Chayanon Horpattaporn, Chief Financial Officer of Asset World Corp Public Company Limited (SET: AWC), provided an overview of the company’s business performance during the Opportunity Day event organized by the Stock Exchange of Thailand (SET) on March 17, 2025.
Chayanon announced that the company’s total revenue for 2024 amounted to THB 21,011 million, a 10.50% increase from the previous year’s THB 19,019 million. This growth resulted in a net profit of THB 5,850 million, a 14.60% rise from the THB 5,105 million reported in the previous year.
AWC anticipates setting new profit records this year, driven by its strategy to expand its business portfolio in the hospitality sector. The company is confident that the revenue per available room (RevPAR) will increase by over 10% from 2024, with the previous year’s average being THB 4,200 for their existing portfolio.
The occupancy rate is projected to return to its pre-COVID-19 level of over 75%, improving from 72% in 2024 and significantly higher than the 65% recorded in 2023. AWC aims to expand its hotel portfolio to 6,971 rooms from 6,029 rooms a year prior.
The company continues to pursue aggressive growth as a leading real estate developer focused on creating sustainable global destinations through landmark projects. This strategy includes enhancing collaborations with global partners and elevating development standards to international levels under the concept of “Building a Better Future.”
AWC has set a five-year target (2025-2029) to increase its operating asset value to THB 300,000 million by 2029, up from THB 156,753 million in 2024, and to expand its total hotel room count to 12,000 under the same forward-looking vision.
The company forecasts a substantial increase in the proportion of business-as-usual revenue (BAU), rising from approximately 25% in 2020 to over 70% of the total portfolio by 2029, contributing to EBITDA growth.
AWC’s long-term business development and value-creation strategy emphasizes expanding asset portfolios through new projects and acquisitions.
Recently, the company acquired Le Concorde Hotel, planning to rebrand it as JW Marriott, and continues to expand its portfolio of luxury hotels and resorts in key destinations such as Chiang Mai, Phuket, Pattaya, and Samui.
The growth strategy in the hotel business intends to drive average daily rate (ADR) upward to maintain leadership in RevPAR and revenue generation index (RGI). The company targets double-digit growth in RevPAR and expects the occupancy rate to exceed 75% in 2025.
Moreover, AWC plans to partner with global hotel networks such as Marriott, Hilton, Banyan Tree, and Okura, leveraging access to over 650 million loyalty program members to reach a broad base of high-quality customers. The continued expansion into prime locations will support this growth trajectory.
Additionally, AWC plans to enhance the performance of its listing business by reinforcing the development and renovation of rental spaces, aiming to increase rental rates and occupancy.
AWC is committed to sustainable growth across all dimensions, including environmental (Better Planet), social (Better People), and economic (Better Prosperity) aspects. This commitment aims to balance growth with environmental responsibility, uplift the value of people and communities, and drive sustainable economic progress, with recognized achievements in sustainability on a global scale.
