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S Hotels and Resorts vs Las Vegas Sands: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

S Hotels and Resorts Public Company Limited (SHR.BK)

Q3 2026
▲3▼1

SHR's weak Q2 gives way to bond funding and a sector-wide recovery call

  • Middle East tensions hit Maldives and Mauritius bookings War worries kept Middle East tourists away, cutting revenue per room at SHR's Maldives and Mauritius hotels by 8-10% and pushing Q2 into a small loss. That is why profit forecasts and one broker's target price were cut.

    Explains the main force that hurt SHR's earnings and share price this period.

  • Q2 revenue holds up as Fiji, Phuket and Samui shine SHR still booked 2.27 billion baht of Q2 revenue and paid a small interim dividend. Fiji set a record quarter with nearly 90% of rooms filled, while Phuket and Koh Samui revenue per room rose 22% and 14%. Management expects a much stronger second half.

    Shows the actual results and the bright spots that offset the Middle East drag.

  • 1.7 billion baht bond sale fully subscribed at 4.50% SHR raised 1.7 billion baht from a 2-year-9-month bond paying 4.50% a year, with strong investor demand. The money repays maturing debt and funds hotel renovations, easing near-term repayment pressure and improving the rooms that drive future income.

    A completed funding event that strengthens the balance sheet and pays for growth.

  • Brokers turn positive on hotels, but SHR lags peers Tisco started SHR with a buy and 2.20 baht fair value, KGI kept buy at 1.90 baht, and DAOL stayed overweight on tourism as arrivals rebounded 8% in early October. Still, most top picks were rivals like ERW and CENTEL, and a travel-subsidy delay was a mild negative.

    Captures the improving sector mood and SHR's place in it, including the caveat.

August 2026
▲3▼1

SHR's weak Q2 gives way to bond funding and a sector-wide recovery call

  • Middle East tensions hit Maldives and Mauritius bookings War worries kept Middle East tourists away, cutting revenue per room at SHR's Maldives and Mauritius hotels by 8-10% and pushing Q2 into a small loss. That is why profit forecasts and one broker's target price were cut.

    Explains the main force that hurt SHR's earnings and share price this period.

  • Q2 revenue holds up as Fiji, Phuket and Samui shine SHR still booked 2.27 billion baht of Q2 revenue and paid a small interim dividend. Fiji set a record quarter with nearly 90% of rooms filled, while Phuket and Koh Samui revenue per room rose 22% and 14%. Management expects a much stronger second half.

    Shows the actual results and the bright spots that offset the Middle East drag.

  • 1.7 billion baht bond sale fully subscribed at 4.50% SHR raised 1.7 billion baht from a 2-year-9-month bond paying 4.50% a year, with strong investor demand. The money repays maturing debt and funds hotel renovations, easing near-term repayment pressure and improving the rooms that drive future income.

    A completed funding event that strengthens the balance sheet and pays for growth.

  • Brokers turn positive on hotels, but SHR lags peers Tisco started SHR with a buy and 2.20 baht fair value, KGI kept buy at 1.90 baht, and DAOL stayed overweight on tourism as arrivals rebounded 8% in early October. Still, most top picks were rivals like ERW and CENTEL, and a travel-subsidy delay was a mild negative.

    Captures the improving sector mood and SHR's place in it, including the caveat.

Latest
▲3▼1

SHR's weak Q2 gives way to bond funding and a sector-wide recovery call

  • Middle East tensions hit Maldives and Mauritius bookings War worries kept Middle East tourists away, cutting revenue per room at SHR's Maldives and Mauritius hotels by 8-10% and pushing Q2 into a small loss. That is why profit forecasts and one broker's target price were cut.

    Explains the main force that hurt SHR's earnings and share price this period.

  • Q2 revenue holds up as Fiji, Phuket and Samui shine SHR still booked 2.27 billion baht of Q2 revenue and paid a small interim dividend. Fiji set a record quarter with nearly 90% of rooms filled, while Phuket and Koh Samui revenue per room rose 22% and 14%. Management expects a much stronger second half.

    Shows the actual results and the bright spots that offset the Middle East drag.

  • 1.7 billion baht bond sale fully subscribed at 4.50% SHR raised 1.7 billion baht from a 2-year-9-month bond paying 4.50% a year, with strong investor demand. The money repays maturing debt and funds hotel renovations, easing near-term repayment pressure and improving the rooms that drive future income.

    A completed funding event that strengthens the balance sheet and pays for growth.

  • Brokers turn positive on hotels, but SHR lags peers Tisco started SHR with a buy and 2.20 baht fair value, KGI kept buy at 1.90 baht, and DAOL stayed overweight on tourism as arrivals rebounded 8% in early October. Still, most top picks were rivals like ERW and CENTEL, and a travel-subsidy delay was a mild negative.

    Captures the improving sector mood and SHR's place in it, including the caveat.

Las Vegas Sands Corp (LVS)

Q3 2026
▲2▼1

LVS Q2 Misses on Low Macao Hold; Buyback and Macau Rebound in Focus

  • Q2 earnings miss on low Macao hold LVS missed second-quarter estimates: revenue $3.15 billion and earnings of 59 cents a share, well below expectations. The company blamed unusually low rolling-play hold in Macao, which cut Macao EBITDA by $87 million. This weak result pushed the stock down about 6% and led analysts to cut estimates.

    The earnings miss is the main new event that moved LVS and explains the period's weakness.

  • Buyback raised to $6 billion, dividend kept LVS repurchased $787 million of its own stock last quarter, pays a 30-cent quarterly dividend, and the board raised its buyback authorization to $6 billion through 2029. Buying back shares supports the stock price by reducing supply and signaling confidence.

    This is a concrete new capital-return action that supports LVS shares despite the earnings miss.

  • Macau weak in July, but rebound expected Macau gaming revenue fell 8.4% in July from a year earlier, hurt by the World Cup and typhoons, with premium betting down 19%. Still, revenue rose 5.9% from June, and Jefferies expects growth in the third and fourth quarters on concerts and NBA China Games.

    Macau is LVS's biggest market, so this monthly data shows near-term pressure but a likely rebound.

  • Company sticks to $700M Macau EBITDA goal Management reiterated its target of $700 million quarterly EBITDA in Macau over time, even though the latest quarter was only $430 million. It called the quarter unrepresentative due to low hold and World Cup travel dips. Marina Bay Sands expansion remains on track for early 2031.

    This forward-looking guidance and expansion timeline give investors a reason to look past the weak quarter.

August 2026
▲2▼1

LVS Q2 Misses on Low Macao Hold; Buyback and Macau Rebound in Focus

  • Q2 earnings miss on low Macao hold LVS missed second-quarter estimates: revenue $3.15 billion and earnings of 59 cents a share, well below expectations. The company blamed unusually low rolling-play hold in Macao, which cut Macao EBITDA by $87 million. This weak result pushed the stock down about 6% and led analysts to cut estimates.

    The earnings miss is the main new event that moved LVS and explains the period's weakness.

  • Buyback raised to $6 billion, dividend kept LVS repurchased $787 million of its own stock last quarter, pays a 30-cent quarterly dividend, and the board raised its buyback authorization to $6 billion through 2029. Buying back shares supports the stock price by reducing supply and signaling confidence.

    This is a concrete new capital-return action that supports LVS shares despite the earnings miss.

  • Macau weak in July, but rebound expected Macau gaming revenue fell 8.4% in July from a year earlier, hurt by the World Cup and typhoons, with premium betting down 19%. Still, revenue rose 5.9% from June, and Jefferies expects growth in the third and fourth quarters on concerts and NBA China Games.

    Macau is LVS's biggest market, so this monthly data shows near-term pressure but a likely rebound.

  • Company sticks to $700M Macau EBITDA goal Management reiterated its target of $700 million quarterly EBITDA in Macau over time, even though the latest quarter was only $430 million. It called the quarter unrepresentative due to low hold and World Cup travel dips. Marina Bay Sands expansion remains on track for early 2031.

    This forward-looking guidance and expansion timeline give investors a reason to look past the weak quarter.

Latest
▲2▼1

LVS Q2 Misses on Low Macao Hold; Buyback and Macau Rebound in Focus

  • Q2 earnings miss on low Macao hold LVS missed second-quarter estimates: revenue $3.15 billion and earnings of 59 cents a share, well below expectations. The company blamed unusually low rolling-play hold in Macao, which cut Macao EBITDA by $87 million. This weak result pushed the stock down about 6% and led analysts to cut estimates.

    The earnings miss is the main new event that moved LVS and explains the period's weakness.

  • Buyback raised to $6 billion, dividend kept LVS repurchased $787 million of its own stock last quarter, pays a 30-cent quarterly dividend, and the board raised its buyback authorization to $6 billion through 2029. Buying back shares supports the stock price by reducing supply and signaling confidence.

    This is a concrete new capital-return action that supports LVS shares despite the earnings miss.

  • Macau weak in July, but rebound expected Macau gaming revenue fell 8.4% in July from a year earlier, hurt by the World Cup and typhoons, with premium betting down 19%. Still, revenue rose 5.9% from June, and Jefferies expects growth in the third and fourth quarters on concerts and NBA China Games.

    Macau is LVS's biggest market, so this monthly data shows near-term pressure but a likely rebound.

  • Company sticks to $700M Macau EBITDA goal Management reiterated its target of $700 million quarterly EBITDA in Macau over time, even though the latest quarter was only $430 million. It called the quarter unrepresentative due to low hold and World Cup travel dips. Marina Bay Sands expansion remains on track for early 2031.

    This forward-looking guidance and expansion timeline give investors a reason to look past the weak quarter.