Centara Hotels & Resorts, Thailand’s leading hospitality group, is poised for a remarkable year in 2024. Building on a successful 40th anniversary year in 2023, Centara unveils a dynamic development plan that promises exciting new properties, brand revitalizations, and innovative guest experiences. This ambitious strategy aligns with their vision of becoming “The Place to Be” for global travelers and securing a coveted spot among the top 100 hotel operators worldwide by 2027.
2023: A Year of Achievements and Momentum
2023 proved to be a pivotal year for Centara. They laid a solid foundation for future growth, celebrating significant milestones. These included the grand opening of Centara Grand Hotel Osaka, marking their inaugural foray into the Japanese market. Additionally, Centara garnered prestigious accolades such as Kincentric’s “Best Employers Thailand Award” and the “Strongest Brand in Thailand” title for Centara Grand. Financially, 2023 yielded impressive results. Centara achieved total revenue of THB 9,932 million, surpassing 2022 figures by 52%. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) surged by an impressive 83% to THB 3,284 million. Revenue per available room (RevPAR) also saw a significant 19% year-on-year increase, reaching THB 4,141. This rise is attributed to a combination of increasing occupancy rates and room rates. Looking ahead, Centara forecasts a continued upward trend in RevPAR, projecting it to reach up to THB 4,300 in 2024, alongside an anticipated occupancy rate climb to 70-73%.
Expansion and Innovation Drive Growth in 2024
Capitalizing on the momentum of 2023, Centara has a series of major projects lined up for 2024. Six new properties are slated to open throughout the year, expanding their geographical reach and diverse offerings:
Thailand: Three exciting new properties will grace Thai soil: the 61-key Centara Life Lamai Resort Samui, the intimate 40-key Centara Villas Phi Phi Island, and the 110-key Centara Life Surat Thani.
Laos: Centara strengthens its presence in Laos with two new additions: the 100-key COSI Vientiane Nam Phu and the 162-key Centara Plumeria Resort Pakse.
Maldives: A paradise awaits in the Maldives with the arrival of the 145-key Centara Mirage Lagoon Maldives.
This new property marks the first phase of The Atollia by Centara Hotels & Resorts, a captivating multi-island destination nestled in the idyllic North Malé Atoll. Just a 30-minute speedboat ride from Malé’s Velana International Airport, this haven caters to families with its activity-packed, underwater-themed design. Centara Mirage Lagoon Maldives boasts an array of facilities centered around a water park, promising endless fun for all ages. Following in Q1 2025, the sophisticated upper-upscale 142-key Centara Grand Lagoon Maldives will complement this development, offering travelers the opportunity to experience two distinct vacation styles within the same breathtaking location.
Renovations and Brand Revitalization
Centara is also committed to refreshing its existing portfolio. Two of their flagship properties, the 335-key Centara Karon Resort Phuket and the 553-key Centara Grand Mirage Beach Resort Pattaya, are set to undergo comprehensive renovations in 2024. Building upon the successful launch of Centara Life (formerly known as Centra by Centara) late last year, the group is now revitalizing its Centara Boutique Collection. Additionally, Centara is actively seeking expansion opportunities for its diverse brand portfolio, 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 currently in the pipeline.
A Core Focus on Guest Experience and Sustainability
Centara’s development strategy is firmly rooted in its core values, emphasizing Thai-inspired, family-centric hospitality. Their loyalty program, CentaraThe1, is being revamped to offer greater benefits, rewards, and redemption opportunities. Significant digital investments are also planned, including the development of a loyalty-focused application. This app will streamline booking options and enhance the guest experience through features like chatbots and other innovative functionalities.
Thirayuth Chirathivat, Centara’s Chief Executive Officer, echoed the sentiment of optimism: “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 jumped from 150th 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.”
Centara Hotels & Resorts: A Year of Expansion and Guest-Centric Innovation
With a robust development plan for 2024, Centara Hotels & Resorts is poised for continued growth and success. Their commitment to introducing new properties, refreshing existing brands, and prioritizing guest experience through innovative technology and unwavering sustainability practices positions them for a bright future. Centara’s dedication to Thai-inspired hospitality ensures that guests will continue to experience the warmth and charm synonymous with Thai culture at all their locations.
Frequently Asked Questions
Q: What are Centara Hotels & Resorts’ goals for 2024?
A: Centara aims to solidify its position as Thailand’s leading hotel group and establish itself as a top 100 global hotel operator by 2027. They plan to achieve this through a combination of strategic expansion, brand revitalization, and guest experience enhancements.
Q: What new properties are Centara opening in 2024?
A: Centara has six new properties slated to open in 2024: 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).
Q: How is Centara prioritizing guest experience?
A: Centara is investing in innovative technologies such as a loyalty-focused app with features like chatbots to streamline booking and enhance guest communication. They’re also committed to sustainability practices to ensure a positive environmental impact.
