Hotels, Resorts & Cruise Lines

Viking Holdings reported second-quarter 2026 adjusted earnings of $1.31 per share, up 32.3% from 99 cents a year ago and 4.8% above the Zacks Consensus Estimate of $1.25. Total revenues of $2.19 billion increased 16.5% year over year and beat the consensus mark of $2.13 billion by 3.1%, driven by higher Capacity Passenger Cruise Days and increased revenue per PCD, with Net Yield rising 6.2% to $645. Capacity PCDs increased 10.9% on fleet growth, though occupancy slipped to 94.4% from 95.6%, and Viking carried 249,999 passengers, up from 224,643. Adjusted EBITDA rose 18.2% to $748.43 million and net income climbed to $587.70 million from $439.24 million. For 2026, Viking had sold 96% of Core Products Capacity PCDs as of Aug. 9, 2026, with Advance Bookings of $6.39 billion, 13.0% above the comparable 2025 level, while for 2027 it had sold 53% of Capacity PCDs with Advance Bookings of $4.71 billion, 21.0% higher than the comparable 2026 level. Since the prior earnings release, consensus estimates have shifted down 11.22%, and the stock carries a Zacks Rank #3 (Hold).

Trip.com Group reported better-than-expected second-quarter results, with net revenue rising 6% year over year to 15.7 billion Chinese yuan. Adjusted earnings per ordinary share and ADS came in at 7.27 Chinese yuan, up from 7.20 Chinese yuan a year earlier, while adjusted EPS of $1.07 beat the analyst estimate of $0.91 and revenue of $2.308 billion topped the $2.290 billion estimate. Accommodation reservation revenue rose 6% year over year to 6.6 billion Chinese yuan, or 8% excluding a contra-revenue item tied to an administrative penalty from China's State Administration for Market Regulation, while package tour revenue climbed 8% to 1.2 billion Chinese yuan and corporate travel revenue increased 11% to 771 million Chinese yuan. Transportation ticketing revenue fell 1% to 5.4 billion Chinese yuan on softer demand, higher fuel prices, geopolitical tensions and industry compliance adjustments. Trip.com said more than 70% of its total bookings now come from mobile, a new high for the platform, and that revenue from its international online travel agency platform jumped more than 50% year over year, with first- and business-class flight bookings up more than 70% in the first half of 2026 and AI-assisted orders through TripGenie up about 400%.

The analyst team at KGI Securities (Thailand) says it holds an increasingly positive view on the outlook for Thailand's tourism sector, citing a recovering trend in foreign tourist arrivals, rising flight capacity, and still-resilient domestic tourism, all of which should support the operating results of hotel operators in the second half of 2026. Foreign tourist arrivals from January 1 to September 12, 2026 stood at 21.72 million, down 3.4% from the same period a year earlier. Meanwhile, the Tourism Authority of Thailand expects the number of Chinese tourists during the travel season and the long Golden Week holiday to rise 24% from the same period last year to about 250,000. The research team expects RevPAR to accelerate in the third quarter of 2026, turning back to positive growth after a 10% decline in the second quarter of 2026, and forecasts that RevPAR for hotels in Thailand will grow at rates ranging from single digits up to about 20% compared with the same period a year earlier. Among hotel stocks, Asset World Corp, or AWC, is expected to be one of the leaders of the recovery, with RevPAR forecast to grow 24% from the same period a year earlier, while Central Plaza Hotel, or CENTEL, is expected to post mid-teens RevPAR growth, and The Erawan Group, or ERW, is expected to grow at a single-digit rate. The research team maintains an overweight stance on the hotel sector, naming AWC with a target price of 3.60 baht and CENTEL with a target price of 49.00 baht as its top picks, while keeping a buy rating on ERW with a target price of 4.30 baht, MINT with a target price of 30.00 baht, and SHR with a target price of 1.90 baht.

Trip.Biz, the business travel brand of Trip.com Group, launched Agent ONE, a suite of four connected AI agents for the end-to-end business travel lifecycle, at its Transform 2026 summit in Singapore. The four agents are a Planning Agent, a Booking Agent, an Approval Agent and an Insight Agent. Trip.Biz said early performance targets show average booking time dropping from around 45 minutes to 2 minutes, a 90% efficiency improvement, while approval wait times fall from over an hour to under 3 seconds and a full travel analysis report is generated in under 7 minutes, a task that previously took analysts up to a week. CEO Tao Song positioned Agent ONE as a purpose-built AI solution rather than an incremental product update, and the company said the tool is now available globally across all Trip.Biz-supported markets. Trip.Biz also cited a 90% SLA compliance rate and an 80%+ satisfaction score across the region it serves.

Booking Holdings is expected to post earnings of $4.49 per share for the current quarter, a year-over-year change of +12.8%, with the Zacks Consensus Estimate up +0.4% over the last 30 days. For the current fiscal year, the consensus earnings estimate of $10.5 points to a change of +15.1% from the prior year, while the next fiscal year's consensus estimate of $12.41 indicates a change of +18.2%. Revenue estimates for the current quarter stand at $9.57 billion, a year-over-year change of +6.3%, with current and next fiscal year estimates of $29.28 billion and $31.94 billion indicating changes of +8.8% and +9.1%, respectively. In the last reported quarter, Booking Holdings posted revenues of $7.35 billion, up +8.1% year over year, and EPS of $2.54 versus $2.22 a year ago, beating the Zacks Consensus Estimate of $7.19 billion by +2.26% on revenue and by +3.67% on EPS. Based on the size of the recent change in the consensus estimate along with three other factors related to earnings estimates, Booking Holdings is rated Zacks Rank #3 (Hold), suggesting it may perform in line with the broader market in the near term.

Domestic hotel giants are making an aggressive push into the long-term rental apartment market. Huazhu will launch a "sojourn" channel on its membership platform to integrate Chengjia Apartment resources and offer weekly and monthly rental products, while Jin Jiang Hotels has unveiled the "Tuling Apartment" and "Lingju Apartment" brands. International brands such as Marriott, Accor, and Hyatt are also accelerating their positioning. Huazhu's sojourn channel covers more than 50 cities and over 100 properties. Taking first-tier cities like Beijing and Shanghai as an example, Chengjia Apartment listings in downtown locations generally range from 3,000 to 6,500 yuan per month, with some units in outlying areas priced as low as 1,100 yuan per month. Data disclosed at Jin Jiang Hotels' launch event shows that Tuling's nationwide bed count has surpassed 4,496, and Lingju's Shekou store in Shenzhen was fully leased upon opening. Chengjia Apartment told Red Star Capital Bureau on September 17 that so far about 88 percent of all sojourn orders have come from members who had previously placed orders on Huazhu's platform, while about 4 percent are newly registered Huazhu users. Li Zhanpu, a senior analyst at TravelDaily, told Red Star Capital Bureau on September 17 that the core driver is mounting growth pressure on the core hotel business, making the long-term rental apartment sector a strategic choice for exploring a second growth curve. However, he also noted that the long-term rental apartment sector itself is already very crowded, and hotel brands entering the market is equivalent to "carving out a piece of meat" from established players. In the next three to five years, hotel-affiliated players may still be unable to become mainstream forces in long-term rental apartments.

Morgan Stanley named Booking Holdings its top pick among online travel agents, arguing that artificial intelligence will reward scale and fragmented inventory while leaving Expedia and Airbnb with narrower paths to upside. Analyst Matthew Cost rates Booking Overweight with a $230 price target, implying 34% upside from Tuesday's close, citing its portfolio of 4.7M unique properties, global scale, and a single-platform agentic call option. Expedia earns an Underweight rating, as Cost sees a similar travel-specific AI agent opportunity but doubts the company can execute as quickly given weaker consumer engagement and an inconsistent track record, and he also flags Expedia's narrow P/E discount to Booking as a reason the spread should be wider. Airbnb was upgraded to Equal-weight from Underweight on the strength of its 90% direct traffic mix and platform improvements that make double-digit room nights growth more credible, though Cost says that growth is already priced in and material upside would require a further step-up in growth or margins. The rating changes moved all three stocks Wednesday, with Booking and Airbnb trading higher while Expedia slipped after a four-session winning streak.

SK Hynix and Intel shares each rose more than 2.5% premarket after a Reuters report that SK Hynix was in talks with Intel to manufacture memory chips in the U.S. for the first time, though SK Hynix said no decisions have been made regarding any partnership with Intel. J.B. Hunt Transport Services tumbled more than 11% after warning that its earnings may fall between 5% and 10% in the third quarter compared to the previous three-month period, a decline it attributed to internal adjustments for rising rates of purchase transportation. Expedia fell more than 2.5% after Morgan Stanley downgraded the stock to underweight, citing a weak risk/reward profile and greater exposure to a potentially weaker consumer. Energy stocks moved lower as U.S. oil prices fell 2% following a report that energy inventories rose last week, with Diamondback Energy down almost 4%, Occidental Petroleum off 1%, and ExxonMobil and Devon Energy each down almost 1%. Paychex rose more than 1% on a Wolfe Research upgrade to peer perform, while Union Pacific gained 1.5% after UBS upgraded the stock to buy.

Asset World Corp, or AWC, has announced a long-term strategic expansion of its partnership with Meliá Hotels International to develop luxury and lifestyle hotels and resorts in Thailand, targeting a combined portfolio of more than 3,000 rooms by 2036 across the Meliá Hotels & Resorts, ME by Meliá, Paradisus Jomtien Hotel by Meliá, INNSiDE by Meliá and Gran Meliá Hotels & Resorts brands. A key highlight is the launch of Paradisus Jomtien Resort in 2031 on Jomtien Beach in Pattaya, marking the first time an all-inclusive luxury resort brand enters Thailand. In the fourth quarter of 2026, AWC will open a new Meliá hotel in the Sukhumvit 24 and 26 area, before fully upgrading it to the ME by Meliá and Meliá Hotels & Resorts brands in the fourth quarter of 2027. AWC currently has about 1,900 rooms under joint management with Meliá, both already in operation and under development, making AWC the largest owner of Meliá-branded hotels in Thailand. Wallapa Traisorat, Chief Executive Officer and President of AWC, said the partnership will help drive Thailand toward becoming a world-class sustainable tourism destination, while Gabriel Escarrer, Executive Chairman and Chief Executive Officer of Meliá Hotels International, said Thailand is one of the most important strategic markets in Asia-Pacific.

Delta Air Lines and Hyatt Hotels unveiled a new long-term loyalty collaboration that ties together their elite rewards programs. The agreement introduces dual earning of airline miles and hotel points on qualifying bookings across both brands for eligible members, and elite customers are expected to see integrated recognition and benefits across flight and hotel stays as the partnership rolls out. Delta Air Lines, a US carrier providing scheduled passenger and cargo flights, operates as a large player in the global aviation industry with a market value of about $52.2b. The tie-up leans into the part of the Delta story that looks to premium cabins, loyalty and international routes as more resilient revenue streams, and could offset pressure in weaker domestic main cabin segments where low cost carriers like Southwest or Frontier compete aggressively. The bigger tension is whether higher loyalty engagement can meaningfully counter risks analysts already flag, such as high debt levels and any future softness in corporate travel.

The research department of Asia Plus Securities said that fiscal 2027 budget disbursement, which will circulate through the economy and stimulate domestic GDP, will benefit four industries worth watching. The retail group, or COMM, gains from government measures that support purchasing power and grassroots-level consumption, with standout stocks CPALL, CPAXT and BJC. The tourism and services group, or TOURISM, receives support from tourism promotion budgets and airport infrastructure, with standout stocks AOT, CENTEL and THAI. The banking group, or BANK, grows in line with an overall GDP recovery driven by the budget injection, with standout stocks BBL, KBANK and KTB. The construction and construction materials group will unlock the investment cycle and disbursement of state mega-projects, with standout stocks SCC, SCCC, TPIPL, CK and STECON. In a highly volatile market, the research department selected standout stocks with their own specific positive factors. CK gains fully from the positive momentum of the fiscal 2027 Budget Act passing parliament, with expectations that state mega-projects will move forward. ERW is a tourism stock benefiting from the weaker baht, government stimulus programs such as Thai Tiew Thai Plus, and the Golden Week festival. BDMS is a medical stock whose current price has been slow to rise, or a laggard, but its third-quarter 2026 earnings are expected to recover strongly on both Thai and foreign patients.

Asset World Corp Public Company Limited, or AWC, has announced a long-term strategic expansion of its partnership with Meliá Hotels International to jointly develop luxury and lifestyle hotels and resorts in key destinations across Thailand, under a long-term development plan running through 2036 with a combined room portfolio of more than 3,000 rooms, spanning the Meliá Hotels & Resorts, ME by Meliá, Paradisus Jomtien Hotel by Meliá, INNSiDE by Meliá and Gran Meliá Hotels & Resorts brands. Wallapa Traisorat, Chief Executive Officer and President of AWC, said one of the projects to watch is Paradisus Jomtien Resort, which will bring the brand to Thailand for the first time, scheduled to open in 2031 on Jomtien Beach in Pattaya as an all-inclusive luxury resort. AWC currently has approximately 1,900 rooms from hotels already in operation and projects under development, making it the largest owner of Meliá-branded hotels in Thailand. It also plans to bring two more Meliá hotels to Sukhumvit 24 and 26, scheduled to open in the fourth quarter of 2026 under transitional brand names before being rebranded as ME by Meliá and Meliá Hotels & Resorts in the fourth quarter of 2027. Gabriel Escarrer, Executive Chairman and Chief Executive Officer of Meliá Hotels International, said Thailand is one of the company's key strategic markets in the Asia-Pacific region. Meliá Hotels International was founded in 1956 and currently has more than 400 hotels in its portfolio across more than 40 countries worldwide.

Airbnb has launched a new Housing Accelerator, committing $250 million in initial funding that aims to unlock up to $5 billion for affordable and mixed income rental projects over the next decade. The program targets near shovel ready developments that still lack final capital, with the first $6.4 million going to support 201 affordable units in Austin, Texas. Airbnb shares last traded at US$170.65, down 7.29% over the past month and 6.21% over the past week, though the 1 year total shareholder return stands at 41.77% and the 3 year total shareholder return at 19.71%. The most followed narrative pegs Airbnb's fair value at $181.84, implying the stock is 6% undervalued, while a discounted cash flow model points to a future cash flow value of $302.45 per share, a 43.6% discount.

Morgan Stanley raised its price target on Target Hospitality to $25 from $22, reiterating an overweight rating, citing an accretive contract win in the lodging services provider's West Texas home territory. The new target reflects 8 times Morgan Stanley's fiscal year 2027 adjusted EBITDA estimate of $319 million, up from $287 million previously and 22% above the consensus of $261 million. The revision follows the company's late-August announcement of a 1,100-bed contract with a new customer, which arose after a data center accelerated construction ahead of schedule and the developer needed to house workers immediately. Morgan Stanley now models total revenue of $121 million for the third quarter of 2026, $438 million for full-year 2026 and $843 million for full-year 2027, up from prior estimates of $117 million, $418 million and $778 million, with adjusted EBITDA estimates for those periods of $30 million, $111 million and $319 million versus $34 million, $104 million and $287 million previously. The broker assumes 1,400 beds are converted from Target Hospitality's pipeline of more than 20,000 beds into revenue by 2027 at a $150 average daily rate, assumes a Lithium Americas mining contract is renewed beyond its initial term of September 2027, and estimates $30 million in additional run-rate variable revenue exiting 2027 that has been excluded from current guidance.

Bangkok has placed in the top three Asian destinations that travelers choose to revisit most, for a second consecutive year, trailing only Tokyo and ahead of Bali, Seoul and Osaka, according to first-half 2026 accommodation booking data from digital travel platform Agoda. In the domestic market, Bangkok, Phuket, Pattaya, Chiang Mai and Hat Yai remain the five most revisited cities for a second straight year, all holding their previous rankings. The Bank of Thailand reported that in July 2026 Thailand received 2.55 million foreign tourist arrivals, with the national average occupancy rate at 70.05% and the central region including Bangkok at 72.40%. Meanwhile, Tourism and Sports Minister Surasak Phanchareonworakul said the Thai Tiew Thai Plus program, with a budget of about 4 billion baht, is targeted for submission to the Cabinet meeting on September 22, 2026, and is expected to generate more than 20 billion baht in economic circulation. As for Asia Hotel Public Company Limited, or ASIA, information from its 2026 annual general meeting of shareholders showed that Asia Hotel Bangkok posted first-quarter total revenue of 102.89 million baht, up 21.21% from the same period a year earlier, with an average occupancy rate of 91.95% versus 90.22% and an average room rate of 2,078.40 baht, up from 1,773.66 baht. Although the second-quarter booking picture has become more cautious and advance bookings have shortened, the arrival of the late-year high season, combined with Bangkok's popularity and domestic travel stimulus measures under consideration, are positive factors for operators managing occupancy rates and revenue per room.

Airbnb CEO Brian Chesky told CNBC's David Faber at Goldman Sachs' technology conference this week that AI is the best thing to happen to his company, backing the claim with operating numbers. Airbnb is shipping 80% more software than a year ago, and its AI assistant now resolves nearly 45% of customer service issues without a human agent, while customer support cost per booking fell about 16% year over year. For the quarter, revenue rose 16.54% to $3.608 billion, net income climbed 27.1% to $816 million, and free cash flow jumped 31.62%, with adjusted EBITDA margin at 35% and management raising the full-year 2026 target to at least 35.5%. Airbnb outpaced Booking Holdings' 8.2% revenue growth and Expedia Group's 14%, though both rivals are deploying similar AI tools, and Chesky's electricity analogy holds that appliers eventually capture more value than builders. Experience supply grew nearly 80% year over year, hotel nights are growing roughly three times faster than home nights, and about 35% of first-time hotel guests return to book a home, while the stock trades around $167.65, up 23.53% year to date.

Metaplanet announced on September 11 that it will establish a wholly owned subsidiary in Hong Kong to handle asset management. The move is aimed at expanding its asset management business by setting up an Asian operational base that will work in coordination with its U.S. subsidiary. The company is advancing a concept called Project Nova, which builds on its business of purchasing and holding bitcoin to broaden its revenue sources into financial services such as customer-facing asset management and securities, and the new establishment is part of that effort. The core of the group's asset management business will be handled by a subsidiary in Miami, Florida, announced in March of this year, while the Hong Kong subsidiary will mainly handle trading of managed assets during Asian hours and monitoring of holdings and market trends. The new company will manage customer funds and its own capital through multiple investment strategies, targeting bitcoin, shares of related companies, and preferred securities issued by companies that hold bitcoin as a treasury asset. The establishment is planned for September 2026, with initial capital of 1 million dollars, equivalent to about 150 million yen at 150 yen to the dollar.

DAOL Securities (Thailand), or DAOL, is overweight the tourism sector, taking a positive view of the fourth-quarter high season on expectations that tourist numbers will rise significantly. The main driver comes from airlines gradually opening new routes and adding flights between October and December 2026 and continuing through April 2027, mostly direct flights from the United States and Europe to Bangkok, Krabi and Phuket. Between October and December, about 10 airlines are preparing to launch new routes to Thailand, including LOT Polish Airlines, Virgin Atlantic, Belavia, Lufthansa, SAS Scandinavian Airlines and Vietjet. This is in line with data from the Tourism Authority of Thailand, which plans to stimulate the market in the final four months of the year with major events and festivals to push total Thai tourism revenue in 2026 to 2.7 trillion baht and lift foreign arrivals to the target of 33 million. The research team estimates that the stocks benefiting most, ranked by the share of domestic hotels from high to low, are ERW, CENTEL, MINT and SHR. For 2026, total foreign arrivals are forecast at 32 million, down 3% from a year earlier, while Chinese tourists are expected at 4.8 million, up 7% from a year earlier. On investment strategy, DAOL recommends buying CENTEL with a target price of 48.00 baht, supported by revenue per available room, or RevPAR, rising 8% year on year in July and August, while third-quarter advance bookings rose 8% year on year and fourth-quarter advance bookings grew at a double-digit pace year on year, leading it to expect a standout recovery in fourth-quarter earnings. The stock currently trades at an EV/EBITDA of just 13 times. It also recommends buying ERW with a target price of 4.20 baht, benefiting from third-quarter advance bookings with RevPAR expected to grow about 5% year on year from a low base, while the fourth quarter brings global events such as the World Bank and IMF meetings in October and the Tomorrowland music festival in December, driving a steady stream of bookings that has already pushed occupancy as high as 80%. The stock currently trades at a PER of 20 times, below its average of about 25 times.

Airbnb, Inc. closed at $170.19, up 1.52% from the prior session, outpacing the S&P 500's 0.86% gain, while the Dow added 0.98% and the Nasdaq rose 0.96%. The company's upcoming earnings release is projected to show earnings per share of $2.88, a 30.32% increase from the same quarter last year, with revenue forecast at $4.74 billion, up 15.79% year over year. For the full year, the Zacks Consensus Estimates project earnings of $5.24 per share and revenue of $14.1 billion, representing changes of +30.02% and +15.21%, respectively, from the preceding year. Over the past month, the Zacks Consensus EPS estimate has risen 0.31%, and Airbnb currently carries a Zacks Rank of #3 (Hold). The stock trades at a Forward P/E ratio of 32, a premium to its industry's average of 15.49, and carries a PEG ratio of 1.94 versus the Leisure and Recreation Services industry's average of 1.13.

Viking Holdings announced on Friday that its Viking Astrea hydrogen-powered cruise ship has been floated out at Fincantieri's Ancona shipyard in Italy, moving the vessel into water for the first time for final construction and interior outfitting. Delivery is planned for May 2027, followed by the ship's first Mediterranean and Northern Europe season. The Astrea is intended to be Viking's second hydrogen-powered cruise ship capable of zero-emission operation, using a hybrid propulsion system built partly around liquefied hydrogen and fuel cells with up to six megawatts of output, which the cruise line operator said could let the vessel operate in environmentally sensitive areas without exhaust emissions during that mode. Sister ship Viking Libra, the first such hydrogen-capable cruise ship, is scheduled for delivery in November. Viking is the only major cruise operator currently confirmed to be bringing hydrogen-powered cruise ships into service.

Metaplanet CEO Simon Gerovich said the Japanese Bitcoin treasury company will cut the number of shares that could be issued under its Series 10 stock acquisition rights by 131.3 million, following shareholder criticism over potential dilution. The company said Friday it will reduce the number of shares tied to each right from 696 to 410, bringing the total number of potential shares down from 319.464 million to 188.19 million, a 41.1% reduction, while shares still available for future exercises will fall 55.5%, from 236.64 million to 105.366 million. The exercise price will remain JPY 10 per share, and shares acquired through the rights will continue to face a lock-up until August 17, 2031, with already-issued shares not returned or canceled. Gerovich said the change will eliminate more than $220 million in warrant value and lift Metaplanet's Bitcoin per fully diluted share by about 8.8%, with the company's filing showing Bitcoin per effective diluted share rising to 0.0286646 BTC from 0.0263554 BTC at the end of June. Metaplanet will also drop its plan to transfer up to 90,000 rights to a long-term officer and employee incentive vehicle, saying it will instead consider a new equity-based compensation plan incorporating the advice of a leading global compensation consultant. Metaplanet shares closed Friday down 3.8% and are down nearly 40% year-to-date.

Expedia Group CEO Ariane Gorin said travelers are still booking trips despite record-high gas prices, telling Yahoo Finance at the Goldman Sachs Communacopia & Tech Conference that Labor Day searches rose 35%, with vacation destinations like Las Vegas and places in Mexico leading demand. Gorin added that fall searches are shifting toward expensive cities such as Chicago, Boston and New York, and that more customers are using the company's budget and all-inclusive filters to find deals. According to AA, the national average gas price on Labor Day was $4.15 per gallon, the most expensive Labor Day ever at the gas pump. Expedia reported a 14% year-over-year revenue increase in the second quarter, with adjusted earnings per share up 36% from the prior year, and raised its full-year 2026 outlook, lifting revenue growth guidance to 9%-10% from 6% to 9% and increasing gross bookings projections to as high as $130.8 billion. Evercore ISI analyst Mark Mahaney called the valuation compelling at 14x P/E, citing a sustainable mid-teens EPS outlook supported by B2B segment growth above 20%, margin improvement and advertising revenue growth.

Marriott Vacations Worldwide raised its full-year adjusted free cash flow outlook to $410-$460 million from $375-$425 million previously, as stronger sales execution and cost discipline drove a recovery in growth and profitability. In the second quarter of 2026, contract sales increased 22% year over year to $545 million, while VPG rose 23% to $4,477, and owner contract sales climbed 41% on a 33% rise in owner VPG. Adjusted EBITDA rose to $215 million from $203 million a year earlier, development profit increased $14 million to $106 million, and marketing and sales expense as a percentage of contract sales improved 150 basis points year over year and 700 basis points sequentially. Adjusted free cash flow totaled $87 million in the second quarter and $201 million in the first half of 2026, compared with $22 million in the prior-year period, and the company ended the quarter with about $928 million in liquidity, including $211 million of cash and $650 million of available capacity under its revolving corporate credit facility. Net corporate leverage declined to 4.0 times from 4.2 times at the end of the first quarter, and management is targeting $200 million of noncore asset-sale proceeds by the end of 2027, while expecting inventory spending in Asia-Pacific to decline by $35 million this year.

ttb credit cards have teamed up with Trip.com, a leading online travel platform, to offer a seasonal travel privilege to holders of ttb so fast, ttb absolute, ttb Global House and ttb Disney credit cards. Cardholders will earn 1 extra ttb rewards plus point on top of the normal points for every 2 baht spent when they book and pay for hotels and accommodation worldwide, on bookings of 5,000 baht or more per transaction, through the link https://th.trip.com/w/ttbbonuspoint. Bookings can be made from 10 September 2026 to 31 December 2026, with stays from 10 September 2026 to 28 February 2027, and cardholders can earn unlimited extra reward points throughout the campaign. In addition, ttb credit card holders can choose to split payments with 0% interest for 3 months through the ttb so goood service when their spending is 1,000 baht or more per receipt, via the ttb touch app. Spending transactions made through the ttb so goood instalment plan will still earn the extra reward points under the promotion.