Central Plaza Hotel Public Company Limited (SET: CENTEL) is setting robust growth targets for 2026, aiming for total revenue of THB 35 billion, a substantial 14-15% increase from the previous year, according to CEO Thirayuth Chirathivat.
This growth will be driven by both hotel and food business segments—hotels are projected to contribute between THB 15.7-15.9 billion, while the food business is forecast to bring in approximately THB 19.1-19.3 billion, each reflecting around 14-15% growth.
For its core hotel operations, CENTEL expects an occupancy rate of 75-78%, climbing from 72% in the prior year. The company also forecasts its revenue per available room (RevPAR) to reach THB 4,600-4,800, up 8-9% from THB 4,281 per room per night in 2025. Within the food business, same-store sales growth (excluding joint ventures and The Terrace brands) is targeted at 3-5%, with total sales growth anticipated at 12-14%.
On the investment side, CENTEL has outlined a 3-year capital expenditure budget (2026–2028) of THB 23 billion, with THB 7.5 billion earmarked for 2026 alone. Of that, THB 6.6 billion is allocated to hotels—including THB 4.5-4.6 billion for renovations in properties such as Centara Grand Beach Resort & Villas Hua Hin and Centara Grand Beach Resort & Villas Krabi—and THB 1.9-2.0 billion for M&A.
The food business will see around THB 900 million invested to support plans for 75-85 new restaurant branches, a 5-6% expansion over the previous year.
In 2026, CENTEL also plans to open four new hotels: Centara Life Osaka (300 rooms, opening April 2026) and hotels in Nepal, Vietnam, and Thailand, totaling 1,429 rooms.
Strategic expansion continues through joint ventures, notably with PTT Oil and Retail Business Public Company Limited (SET: OR). CENTEL holds a 51% stake in this collaboration targeting the budget hotel market.
The first phase will introduce a new hotel brand in six Thai cities, with each location featuring 69-79 rooms priced around THB 800-900 per night, and gradual openings by the end of 2027. More details will be announced with OR in March 2026.
Financially, CENTEL reported a 2025 net profit of THB 1,992.9 million, up 14% from the prior year, on total revenue of THB 25.3 billion, marking a 4% increase. The hotel and food businesses delivered 48% and 52% of total revenue, respectively, with improved profitability attributed to disciplined cost management and the closure of non-performing food outlets.
The Board of Directors also approved a dividend payment of 0.67 baht per share for the 2025 period, with the ex-dividend date set for May 6, 2026, and the payout date scheduled for May 21, 2026.
For 2026, CENTEL will benefit from the first full-year revenue contributions of new hotels launched in 2025, including Centara Karon Villas (Phuket, 50 rooms), which opened in November, and Centara Grand Lagoon Maldives (142 rooms), which started operation in April.
