{"id":756,"date":"2009-08-31T10:28:47","date_gmt":"2009-08-31T07:28:47","guid":{"rendered":"http:\/\/www.turizmtatilseyahat.com\/en\/?p=756"},"modified":"2022-09-28T13:44:37","modified_gmt":"2022-09-28T12:44:37","slug":"thai-hotelier-central-plaza-sees-lower-2009-net-profit","status":"publish","type":"post","link":"https:\/\/www.turizmtatilseyahat.com\/en\/thai-hotelier-central-plaza-sees-lower-2009-net-profit\/","title":{"rendered":"Thai hotelier Central Plaza sees lower 2009 net profit"},"content":{"rendered":"

\"Thai<\/a>Thailand’s fourth-largest hotelier, Central Plaza Hotel, on Monday pared back its outlook for this year, projecting a drop in net profit and revising down its revenue target following a rise in costs.<\/strong><\/p>\n

The company, which runs 13 luxury hotels including those in the resort islands of Phuket and Samui, cited several reasons for the grimmer outlook — from Thailand’s four-year political crisis to an increase in costs from opening a new hotel.<\/p>\n

“Our net profit this year will definitely be lower than 2008,” Ronnachit Mahattanapreut, senior vice president for finance, told reporters. “We have higher expenses from opening a new hotel,” he added.<\/p>\n

Central Plaza earned a net profit of 324 million baht ($9.5 million) in 2008.<\/p>\n

Ronnachit also projected revenue would grow between two and three percent this year, down from an earlier projection for a 10 percent rise.<\/p>\n

According to earnings tracker Thomson Reuters, five analysts expected on average the company to report a net profit of 288.5 million baht this year, down about 11 percent from a year earlier.<\/p>\n

Central Plaza, which competes with Minor International and Erawan Group, plans to spend 700 million baht in 2010 on its hotel business, down from 2.7-2.8 billion it invested this year, Ronnachit said.<\/p>\n

Ronnachit said the government’s stimulus measures should help spur the industry in the second half of this year, predicting a small contraction in Thailand’s economy in 2009 and 2-3 percent growth in 2010.<\/p>\n

“The high season is coming in the fourth quarter but this is really up to political factors, too,” Ronnachit added.<\/p>\n

Like other hotel operators, Central Plaza has suffered from political blows in Thailand, including the week-long closure of Bangkok airports by protesters in late 2008, which helped push its share price down 45 percent in 2008.<\/p>\n

Thailand’s embattled tourist sector has improved since July due to a pick-up in foreign arrivals, but renewed political unrest could drag the sector down again, operators said.<\/p>\n\n","protected":false},"excerpt":{"rendered":"

Thailand’s fourth-largest hotelier, Central Plaza Hotel CENT.BK, on Monday pared back its outlook for this year, projecting a drop in net profit and revising down its revenue target following a rise in costs.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_counter":[],"jnews_post_split":[],"footnotes":""},"categories":[7997,137],"tags":[7893],"class_list":["post-756","post","type-post","status-publish","format-standard","hentry","category-far-east","category-sectoral","tag-thailand"],"_links":{"self":[{"href":"https:\/\/www.turizmtatilseyahat.com\/en\/wp-json\/wp\/v2\/posts\/756","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.turizmtatilseyahat.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.turizmtatilseyahat.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.turizmtatilseyahat.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.turizmtatilseyahat.com\/en\/wp-json\/wp\/v2\/comments?post=756"}],"version-history":[{"count":1,"href":"https:\/\/www.turizmtatilseyahat.com\/en\/wp-json\/wp\/v2\/posts\/756\/revisions"}],"predecessor-version":[{"id":9239,"href":"https:\/\/www.turizmtatilseyahat.com\/en\/wp-json\/wp\/v2\/posts\/756\/revisions\/9239"}],"wp:attachment":[{"href":"https:\/\/www.turizmtatilseyahat.com\/en\/wp-json\/wp\/v2\/media?parent=756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.turizmtatilseyahat.com\/en\/wp-json\/wp\/v2\/categories?post=756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.turizmtatilseyahat.com\/en\/wp-json\/wp\/v2\/tags?post=756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}