On behalf of the Board of Directors, I am hornoured to present the Annual Report of Central Plaza Hotel Public Company Limited for the fiscal year ending 31 December 2016. The Company has enjoyed another successful year of business expansion and operating performance in both the hotel and restaurant sectors, despite continued economic instability globally and difficult market conditions locally.
In 2016, Thailand mourned the greatest loss of His Majesty King Bhumibhol Adulyadej – the late and revered monarch who had ruled the country for 70 years. Following the passing of the King, the overall climate of the Thai tourism industry has been rather subdued. However, Centara Hotels and Resorts manager to remain strong without significant impact on the Company’s overall business, while continuing to develop business of managing hotels in Thailand, such as Centra by Centara Phu Pano Resort Krabi, and Centara Azure Hotel Pattaya. The start of the year also saw the re-opening after refurbishment of Centara Q Resort Rayong.
The Company keeps extending Centara’s brand presence in the international markets by carefully looking for business opportunities and signing new management contracts in worldclass tourist destinations. One of the most significant milestones in 2016 was the recent partnership with UAE’s major developer Nakheel in signing a joint venture agreement to create an upscale, 550-room, beach resort with waterpark at Deira Islands in Dubai. This partnership was considered a ground-breaking move for Centara Hotels and Resorts as the new property will be Centara’s first hotel in Dubai and in fact in the UAE and represents our arrival in the Middle East’s key gateway city. As of the end of 2016, Centara Hotels and Resorts has a total of 65 properties, 37 in operation and 28 under development, across Thailand and 11 international destinations.
With regards to the restaurant business, Central Restaurants Group Co., Ltd (CRG) continue to strengthen its position as one of Thailand’s leaders in the restaurant / QSR sector. Although the competition in the restaurant business remains high, by the end of 2016, CRG had added 69 new restaurants and presently has a total of 830 restaurant outlets across eleven brands in its portfolio.
Whilst staying true to its quality and long-time reputation among consumers, CRG has made strategic developments to remain relevant to consumers’ changing lifestyles. As an innovative leader of chain restaurants, the Company continues evolving to provide convenience for customers through a wider range of services, such as Drive Thru outlets and lunch express delivery. CRG will continue to forge ahead in 2017 in order to keep expanding its business presence both domestically and internationally, and to gain even more as one of the leading players in the restaurant industry of the ASEAN region.
I would like to take this opportunity to express my sincere appreciation for all the support from our shareholders, business partners, suppliers, management and staff members of both the hotel and restaurant businesses, as well as our valued customers. Your hard work, dedication and commitment will lead the Company to its ambitions and goal – continue growing and prospering for many years to come.
Mr. Suthikiati Chirathivat
Chairman of the Board