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On the Road to Success: Centara Progresses Towards Top 100 Vision
2024 is set to be a momentous year for Centara Hotels & Resorts, as Thailand’s leading hotel operator embarks on an ambitious development strategy that will see the launch of iconic new properties, reimagined brands and exciting new guest experiences, in line with its goal of becoming “The Place to Be” for the world’s travellers and one of the planet’s top 100 hotel operators by 2027.
Centara laid solid foundations for its growth in 2023, its 40th anniversary year, with a series of successes including the debut of Centara Grand Hotel Osaka, its inaugural location in Japan, and a string of prestigious accolades such as Kincentric’s “Best Employers Thailand Award” and the “Strongest Brand in Thailand” title for Centara Grand. Last year, Centara achieved total revenues of THB 9,932 million, 52% higher than in 2023, while EBITDA surged 83% to THB 3,284 million. Revenue per available room (RevPAR) increased 19% year-on-year to THB 4,141, as a result of rising occupancy and room rates. Looking ahead to 2024, RevPAR is forecast to reach up to THB 4,300, as occupancy rates climb to 70-73%.
Now, Centara will build upon this strong platform with more major projects in 2024. Six new properties are on track to open this year: three in Thailand (Centara Life Lamai Resort Samui, Centara Villas Phi Phi Island, and Centara Life Surat Thani), two in Laos (COSI Vientiane Nam Phu, and Centara Plumeria Resort Pakse), and one in the Maldives (Centara Mirage Lagoon Maldives).
Set to open in November 2024, Centara Mirage Lagoon Maldives will mark the first phase of The Atollia by Centara Hotels & Resorts, a brand-new multi-island destination in the idyllic North Malé Atoll, just 30 minutes’ by speedboat from Malé’s Velana International Airport. The world’s fourth family-focused and themed Mirage resort from Centara (following popular resorts in Pattaya, Mui Ne and Dubai), this activity-packed, underwater-themed resort will feature a full range of facilities centred around a water park. Then in Q1 2025, it will be complemented by the 142-key Centara Grand Lagoon Maldives, a sophisticated upper-upscale resort, enabling travellers to experience two distinct vacation styles.
Two of Centara’s flagship hotels – the 335-key Centara Karon Resort Phuket and 553-key Centara Grand Mirage Beach Resort Pattaya – are set to emerge from comprehensive renovations in 2024. And following the unveiling of Centara Life (formerly known as Centra by Centara) late last year, the group is now in the process of revitalising its Centara Boutique Collection. The company is also seeking opportunities for the expansion of its six diverse brands, including the new Centara Reserve and Centara Mirage projects in Thailand, the Maldives, Japan, and Indonesia. China is another key focus market, with five potential signings in the pipeline.
Every aspect of Centara’s strategy will be underpinned by its core values of Thai-inspired, family-centric hospitality. CentaraThe1, the popular membership programme, will be leveraged to drive greater benefits, rewards and redemption opportunities, and important digital investments will include an application with loyalty at the heart to increase booking options including a chatbot and other innovations to improve the guest’s experience.
All corners of Centara’s development are established in a responsible and sustainable way. The group is working towards several important environmental targets, including a 20% reduction in greenhouse gas emissions by 2029, and overall net zero emissions by 2050. Further progress was made in 2023 and 2024, as 24 hotels and resorts were certified by Global Sustainable Tourism Council – GSTC, the world-leading organisation dedicated to sustainability and social responsibility and 1 hotel was certified by Green Key.
Michael Henssler, Centara’s Chief Operating Officer said: “2023 was a pivotal year for Centara as we celebrated our 40th anniversary, moved into new markets and achieved an upsurge in performance. We will build upon these foundations in 2024, introducing our diverse brands to key cities and resorts across the Asia Pacific and the Indian Ocean, while also strengthening our position as Thailand’s leading hotel group with new properties in secondary and tertiary destinations.”
Thirayuth Chirathivat, Centara’s Chief Executive Officer, commented: “We are delighted with the progress we are making towards our long-term goals. Having set ourselves the target of becoming a top 100 global hotel group by 2027, we rose to 111th in the rankings last year, which shows that we are well ahead of schedule. We look forward to revealing even more exciting projects to our esteemed partners and cherished guests in the coming months, as we continue to strengthen our position in the global hospitality sector.”
To learn more about Centara Hotels & Resorts, please visit www.centarahotelsresorts.com.
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