrounded by the breathtaking landscapes of Nainital, MAATI aims to redefine upscale hospitality with its top-notch amenities and flawless service.
Nainital, famously known as the ‘Lake District’ and esteemed as one of India’s premier hill stations, casts a spell with its picture-perfect vistas. Nestled in the Kumaon Himalayas at an elevation of approximately 2,000 meters, it enchants visitors with its towering peaks and the serene waters of Naini Lake. Amidst this tranquil setting, MAATI emerges as a sanctuary of lavish tranquility, inviting guests to indulge in an unforgettable retreat.
“We are delighted to introduce this exceptional property to our esteemed guests,” said, Richa Adhia, Managing Director at Eight Continents Hotels & Resorts. “With MAATI – Signature Collection by Eight Continents, we aim to redefine luxury hospitality in the Himalayas, offering unparalleled experiences that resonate with the essence of each destination.”
She further added, “MAATI – Signature Collection by Eight Continents stands as a testament to the brand’s commitment to excellence, offering guests an oasis of luxury amidst the serene beauty of Nainital. From the moment of arrival, guests are enveloped in a world of tranquility, where every need is anticipated and every desire fulfilled.”
MAATI – Signature Collection by Eight Continents embodies the spirit of Nainital, seamlessly blending modern elegance with the natural beauty of its surroundings. Whether guests are relaxing by the picturesque mountain lake or savoring culinary delights, they are treated to a harmonious fusion of luxury and comfort. Every aspect of the resort has been carefully curated to offer an immersive experience, ensuring each moment is flawlessly crafted.
The architecture of the resort harmoniously integrates with its environment, providing breathtaking views of the Himalayas and the shimmering Naini Lake. With 12 uniquely designed rooms inspired by earth elements, each accommodation offers modern amenities and refined furnishings, promising unparalleled comfort and luxury.
Dining at the resort is an indulgent experience, with exquisite dishes ranging from traditional Indian cuisine to international favorites, meticulously prepared with the finest ingredients and served with impeccable attention to detail.
For those seeking relaxation and rejuvenation, the resort offers a variety of wellness activities, including yoga and meditation sessions. Guests can also explore the surrounding area through guided hikes, boat rides, and visits to attractions like the Naina Devi Temple and Snow View Point.
As Eight Continents Hotels & Resorts expands its footprint in the Himalayan region, these new properties exemplify the brand’s commitment to delivering extraordinary experiences amidst awe-inspiring landscapes. Whether craving adventure in the mountains or tranquility by the lakeside, guests can rely on the unmatched hospitality and attention to detail that define the Eight Continents experience.
Club Mahindra, the renowned brand under Mahindra Holidays & Resorts India Limited, proudly announces the prestigious recognition of its Madikeri resort as India’s first triple net-zero-rated resort by the esteemed Indian Green Building Council. This Triple Net Zero acknowledgment encompasses Net Zero Energy, Net Zero Water, and Zero Waste to Landfill, setting a benchmark on par with international standards. This achievement marks a significant milestone in sustainable hospitality for Club Mahindra Madikeri. Committed to achieving carbon neutrality by 2040, Club Mahindra vows to innovate and inspire change.
Net Zero Energy signifies that the resort generates as much energy as it consumes. Through optimal utilization of solar energy and energy-efficient infrastructure, the resort aims to reduce its carbon footprint significantly.
Net Zero Water represents a remarkable feat in water management, promoting conservation and security. Club Mahindra’s initiatives include rainwater harvesting, efficient irrigation systems, and water-saving fixtures, demonstrating its commitment to sustainable practices.
Zero Waste to Landfill certification by TÜV SÜD in FY23 underscores the resort’s comprehensive waste management practices, including segregation at the source, composting, recycling, and other measures, leading to zero waste generation.
Nestled in the picturesque region of Coorg, Karnataka, the resort stands as a beacon of luxury, comfort, and responsible tourism, contributing to the preservation of the planet. Its seamless blend with the lush surroundings supports local flora and fauna. Covering a vast area of 126464.26 square meters, with buildings occupying just 22257.7 square meters, the resort incorporates dense vegetation, insulated roofs, and local materials, reducing the surrounding temperature by approximately 3°C.
Moreover, energy-saving initiatives such as motion sensor-controlled washrooms, regulated geysers, timer-controlled external lights, heat pumps, and BLDC fans have resulted in an impressive energy performance index of 74.4 kW per per square meter per annum, exceeding the benchmark set by the Bureau of Energy Efficiency. Additionally, over 70% of the water is recycled and reused for operational purposes, further highlighting the resort’s commitment to sustainability. The Mahindra Hariyali project has contributed to planting thousands of trees, enriching the region’s natural habitat and attracting diverse bird species, fostering a thriving ecosystem and enhancing the visitor experience with its biodiversity.
Julian Ayers, Chief Resort Officer, Mahindra Holidays and Resorts India Limited, said, “At Mahindra, we recognize the crucial importance of advocacy and partnerships in driving the swift shift towards a sustainable future. Our journey towards a greener future began in 2008. Since then, we’ve embraced a ‘Planet Positive’ approach to sustainability. We’re committed to making our operations eco-friendly, helping industries reduce their carbon footprint, and revitalizing nature. Our unwavering commitment to habitat protection and biodiversity at Madikeri has earned us recognition and honour from the IGBC, reflecting our steadfast dedication. We embrace a global responsibility for safeguarding diverse ecosystems and to achieve carbon neutrality by 2040, we’re committed to innovating and inspiring change within our operations and beyond, as part of Mahindra Holidays’ sustainability journey.”
Mahindra Holidays marks a pioneering milestone as India’s inaugural hospitality firm to join the global initiatives RE100 and EP100. To realize its zero-energy ambition, Club Mahindra has installed an 804 kW solar rooftop photovoltaic plant and solar carports in parking zones. Water conservation endeavors include recycling and reusing over 70% of water, alongside diverting natural streams to a 380 kL capacity pond and constructing 14 Rainwater Harvesting Pits. In waste management, the resort employs a bio-digester to convert food waste into biogas, curbing waste and LPG costs.
These outstanding accomplishments underscore Club Mahindra’s unwavering commitment to sustainability and biodiversity preservation, offering its members unparalleled access to some of the most stunning and exotic destinations, both domestically and globally.
Experience the exquisite Yum Cha Dim Sum affair exclusively at the renowned Empress of China restaurant, nestled in the heart of Eros Hotel New Delhi Nehru Place. Running from May 15th to May 31st, this culinary spectacle promises an unparalleled treat for food enthusiasts, showcasing an array of authentic Chinese dim sum.
The Empress of China is celebrated for its genuine Chinese fare, making it the ideal backdrop for this extraordinary culinary festivity. Patrons will relish the opportunity to indulge in traditional Chinese dim sum amidst a luxurious and inviting ambiance.
Delight your palate with an unlimited selection of dim sum, accompanied by soup and a hearty meal in a bowl, featuring steamed and fried variations brimming with tantalizing ingredients like mushrooms, prawns, chicken, and shrimp encased in delicate dim sum flour sheets. The promotion caters to both vegetarians and non-vegetarians, complemented by an array of chilled beverages.
To further enhance the dining experience, a curated selection of beverages will be available, perfectly complementing the flavors of the dim sum and providing a refreshing respite from the summer heat.
Each offering under ‘Yum Cha Dim Sum’ promises a sensory odyssey, encapsulating the essence of traditional Chinese cuisine with its tantalizing aroma. The menu is thoughtfully curated to deliver a symphony of smoky flavors, addictive textures, and vibrant hues, leaving guests craving for more.
We extend a warm invitation to join us at Eros Hotel New Delhi Nehru Place and indulge in the irresistible dim sum, embarking on a memorable gastronomic voyage through the rich culinary heritage of China. Elevate your dining experience with us.
Location: Empress of China, situated within Eros Hotel New Delhi Nehru Place
Choice Privileges®, the esteemed rewards program by Choice Hotels International, has just announced a groundbreaking global partnership with Air France-KLM. Under this agreement, Choice Privileges’ 65 million members worldwide can now convert their points into Air France-KLM Flying Blue Miles at a rate of 5,000 points for 1,000 miles.
This collaboration opens up a world of possibilities for Choice Hotels customers. They can use their miles to book reward tickets on 167 Air France routes, over 165 KLM routes, and 100 Transavia routes, covering a vast array of destinations across Europe, North Africa, Asia, and beyond. With Choice Hotels boasting over 300 properties in Europe alone, including notable hotels like Zenitude Hôtel la Valadière Ascend Hotel Collection in Montpellier and Quality Hotel Hampstead in London, travelers have ample choices for their stay.
Moreover, Flying Blue Miles offer a range of benefits beyond flight tickets. Members can enjoy cabin upgrades, access to airport lounges, in-flight dining, and increased baggage allowances. Additionally, they gain access to exclusive perks from numerous online retailers through the Flying Blue Store, enhancing their overall travel experience.
Commenting on the new partnership, Nick Bosworth – Director of Marketing, Brand and Loyalty at Choice Hotels EMEA – said: “Choice is committed to offering members around the world unparalleled opportunities to redeem the points they’ve earned by staying at more than 7,000 hotels around the world. Our collaboration with Air France-KLM stands as a testament to this commitment, unlocking even greater value for the 65 million members of Choice Privileges worldwide.”
Benjamin Lipsey, SVP Customer Loyalty at Air France-KLM, added: “With over 20 million members globally, we are constantly evolving our Flying Blue member value proposition. We’re thrilled to collaborate with Choice Hotels to ensure Choice Privileges members can enjoy our wide-ranging Flying Blue reward options, including reward tickets and upgrades.”
Air France-KLM joins Choice Privileges’ expanding lineup of airline partners, joining United Airlines, Southwest Airlines, Qantas, Spirit Airlines, Air Canada, Aeromexico, Alaska Airlines, Virgin Australia, and Turkish Airlines.
Choice Privileges members can earn points for eligible stays at over 7,000 hotels globally, including Cambria®, Clarion®, Clarion Pointe®, Comfort®, Econo Lodge®, Everhome®, MainStay Suites®, Quality®, Rodeway Inn®, Sleep Inn®, Suburban Studios®, and Ascend Hotel Collection® properties across Europe, the Middle East, North and South America, the Caribbean, and Asia.
In the Americas, members can also accrue points at Radisson Individuals®, Radisson Collection®, Radisson Blu®, Radisson, Radisson RED®, Park Plaza®, Park Inn by Radisson®, and Country Inn & Suites® by Radisson properties.
The grand opening of Sofitel Al Hamra Beach Resort, managed by Al Hamra Real Estate Development LLC, marks a new pinnacle of luxury along the shores of Ras Al Khaimah. Nestled within Al Hamara Village, this exquisite 5-star destination seamlessly blends the allure of the Arabian Gulf with the timeless sophistication of French Art De Vivre. Designed by Kristina Zanic Consultants, the resort pays homage to Emirati history while embracing French elegance, resulting in a harmonious fusion of cultures and aesthetics.
The resort boasts 292 rooms and 47 suites, each meticulously designed to offer a bespoke experience. From the Classic King to the Presidential Suites, every accommodation reflects attention to detail and captures the essence of the locale. Guests can indulge in exclusive Dyptique amenities and enjoy breathtaking views of Ras Al Khaimah’s picturesque landscape.
With four beachfront swimming pools and seven exceptional dining venues, including East, Samphire Pool Bar, and the authentic French cuisine of Reunion, Sofitel Al Hamra Beach Resort promises a culinary journey like no other. Club Millesime offers personalized services, while the Le Petit Prince Kids Club ensures families have an unforgettable stay.
For ultimate relaxation, guests can visit the first Sofitel Spa with Clarins or perfect their swing at the nearby Al Hamra Golf Club. More than just a destination, Sofitel Al Hamra Beach Resort celebrates life and invites guests to indulge in an extraordinary experience where French elegance meets Arabian splendor. Your journey to opulence and serenity begins here.
Karim Abdelhamid, General Manager of Sofitel Al Hamra Beach Resort commented, “We are delighted to extend a warm welcome to visitors to this region, celebrated for its breathtaking natural beauty and verdant surroundings. Ras Al Khaimah stands out as a premier destination for residential living, recreational pursuits, and tourism, and the inauguration of The Sofitel Al Hamra Beach Resort, Ras Al Khaimah marks another milestone in the island’s expanding array of top-tier hospitality offerings. Boasting a privileged location, opulent amenities, and hallmark service, the hotel is poised to attract discerning residents of the UAE as well as esteemed figures from Ras Al Khaimah’s local, regional, and international spheres.”
To commemorate the unveiling of Sofitel Al Hamra Beach Resort, we’re delighted to extend a unique invitation with exclusive perks. Upon arrival, enjoy a refreshing welcome drink as a delightful start to your stay. Experience the luxury of a complimentary upgrade to a superior room and the convenience of flexible check-in and check-out times. Indulge in our exquisite dining offerings with a tempting 20% discount on all food and beverage services. Take advantage of these wonderful benefits and create unforgettable moments by the sea.
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