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Corporate May 16, 2018 01:00

By The Nation

CENTEL HITS RECORD NET PROFIT IN FIRST QUARTER



Central Plaza Hotel (CENTEL) achieved a record net profit of Bt883 million for the first quarter, an increase of 12.8 per cent compared to the same period last year, thanks to higher revenues from its hotels and food businesses. 

The improved performance was partly due to the recovery of the MICE sector and the continued growth in the number of international tourists arrivals during the first three months, boosting the performance of hotel business. The result was further enhanced by revenues from the Centara Government Complex Hotel and Convention Centre Cheang Watthana as well as the COSI Samui Chawaeng Beach, which the company invested in and and started operation since the end of last year. 

CENTEL’s achieved total EBITDA, in Q1/2018, of Bt1.58 billion, an increase of 6.5 per cent year on year, with EBITDA for the hotels business totaling Bt1.24 billion, or an increase of 6.1 per cent year on year, while EBITDA for the food business amounted to Bt340.6 million, an increase of 8 per cent year on year.