Veranda Resort Public Company Limited

Wallapa Traisorat, Chief Executive Officer and President of Asset World Corp Public Company Limited, or AWC, disclosed that the flood situation has not yet directly affected the company's hotel bookings, with no cancellations, because Thailand is hosting major events in the second half of 2026 and most AWC hotels are not located in areas hit hardest by the flooding. Meanwhile, the company is revising its five-year investment plan under a total investment budget of 100 billion baht, shifting the original 2026-2030 period to a new plan starting in 2027, in order to develop world-class landmark projects in Bangkok, Pattaya and key tourist destinations, with global hotel chain partners such as InterContinental, Ritz-Carlton Reserve, JW Marriott, Marriott Marquis, Autograph Collection and Moxy. It also plans to develop 11 landmark projects along the Chao Phraya River, including a cable car project across the river. Varut Tantipipop, a director and executive of Veranda Resort Public Company Limited, or VRANDA, disclosed that overall forward bookings for the fourth quarter of 2026 grew about 30% from the same period last year, and revenue per available room is trending higher, with average room rates up about 20% compared with the fourth quarter of last year. Dittanop Watthanavekin, an equity analyst at Krungsri Securities Public Company Limited, assessed that the hotel business in the second half of 2026 will continue to grow well, with AWC's RevPAR up 26% year on year in July and up 25% in August. He recommends stocks with mainly domestic portfolios, namely AWC and ERW, and picks AWC as the top pick, supported by its plan to establish the AWC REIT.

Veranda Resort Public Company Limited expects Thailand's tourism industry to expand strongly in the second half of the year, driven by several positive factors including the World Bank meetings in Bangkok, the Tomorrowland music festival in Pattaya, Chinese tourists in Chiang Mai, and the completion of Rama II Road supporting Hua Hin. The company has hotels in these key tourist destinations and is a leading hotel operator in Thailand's major tourist cities. For first-half results, the company reported total revenue of 857 million baht, up 16 percent from the same period last year, and normalised earnings before interest, tax, depreciation and amortisation of 276 million baht, an increase of 31 percent. Normalised operating profit was 61 million baht, growing 662 percent, with a non-cash accounting item from recognising a loss on early loan repayment of 56 million baht, which will help reduce financial costs over the long term. In the property business, the Veranda Villas and Suites Phuket project will begin transferring ownership and recognising revenue from July 2026 onwards, with a target to recognise revenue of 300 to 400 million baht in the second half of this year.