In spite of the serious political unrest and recent rallies during the second quarter, Central Plaza Hotel has still managed to boost its food and lodging business by 2.4 per cent on year.
Consolidated revenues rose to Bt2.04 billion from Bt1.99 billion in the second quarter last year, amid sustained growth in the food service and hotel industries, as well as the overall positive economic prospects for the country.
Ronnachit Mahattanapreut, senior vice president of finance and administration, said yesterday the company's food business expanded by 8 per cent to Bt1.32 billion (from Bt1.22 billion) as a result of proactive marketing and promotional campaigns.
The company was operating 487 quick service restaurants, down from 493 at the end of last year's second quarter, due to the termination of the Pizza Hut and Baskin Robbins ice cream businesses, plus the closure of their outlets.
Growth rates in same stores sales and totals systems sales were 8.7 per cent and 7.8 per cent.
However, the hotel business was hurt by the continuing political unrest and the ensuing deep discounting campaigns. The company's average occupancy rate dropped to 48 per cent from 54.7 per cent, but was still higher than the industry-wide 39.2 per cent.
The company kept its average room rate, at Bt2,814, almost the same as last year's Bt2,828. That represented a marginal decrease of 0.5 per cent.
Earnings before tax and interest fell by Bt66.1 million or 23.1 per cent to Bt220.2 million from Bt286.3 million. The company suffered a net loss of Bt204.6 million after accounting for total depreciation and amortisation expenses of Bt299.3 million.
For the first half, total consolidated revenues increased 10 per cent to B4.56 billion from Bt4.14 billion for the first half of 2009.