Veranda Resort Public Company Limited expects Thailand's tourism industry to expand strongly in the second half of the year, driven by several positive factors including the World Bank meetings in Bangkok, the Tomorrowland music festival in Pattaya, Chinese tourists in Chiang Mai, and the completion of Rama II Road supporting Hua Hin. The company has hotels in these key tourist destinations and is a leading hotel operator in Thailand's major tourist cities. For first-half results, the company reported total revenue of 857 million baht, up 16 percent from the same period last year, and normalised earnings before interest, tax, depreciation and amortisation of 276 million baht, an increase of 31 percent. Normalised operating profit was 61 million baht, growing 662 percent, with a non-cash accounting item from recognising a loss on early loan repayment of 56 million baht, which will help reduce financial costs over the long term. In the property business, the Veranda Villas and Suites Phuket project will begin transferring ownership and recognising revenue from July 2026 onwards, with a target to recognise revenue of 300 to 400 million baht in the second half of this year.
Veranda Resort Public Company LimitedExpects strong tourism growth and property revenue recognition in H2
