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Bangkok, Thailand - Centara Hotels & Resorts, the leading operator of hotels in Thailand, is poised for a landmark year in 2024 with an ambitious expansion plan. The strategy includes the launch of new properties, brand revitalization, and the introduction of innovative guest experiences, targeting to position Centara as a premier travel destination and a leader among global hotel operators by 2027.
In 2023, celebrating its 40th anniversary, Centara laid a strong foundation for growth, marked by significant achievements including the launch of Centara Grand Hotel Osaka, its first venture in Japan, and receiving prestigious awards such as Kincentric’s “Best Employers Thailand Award” and the “Strongest Brand in Thailand” title for Centara Grand.
The company reported a total revenue of THB 9,932 million in 2023, a 52% increase from the previous year, and an EBITDA surge of 83% to THB 3,284 million. This financial success was propelled by a 19% rise in RevPAR to THB 4,141, driven by higher occupancy and room rates. For 2024, Centara forecasts a RevPAR of up to THB 4,300 as occupancy rates are expected to reach 70-73%.
Building on this momentum, Centara has six new properties slated to open in 2024, enhancing its presence in Thailand, Laos, and the Maldives. Highlights include Centara Mirage Lagoon Maldives, opening in November as part of The Atollia by Centara, and extensive renovations of flagship hotels Centara Karon Resort Phuket and Centara Grand Mirage Beach Resort Pattaya.
Centara Mirage Lagoon Maldives will debut as the world’s fourth family-focused Mirage resort, featuring an underwater-themed water park. It will soon be joined by Centara Grand Lagoon Maldives in Q1 2025, offering a sophisticated resort experience. Additionally, Centara is revitalising its Centara Boutique Collection and expanding its diverse brand portfolio, with a keen eye on China for potential new projects.
Underpinning every aspect of Centara’s strategy are its core values of Thai-inspired, family-centric hospitality. The CentaraThe1 membership programme will be enhanced to offer greater benefits, rewards, and redemption opportunities, alongside significant digital investments to enrich guest experiences.
Michael Henssler, Chief Operating Officer of Centara, shared, “In bringing Thai hospitality to foreign shores, we export the essence of Thailand through our food and spa services, ensuring an authentic guest journey. Our approach harnesses the soft power of Thai culture, sparking interest and appreciation for Thai hospitality’s genuine warmth and authenticity.”
Centara’s vision for 2024 and beyond underscores its commitment to excellence, innovation, and the spread of Thailand hotels and hospitality on a global scale.
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