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Results highlights The sharply reduced 3Q13 loss was led by hotel revenue growth, fatter GM and a lower SG&A/sales ratio. In YoY terms, hotel income rose 17% to Bt1bn in 3Q13up by 6percent for the Bangkok luxury segment, by 31percent for the luxury
Following the 2Q13 sell-off, ERW trades at 38% below its replacement value of Bt6.27/share...New budget hotels under proprietary brand "HOP INN" After two years of feasibility studies and team-building, ERW will launch "budget" hotels (lower priced
00 am The Erawan Group, a listed hotel developer, is spending Bt2 billion on expanding its network into the budget-hotel segment with 30 openings through 2015 under its new Hop Inn brand. The first opening will be during the second or third quarter
The Chinese migrant built his fortune from nothing and won recognition as a leading expat businessman in Thailand. His family started off in the liquor and construction businesses before diversifying into sugar milling and finance about 50 years ago.
Core operational losses in 2Q-3Q13 low seasondue to renovations at the Grand Hyatt Erawan Bangkokare not an issue. There is scope for earnings upside from management's anticipated announcement of a new business model (expected in May). Pegged to the
Q13 international tourist arrivals soared 19% YoY and 11% QoQ to a record 6.8mn. Major contributors to growth were China (+94% YoY), Russia (+26% YoY), Japan (+22% YoY) and India (+18% YoY). As a pure hotel play with exposure to all segments, ERW is
As we expected, the firm posted a core profit of Bt82m for FY12 (against a core loss of Bt176m in FY11). Management announced a DPS of Bt0.0189 (slightly above our estimate and the consensus)...Results highlights The 4Q12 bottom-line turnaround was
Chicago-based Hyatt Hotels Corporation announced on Tuesday that its affiliate has entered into an agreement with Grande Asset Hotels and Property Plc, a Bangkok-based real estate development company, for the management of the new hotel. "Bangkok is
The company declined to reveal how many new properties it would open, but said the business-hotel concept was on the up-trend in Thailand...Sanne Emborg, general manager of the Courtyard by Marriott Bangkok, said the high occupancy rate showed the
President and chief executive officer Kasama Punyagupta said the group planned to open 12 or 13 hotels by 2015. Most of the new developments would be under the Ibis and Courtyard brands, and these would be in major tourist destinations in the country.