Miss Wallapa Traisorat, CEO and President of Asset World Corp Public Company Limited (SET: AWC), revealed that the business outlook for 2025 is expected to continue reaching new highs from the previous year.
The company anticipates strong growth in Q1/2025, supported by the ongoing expansion of the tourism industry. Despite challenges from the Chinese market, AWC’s strategy of adjusting its marketing approach, collaborating with international partners, and investing in new quality and service enhancements—combined with continued government efforts to stimulate tourism—will help drive further growth and attract more tourists in the future.
Meanwhile, the occupancy rate (%) has been steadily increasing. In 2023, it stood at 65%, rising to 72% in 2024, and is expected to return to the pre-COVID level of 75% in 2025.
Additionally, the company aims to increase its revenue per available room (RevPAR) by 10% in 2025 compared to 2024, when it was 4,200 THB per night. This year, AWC also plans to expand its operational asset portfolio to THB 210 billion, up from THB 198.7 billion in 2024, while increasing the total number of hotel rooms in its portfolio to 6,971 rooms, compared to 6,029 rooms in 2024.
AWC has also set a five-year strategic plan (2025-2029) to double its operational asset portfolio to THB 300 billion and expand the total number of hotel rooms to 11,908 by 2029. This strategy aims to support comprehensive growth and generate a return on equity (ROE) of more than 15% by accelerating the potential of properties currently in the ramp-up phase to reach business-as-usual (BAU) operations. The company continues to pursue aggressive growth as a leading real estate firm focused on creating world-class sustainable destinations with landmark-quality projects, strengthening collaborations with global partners, and elevating real estate development standards to an international level under the concept of “Building a Better Future.”
AWC has benefited from Thailand’s government initiatives to boost tourism, particularly waiving visa requirements for nearly 100 nationalities to attract more visitors. Visa exemptions have been granted for tourists from multiple countries, including China, the largest source of visitors to Thailand. This policy is expected to significantly support AWC’s hotel and retail businesses by increasing international tourist arrivals.
For its 2025 growth strategy, AWC is enhancing its hotel and commercial business portfolio with nine key projects, investing over 22 billion THB. Recently, the company invested 8.7 billion THB in Le Concorde Hotel Co., Ltd., which includes a 45,792-square-meter office building and a 407-room hotel located in a prime economic district. This investment is expected to generate immediate cash flow for the company.
In addition to its long-term growth plans, AWC reported strong recent performance, with its Q4 2024 net income surging 37% year-over-year to 1.86 billion THB, driven by an increase in tourist arrivals that boosted hotel bookings and rental income across its properties. The company currently owns 22 hotels, nine shopping malls, and four office buildings, according to its website.
AWC is controlled by billionaire Charoen Sirivadhanabhakdi’s TCC Group, with Wallapa Traisorat, his daughter, serving as CEO. Charoen’s net worth is estimated at US$12.5 billion, according to the Bloomberg Billionaires Index.
