Dusit Thani Public Company Limited

Dusit Thani Public Company Limited (DUSIT), in partnership with Plenitude Berhad, will open the Dusit Princess Ipoh hotel on October 1, 2026. This will be the third hotel in Malaysia under Dusit Thani's management, following Dusit Princess Malacca and Asai Kamuda Cove. The hotel is located in Ipoh, Perak, which in 2025 welcomed over 23.6 million domestic tourists, ranking as the third most visited state in Malaysia. The hotel features 268 rooms across five categories, along with event space totaling approximately 964 square meters, accommodating up to 400 guests. Mr. Chanin Donavanik, Group Chief Executive Officer of DUSIT, stated that this opening reinforces the strategy of expanding into high-potential destinations. Meanwhile, Madame Elsie Chua, Chairman of Plenitude Berhad, said that this collaboration will bring Thai hospitality to Ipoh and create memorable experiences for travelers.

Dusit Thani Public Company Limited (DUSIT) reaffirms its full-year 2026 performance target, expecting total revenue to grow 5-8%, excluding the delivery of the Dusit Central Park project. The company aims to maintain an EBITDA margin of 18-20% and keep capital expenditure (CAPEX) at 360 million baht. In the hotel business, especially Dusit Thani Bangkok, the average occupancy rate is 70-80%, and the average daily rate (ADR) exceeds 10,000 baht. For other hotels domestically and internationally, ADR is expected to grow 6-8%. In the real estate business, the Dusit Residences project has achieved 97% bookings, valued at 16 billion baht, with a target to transfer ownership within this year of 65%, or approximately 11 billion baht. Meanwhile, the food business is expected to see revenue growth of 8-12%, while the education business has revised its target down to 5-7% due to high competition.

Dusit Thani (DUSIT) has launched its first "Asai" branded hotel in Malaysia, named "Asai Kamuda Cove," which is currently the largest Asai hotel. It is scheduled to open on September 15, 2026. The hotel is located within the Kamuda Cove development, covering over 1,530 acres, about 20 minutes from Kuala Lumpur International Airport. It features 280 rooms with full amenities and emphasizes the "Live Local" concept, connecting guests with nature and the community. This opening marks Dusit Thani's second hotel in Malaysia, following Dusit Princess Malacca, and the fourth under the "Asai" brand, after Bangkok and Kyoto. Additionally, the location is about 20 minutes from Sepang International Circuit, which will host the Formula 1 race on October 2-4, 2026, boosting opportunities to attract tourists. Dusit Thani also plans to open Dusit Princess Ipoh in October 2026 to continue expanding its business in Malaysia.

Dusit Thani Public Company Limited reported results for the second quarter of 2026 and the first six months of 2026, swinging from a loss to net profits of 97 million baht and 347 million baht respectively. The main supporting factors were revenue recognition from unit transfers at The Residences at Dusit Central Park and growth at Dusit Thani Bangkok, where average revenue per available room rose 21.5 percent. Total revenue in the second quarter was 3.633 billion baht, up 113.8 percent from the same period last year, while EBITDA was 761 million baht, up 550.4 percent. For the six-month period, total revenue was 6.903 billion baht, up 69.5 percent, and EBITDA was 1.621 billion baht, up 156.1 percent. The company maintains its full-year 2026 targets of total revenue growth of 5 to 8 percent and EBITDA at 18 to 20 percent of total revenue. Although it faces pressure from Middle East conflicts affecting hotels in the Maldives and the Middle East, its hotel portfolio in Thailand and Asia Pacific remains strong enough to partly offset the impact. The company is also expanding its hotel management business into Saudi Arabia, bringing the total number of hotels and villas under management to 290 across 19 countries, and issued its first debentures of 2026 worth 1.5 billion baht to repay maturing debentures.