BANGKOK, March 14, 2022: Centara Hotels and ResortsThailand’s leading hotel operator, unveiled its recent business performance, expansion plans and strategic direction for the future, including several new hotels, new destinations and new brand concepts.
This exciting era of growth will help the group achieve its long-term goal of becoming one of the world’s top 100 hotel operators within five years – a vision that will see it reach a total of 200 hotels and resorts in the world. by 2026, compared to 88 properties currently. and with around half of that growth coming from destinations outside of its native Thailand.
Centara has just confirmed that it achieved total revenue of nearly THB 1.09 billion (USD 33 million) in the fourth quarter of 2021, a 54% year-over-year increase, despite the continued impact of the pandemic. Growth is expected to accelerate in 2022 as the global travel and hospitality recovery accelerates, which will be supported by further easing of travel restrictions in Thailand, and is supported by the resilience and strong performance of major Centara’s international destinations such as the Middle East and the Maldives.
Centara will open eight new hotels and resorts in 2022, including Centara Hotel Korat
It’s not just Centara’s existing portfolio that will benefit from the continued rebound in tourism in 2022, as the group has announced plans to open eight new hotels and resorts this year, comprising 1,066 keys. These properties will cover Thailand, with openings in Bangkok, Korat and Ubon, and international destinations such as Laos, Oman and Qatar.
The group also revealed that a central part of its growth strategy will involve working with a strong development partner, particularly to launch new projects in Thailand, under existing and new brands, and starting this year. The luxurious Centara Reserve concept, which launched in December 2021 with the debut of Centara Reserve Samui, will be enriched with an additional property in Krabi, and the group is also considering projects in emerging Thai markets such as Koh Lanta and Cha – A m. Centara is also exploring a new opportunity in the medical wellness segment with an established operator in Europe, and Koh Tao and Samui are the potential locations being discussed.
Internationally, Centara has been given the go-ahead to develop two new high-end resorts in the Maldives, following successful Environmental Impact Assessments (EIAs) for three idyllic Indian Ocean islands . These resorts are expected to open in 2024 and 2025, doubling Centara’s presence in the Maldives to four properties. In Japan, an iconic high-rise hotel is currently under construction in Osaka, a joint venture between Centara, Taisei Corporation and Kanden Realty & Development, which will begin welcoming guests in mid-2023, and in Vietnam, COSI Phu Yen Hotel is slated to open in 2023, marking the first location for this cutting-edge, affordable lifestyle concept outside of Thailand.
Centara’s international growth will be centered on Southeast Asia, the Indian Ocean, Japan, China and the Middle East primarily, including Saudi Arabia, following the country’s recent normalization of diplomatic relations. with Thailand. The group is also considering options in Europe.
Centara will evolve its business strategy to focus on emerging trends and market dynamics in the coming years. In Thailand, the group is seeing growing demand for more experiential travel as well as “work,” as customers escape the office and work remotely for a few days or more, especially in beach destinations. He also foresees a strong rebound in international long-haul and leisure activities in Thailand due to the country’s reopening strategy and vaccination program, but was quick to reiterate that he believes the remaining restrictions should be phased out imminently for the required potential to be achieved.
Operationally, Centara will continue to invest in the latest technologies following the recent overhaul of its technology architecture. The group recently revamped its entire website, reservations, property management and reservations platforms and is currently completing the rollout of its industry-leading customer relationship management solution, which will be used to drive more retail, customer management, a seamless customer experience across all touchpoints, and a superior and highly personalized customer experience. The group is also focusing on developing talent through effective staff training programs and placing greater emphasis on sustainable solutions, with a target to reduce energy and water consumption by 20% 10 years from now and certification of 100% of its portfolio with respected environmental accreditation bodies. by 2025.
“As the world emerges from the global pandemic and travel restrictions begin to ease, we are very optimistic that the hospitality industry will recover quickly. Despite the challenges of the past two years, Centara can look back on its performance with pride. Now that we enter 2022, we are excited to unveil our expansion strategy for the months and years ahead. With the opening of several new hotels and resorts in many dynamic markets, both in Thailand and overseas, including innovative brands, this is an exciting time for our business as we strive to become one of the top 100 hotel operators globally,” said Centara Hotels & Resorts CEO Thirayuth Chirathivat.
To learn more about Centara Hotels & Resorts, please visit www.centarahotelsresorts.com.
(Your stories: Centara Hotels and Resorts)