Mr. Dirk De Cuyper, Chairman and CEO of S Hotels and Resorts PCL, revealed that “we foresee growing demand in the hospitality sector, including our properties in the five main leisure destinations, in particular in the United Kingdom. UK and the Maldives. Additionally, SHR’s strategy to drive business by using digital marketing to create custom platforms for wider direct booking implementation has given the company more resilience and adaptability. Another key factor that will drive 2022 revenue is property renovation and the creation of value-added elements in all identified potential properties to meet the diverse preferences and lifestyle needs of customers.”
The performance of CROSSROADS Phase 1 hotels in the Maldives for the first quarter of 2022 continued to recover, reaching an occupancy rate of 74%, well above the industry average. This was mainly due to its exceptional design and composition of the project, which is different from other typical resorts in the Maldives. The CROSSROADS project is the first and only fully integrated leisure lifestyle destination in the Maldives that serves a variety of customer types. Thanks to the rapid recovery of tourism, its unique selling points and the proactive marketing strategy aimed at attracting customers from several regions of the world, the CROSSROADS Phase 1 hotels should maintain a favorable occupancy rate throughout the year 2022 and be able to improve the ADR by the Company’s strategies on product upgrades and the concentration of high-spending customers, for example tourists from Europe, America and the Middle -East. Regardless, SHR is confident that once tourists from Asian countries such as China, Korea and Japan, which were one of the main source markets for the Maldives, fully reopen their borders, the performance of CROSSROADS Phase 1 hotels will increase even more. and become a dream destination for travelers around the world.
The recovery in UK travel demand and a strong performance is expected to continue from April to the end of the year, in line with the peak travel season. SHR expects performance to return to pre-pandemic levels of 2019 as hotels in the UK portfolio are regional hotels, located in key leisure and business destinations that are gaining popularity from pent-up domestic travel demand. Additionally, SHR intended to improve the efficiency and return of the UK hotel portfolio with the plan to invest more in prospective hotels to increase ADR and improve profitability from Q3 2022.
Moreover, with the optimistic vision of the resumption of MICE (Meetings, Incentive Travel, Conventions, Exhibitions) activities in the United Kingdom, Maldives and Thailand, in particular SAii Laguna Phuket, it is another advantage to boost performance of 2022.
“In the most challenging environment. SHR will pursue long-term growth to continuously improve the efficiency and returns of our hotel portfolio. A total budget of Bt. 2,800 million has been set aside for a three-year plan to improve its asset rotation strategy for existing properties and the construction of SO/Maldives, which is scheduled to launch in 2023. The other allocated budget is set for the merger and acquisition plan for new properties. also aim to focus on being a hotel operator, either through a local flagship brand or through partnering with leading international brands for business expansion to prepare for accelerated growth and improve competitiveness,” added Dirk De Cuyper.