The Erawan Group Public Company Limited (SET: ERW) has announced its 2024 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Year | 2024 | 2023 |
| Net Profit (Loss) Million Baht |
1,280.74 | 742.66 |
| Earning Per Share (Baht) |
0.2713 | 0.1639 |
| % Change | 72.45 | |
ERW reported a net profit of THB 1.28 billion, an increase of 72.45 percent from last year.
As for the total revenue, on a normalized basis, the Company recorded total revenue of THB 7,917 million, an increase of 12 percent YoY.
In 2024, total operating revenue on luxury, midscale and economy hotels was recorded at THB 6.039 billion, an increase of 6 percent YoY. The key driver of this segment was due to international arrivals. International arrivals totaled 35.5 million, surpassing the Tourism Authority of Thailand’s target of 35 million. This represents a 27 percent increase from 2023 and an 87 percent recovery from 2019 levels, with China, Malaysia, and India remaining the leading markets.
With continuing the company’s pricing strategy, in 2024, hotels in this group achieved a Revenue Per Available Room (RevPAR) growth of 9 percent YoY while maintaining the same Occupancy Rate (OCC) as the previous year at 82%.
- Economy hotels delivered outstanding performance, with RevPAR growth of 16 percent YoY, driven by an increase of 11 percent YoY in Annual Recurring Revenue (ARR) and a 4 percent YoY rise in OCC.
- The midscale hotels did increase their RevPAR by 7 percent YoY, due to an increase of 12 percent YoY in Annual Recurring Revenue (ARR) and a 3 percent YoY drop in OCC.
- As for the luxury hotels, these hotels did increase their RevPAR by 7 percent YoY, due to an increase of 9 percent YoY in Annual Recurring Revenue (ARR) and a 1 percent YoY drop in OCC.
In the Budget Hotels (HOP INN) segment, the total operating revenue of all Budget Hotels was THB 1.685 billion, an increase of 38 percent YoY.
- HOP INN Thailand had total revenue of THB 983 million, representing a 15 percent increase YoY. The key driver was the domestic traveler, which totaled 270 million, an 8 percent increase from 2023.
- HOP INN Philippines had total revenue of THB 424 million, an increase of 17 percent YoY. The key driver was the domestic traveler.
- HOP INN Japan had total revenue of THB 278 million. The key driver was the international tourists. Arrivals reached a record 36.9 million, a 47 percent rise from 2023 and a 117 percent increase from 2019.
This led to the Company’s 2024 performance with an operating income from the overall hotel business of THB 7.724 billion, an increase of 12 percent YoY. Room revenue was recorded at THB 6.201 billion, an increase of 15 percent YoY, and food and beverage revenue was reported at THB 1.401 billion, unchanged YoY.
Additionally, the Board of Directors approved a dividend payment of THB0.09 per share to be paid on 21 May 2025. The ex-dividend date is 10 March 2025.
