2023-06-10 06:05:51
Dao Securities (Thailand) Public Company Limited stated in an analysis on (June 9, 2023) that from listening to updates from The Erawan Group Public Company Limited or ACRE Resulting in a more positive view of Erawan regarding RevPAR or (revenue per room) during the April-May 2023 period, which still increased well compared to the same period last year. But it was less than the previous quarter that the research department expected, even though it was in the low season because there were still pent-updemand exists
Overall RevPAR (excluding Hop Inn) was at 2,400 baht, an increase of 106% compared to the same period last year, but down only 7% from the previous quarter. The decrease from the previous quarter came from more provinces than in Bangkok, with an occupancy rate of 80%, an increase from 2Q22 at 55% due to the recovery of tourists. but decreased compared to quarter 1/66 at 84% from the low season
While the average revenue per room (ADR) was 3,000 baht, an increase of 43% compared to the same period last year, but only a decrease of 3% from the previous quarter. Economy hotels have started to lower prices because of the rainy season, while HopInn in Thailand has continued to grow RevPAR with a 17% increase compared to the same period last year. The Philippines’ Hop Inn saw a 34% increase in RevPAR compared to the same period last year, but down 7% quarter-over-quarter. from tourists Mainly Local
In addition, the research department expects that the overall RevPAR in June 2023 will increase compared to the same period last year. But there will be a decrease from the previous quarter. from Chinese tourists who arrived later than expected because there is a delay in obtaining permission to travel to Thailand which the Thai authorities are in the process of resolving
At the same time, the net profit forecast for the year 2023 is still at 464 million baht, which is the same level as the year 2019, with a good recovery from the year 2022 with a net loss of 224 billion baht, while the performance in the second quarter is expected. 66 will still be seen as profitable. It will recover well when compared to the same period last year. from the increasing number of tourists But it will decrease from the previous quarter. Because during the low season in Thailand But there is still a project We travel together to support some in the month Mar.- Apr. 2023
Estimated profit for the year has an upside because RevPAR in April-May 2023, however, the research department has to wait and see the numbers in June 2023 once more. Initially, the 2023 target price of 6.00 baht is recommended. “buy”
performance sectionQuarter 1 ended 31 Mar. 23 The company’s total income rose to 1,789 million baht from the same period of last year, 648 million baht, resulting in a net profit of 238.56 million baht, or 0.0526 baht per share, from the same period last year, a net loss of 313.10 million baht, or 0.0691. baht per share
for strong growth performance The main contributing factor is the remarkable growth of Thailand’s tourism industry, in which in the first quarter of 2023 there were more tourists. 6.5 million foreign visitors to Thailand, an increase of 1,202% from 1Q22, resulting in the overall performance in 1Q23 for both the hotel groups in Thailand and the Philippines continued to grow.
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