Central Plaza Hotel Plc (CENTEL) reported a rise of 3.1% to 5.3 billion baht in its first-quarter revenue from a year ago in line with a 15% increase in international tourist arrivals in the quarter. Chairman Suthikiati Chirathivat said 9 million foreign tourists arrived in the first three months, up 15.5% from 7.83 million in the same period of last year.
Consolidated revenue of 5.3 billion baht comprised hotel business revenue of 2.8 billion, up 3.1%, while the average occupancy rate of the company's hotels rose from 85.3% to 87%. Its food business revenue grew by 3.2% to 2.5 billion baht, with outlets increasing to 800 at the end of March from 777 at the end of last year.
Hotel business contributed 52.8% of revenue and food made up the remainder. However, the company's earnings before interest, tax, depreciation and amortisation decreased by 1.7% to 1.45 billion baht compared with last year. Consolidated net profit fell 9% to 758 million baht due mainly to lower losses carried forward for tax benefits, resulting in higher corporate income tax. CENTEL sharesclosed on the SET on Friday at 38.75 baht, unchanged, in trade worth 36.2 million baht.