The sustained full recovery of the tourism sector - starting in Q4/2010 and continuing throughout the Q1/2011 period, with an overall an 15% increase in international tourists arrivals to Thailand - coupled with the continued dynamic growth of the Food Services sector - resulting from the overall positive Thai economy's GDP growth - have driven CENTEL to achieve all time record highs in both its Q1/2011 total consolidated revenues (of almost Baht 3,000 million !) and Q1/2011 consolidated Net Profit; whereby total consolidated revenues was Baht 2,999.1 million - or an 18.8% year on year (YoY) increase.
This all time record comprised of a 14.4% YoY increase in total Hotel Business revenues and a 23.6% YoY increase in total Food Business revenues, resulting in a total consolidated Net Profit of Baht 401.0 million (an increase of Baht 196.4 million - or equal to a 96.0% increase when compared to the same quarterly period last year). At the same time, Q1/2011 EBITDA was Baht 858.4 million - a 38.6% YoY increase.
CENTELs' Hotels Business in Q1/2011 sustained its recovery from the previous quarter, whereby the Average Occupancy Rate (AOC) was nearly the same as that for the Q1/2010 period - ie: AoC in Q1/2011 was 70.6% compared to 71.7% for Q1/2010; mainly resulting from the completion of a major refurbishment of the Sofitel Centara Grand Bangkok. Meanwhile, the Average Room Rates (ARR) for the Q1/2011 period also increased when compared to Q1/2010 - ie: ARR of Baht 4,469 - or equal to a 10% YoY increase, resulting from the opening of CENTEL's new high-end hotel property, the Centara Grand Beach Resort Phuket, together with the continued positive operating results for the Centara Grand Mirage Beach Resort Pattaya as well as the full recovery of the Centara Grand and Bangkok Convention Centre at Central World. Therefore, total Q1/2011 Hotels Business revenues was Baht 1,520.0 million - or a 14.4% YoY increase, when compared to Baht 1,328.3 million for Q1/2010.
As for CENTELs' Food Business, total Q1/2011 revenues was Baht 1,479.1 million - or a 23.6% YoY increase when compared to Baht 1,196.9 million, resulting from the continued expansion of the Foods Business outlets; whereby its ‘Same Stores Sales (SSS)' Growth was 17.8% YoY (compared to 11.4% YoY in Q1/2010), and its ‘Total Systems Sales (TSS)' Growth was 23.3% YoY (compared to 8.5% in Q1/2010).
Therefore, given the abovementioned all time record achievements for the Q1/2011 period together with the continuing positive trends growth trends for CENTEL's Hotels Business and Food Business, the Company expects to be able to achieve its targeted FY/2011 total consolidated revenues (of Baht 11,000 million) as well as its other operational performance objectives for the year.
For more information, please contact
Dr. Ronnachit Mahatanapruet, SVP, Finance & Administration.
THE CENTRAL PLAZA HOTEL plc.
Floor 25, 999/99 Rama 1 Rd., Patumwan, BANGKOK 10300.
Tel : (66) 02 769 1234 (ext 6131) Fax : (66) 02 100 6231
E-mai: ronnachitma@chr.co.th or ir@chr.co.th
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