Centara CEO: Floods in Hat Yai will impact revenue by less than 1%, aims to open 8 new hotels next year

• Centara confirms that the flood in Hat Yai will have minimal impact on revenue, with projections showing a loss of less than 1% of the entire hotel portfolio.
• The company plans to open 8 new hotels next year, expecting 10–15% growth in revenue.

Thirayuth Chirathivat, CEO of Centara Hotels & Resorts, stated that the recent flood in Hat Yai has affected operations, but Centara Hat Yai Hotel has no significant damage to the building. The hotel had previously moved all essential equipment to higher floors after the 2000 flooding, making it well-prepared for this situation.

Minimal business impact: projected to lose less than 1% of total portfolio revenue

The hotel business disruption in Hat Yai is estimated to last about 1 month, and the company expects this will result in a less than 1% decrease in overall revenue due to booking cancellations. Hat Yai typically sees Malaysian tourists as the largest market, with steady growth every year.

As of now, about 130–140 tourists remain stranded in the area, primarily from Malaysia, who were among the 400 tourists in Hat Yai before the flood. As the water level begins to recede, some tourists have been able to leave, while the remaining tourists are being cared for by the hotel.

Centara’s 2023 performance and future prospects

Thirayuth continued by sharing Centara’s 2023 business outlook, predicting 8% revenue growth compared to last year, based on solid Q1–Q3 performance and a strong Q4 high season. While foreign tourist numbers have slowed, especially from China (which traditionally makes up less than 10% of Centara's market), European and Indian markets have driven growth.

Centara is optimistic about the upcoming year, targeting 10–15% growth in revenue and 8 new hotel openings. This includes both owned and managed properties, with major projects like the Centara Life Osaka Hotel, a 3-star hotel in Japan with a project value of 12.7 billion yen, a 50:50 joint venture with Taisei Corporation. Centara is also set to renovate and reopen Centara Reserve Krabi in late 2026.

Expanding globally: 8 new hotels and strategic partnerships

Next year, Centara will open 8 new hotels, including 6 management contracts in Vietnam, Nepal, Qatar, and Saudi Arabia. Additionally, Centara has signed an MOU with NUO International to expand the brand across China, Thailand, and Southeast Asia.