Dubai downturn drives 10% fall in CENTEL’s Q2 room revenue
Thailand and the Maldives posted hotel gains for CENTEL in Q2, but declines in Dubai and Japan pushed overall room revenue lower
- Central Plaza Hotel's (CENTEL) revenue per available room (RevPAR) fell 10% year-on-year in the second quarter of 2026 across its company-owned hotels.
- This decline was driven by a sharp downturn at its Dubai property, which outweighed positive growth in its hotels in Thailand and the Maldives.
- The Dubai hotel experienced a 61% plunge in RevPAR, with occupancy dropping from 83% to 44% compared to the same period last year.
- Excluding the underperforming Dubai property, the hotel group's overall RevPAR would have actually increased by 1%.
Central Plaza Hotel Public Company Limited, or CENTEL, reported a 10% year-on-year fall in revenue per available room across its company-owned hotels in the second quarter of 2026, as a sharp downturn in Dubai outweighed growth in Thailand and the Maldives.
Average revenue per available room, or RevPAR, stood at 3,328 baht during the quarter. Excluding the Dubai property, the group’s overall RevPAR would have increased by 1%.
Gun Srisompong, CENTEL’s chief financial officer, disclosed the company’s key hotel statistics on July 22.
Thailand’s average occupancy rate rose to 70% from 66% in the same period last year, led by stronger results from the group’s Bangkok hotels. The Maldives also recorded a steep increase as existing properties grew and two newer resorts continued to ramp up operations.
Bangkok leads Thailand’s improvement
CENTEL’s Bangkok hotels recorded RevPAR of 3,110 baht, up 6% year on year.
The increase was supported by occupancy rising to 76% from 72%, while the average room rate edged higher to 4,105 baht.
Hotels outside Bangkok generated RevPAR of 2,795 baht, a 2% increase, despite their average room rate falling 4% to 4,163 baht.
The results were affected partly by the temporary partial closure of Centara Grand Beach Resort & Villas Hua Hin for renovations and the complete closure of Centara Grand Beach Resort & Villas Krabi.
Room rates were also reduced at the group’s Phuket properties following a change in the customer mix linked to the Middle East situation.
Maldives RevPAR surges 69%
The Maldives was CENTEL’s fastest-growing hotel market in the second quarter, with RevPAR climbing 69% to 6,245 baht.
Occupancy jumped to 53% from 31% a year earlier, supported by growth at existing hotels and improving results during the ramp-up of Centara Mirage Lagoon Maldives and Centara Grand Lagoon Maldives.
The surge helped offset part of the decline in Dubai, where regional tensions had affected hotel performance since March 2026.
Dubai RevPAR fell 61% to 2,385 baht, while occupancy dropped to 44% from 83% in the same quarter last year.
Centara Mirage Beach Resort Dubai continued operating normally and suffered no physical damage, the company said.
New Osaka hotel weighs on Japan comparison
RevPAR in Japan declined 46% to 4,185 baht.
CENTEL attributed part of the fall to the inclusion of Centara Life Osaka, which opened in April 2026 and was still in the early stages of operations.
The group’s existing hotel business in Japan was also affected by slower demand from Chinese travellers and an unusually high comparison base last year, when Osaka hosted the World Expo.
First-half RevPAR slips 1%
For the first six months of 2026, CENTEL recorded average RevPAR of 4,315 baht, down 1% from the same period last year.
Average occupancy across the group’s company-owned hotels was 71%, while the average room rate stood at 6,048 baht.
Thailand’s first-half RevPAR rose 1%, while the Maldives recorded growth of 61%. Those gains were largely offset by weaker performance in Dubai and Japan, where external pressures and the ramp-up of new hotel operations continued to weigh on results.
