Central Plaza Hotel CENT.BK, Thailand’s leading hotelier, said on Friday it expected 2010 revenue growth of 10-15 percent, helped by an upturn in the economy, compared with 2-3 percent this year.
In the first six months of this year, Central Plaza earned revenue of 4.1 billion baht and a net profit of 167 million baht.
“We should see a jump in revenue next year by 10-15 percent as we expect the economy to return to a normal state. We also plan to release new hotels,” Senior Vice President for Finance Ronnachit Mahattanapreut told Reuters.
On average two analysts expected revenue of 9.1 billion baht for 2010, up 13 percent from this year’s, which is forecast at 8.0 billion baht, according to earnings tracker Thomson Reuters I/B/E/S.
Central runs 13 luxury hotels and is Thailand’s third-largest hotelier by market capital after Oriental Hotel OHTL.BK and Laguna Resorts LRH.BK.
It expected income in 2010 from a new hotel in the resort of Pattaya, due to open later this year, and would also realise revenue from a new hotel on the tourist island of Phuket to be launched next year, Ronnachit said.
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“Because of government stimulus plans worldwide, tourism should recover, and we see good signs from occupancy rates in hotels,” he said.
Its food business, accounting for 61.4 percent of total revenue in the second quarter, could grow at least 10 percent next year as it planned to launch a new brand later this year, Ronnachit said.
It operates food chains including KFC, Mister Donut, and Auntie Anne’s in Thailand, with a total of about 500 outlets.
It used to operate Pizza Hut until April, when it ended the franchise. Some analysts have said the company would terminate its franchise with Baskin-Robbins by the end of this year.
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