Hospitality giant Dusit Thani Plc's asset optimisation and investment diversification tallied 3.4 billion baht in 2021, an increase of 3.7% compared to the previous year.
The firm also posted a 130% year-on-year increase to 515 million baht in earnings before interest, taxes, depreciation and amortization (Ebitda). As for the net loss of 954 million baht, Dusit said the figure was down 6.5% from 2020.
Group chief executive Suphajee Suthumpun said clear improvement in the overseas hotel business, driven by the easing of international travel restrictions in several destinations worldwide, contributed to the firm's satisfactory Ebitda and revenue generation.
She added that the growth was also supported by Dusit's asset optimisation -- including the sale of Dusit Princess Chiang Mai Hotel -- alongside a rise in profits from the sales of available-for-sale investments diversified investment in the food business and property development projects.
"Recognising significant shifts in consumer demand and expectations, we also focused on enhancing our business model across three dimensions -- financial, business and operations -- and updated, retooled and reimagined where necessary to drive short-, mid- and long-term value. Our 2021 results reflect this," said Mrs Suphajee.
"We are confident that the steps we have taken since the beginning of the pandemic, and continue to take, will position us for swift and effective recovery when travel and other pandemic-related restrictions are eased further."
The National Economic and Social Development Council (NESDC) estimates the country will see 5.5 million tourists in 2022, a significant improvement on last year's 400,000 visitors, and closer to the 6.7 million visitors in 2020.
"While the Omicron variant is currently impacting business, the symptoms are less severe than previous variants, so we are confident that international travel and hotel business will be quick to rebound in line with effective vaccination programmes, reduced barriers to entry, and policies and procedures to help us safely live with Covid-19 as endemic," Mrs Suphajee said.
