Opportunity Day | 1H 2024
30 August 2024
Agenda
Page | |
1H 2024 Recap | 5 |
Financial Results | 23 |
2024 Outlook & Guidance | 27 |
Dusit Sustainability | 33 |
Dusit Thani Bangkok Hotel | 35 |
Dusit Suites Athens, Greece
Welcome to the world of Dusit
Proud of our Thai heritage, uniquely delivering gracious hospitality to the world.
75 | 20* |
Years in hospitality | Countries across |
business | 4 continents |
290+ | 12,700+ |
Properties in key | Keys in operation |
strategic locations |
* 18 Countries for hotel and villa management |
Greece | |||
Athens | Qatar | Nepal | |
Egypt | Doha | Kathmandu | |
Dhulikhel | |||
Cairo | |||
Oman | India | ||
Jabal Akhdar | Maharashtra | ||
Goa | |||
Kenya | UAE | ||
Abu Dhabi | |||
Nairobi | |||
Dubai | |||
Sri Lanka | |||
Maldives | |||
Baa Atoll |
China
Changzhou
Guangzhou
Jiangsu
Guangdong
Zhejiang
Dalian
Japan
Kyoto
Vietnam Niseko
Phu Quoc
Hanoi | Philippines | ||
Manila | |||
Ho Chi Minh | |||
Cebu | |||
Hai Phong | |||
Davao | |||
Hong Kong | Lubi Island | USA | |
Guam | |||
Cambodia | |||
Phnom Penh | |||
Singapore | |||
Singapore | |||
Indonesia | |||
Bali | |||
Lombok | |||
Thailand | Nusa Lembongan | ||
Bangkok | |||
Chiang Mai | |||
Hua Hin | |||
Khao Yai | |||
Koh Samui | |||
Krabi | Hotels | ||
Pattaya | |||
Phuket | Villa Management | ||
Phatthalung | |||
College / School |
As of 30 June 2024 |
Food Business |
4
1H 2024 Recap
Tourism recovery continues
Global International Tourism | International Tourist Arrivals to Thailand | Monthly International | |||||||
% Percentage change over 2019 | Tourist Arrivals to Thailand | ||||||||
2021 | 2022 | 2023 | 1Q24 | 36% | |||||
22% | 39.9 | 36.7 | 3.9 | ||||||||||||||||||||
5% | 3.7 | 2019 | |||||||||||||||||||||
2% | 3.6 | 3.5 | 3.5 | ||||||||||||||||||||
3.2 | 3.3 | 3.4 | |||||||||||||||||||||
28.2 | 3.1 | 3.1 | |||||||||||||||||||||
-3% | -6% | -1% | -4% | -5% | 2024 | 3.4 | 2.7 | 2.9 | 3.3 | 2023 | |||||||||||||
-10% | |||||||||||||||||||||||
-12% | 3.0 | 3.0 | 3.1 | ||||||||||||||||||||
-20% | -18% | ||||||||||||||||||||||
2.8 | 2.6 | 2.7 | 2.6 | 2022 | |||||||||||||||||||
-34% | -35% | -29% | -31% | 17.5 | 2.5 | 2.5 | |||||||||||||||||
2.3 | 2.2 | 2.2 | 2.2 | 2.2 | |||||||||||||||||||
2.1 | 2.1 | 2.1 | |||||||||||||||||||||
11.1 | 2.0 | ||||||||||||||||||||||
1.7 | |||||||||||||||||||||||
Millions0.1 | |||||||||||||||||||||||
-59% | -58% | 0.8 | |||||||||||||||||||||
-75% | -63% | -72% | Millions | 6.7 | 0.4 | 0.2 | 0.2 | 0.3 | 0.5 | 1.3 | 1.5 | ||||||||||||
-69% | 1.1 | 1.2 | |||||||||||||||||||||
-93% | 2019 | 2020 | 2021P 2022P 2023P 1H24P 2024F | Jan Feb Mar Apr May Jun | Jul Aug Sep Oct Nov Dec | ||||||||||||||||||
World | Europe | Asia & The | Americas | Africa | Middle East | ||||||||||||||||||
Pacific | |||||||||||||||||||||||
Source: United Nations World Tourism Organization (UNWTO) | F = Forecast | Source: TAT (1-18 Aug 2024 = 1.9 mn) | |||||||||||||||||||||
As of 21 May 2024 | P = Preliminary | ||||||||||||||||||||||
Source: Tourism Authority of Thailand (TAT) |
- Global tourism is expected to continue its recovery in 2024. According to UNTWO*, international tourism is expected to fully recover pre-pandemic levels in 2024, with initial estimates pointing to 2% growth above 2019 levels (vs 88% of pre-pandemic levels in 2023). The latest data from UNWTO showed that international tourism reached 97% of pre-pandemic levels in 1Q24.
- For domestic tourism, in 1H24 there were approximately 17.5 million international tourist arrival in Thailand, an increase of 35.0%
YoY. This accounted for 48% of the Thai government's target for 2024, which is set at 36.7 million.
Remark: According to TAT, Thailand welcomed 22.5 million foreign tourists from 1 Jan 2024 - 18 Aug 2024, an increase of 33% YoY, accounting for 61% 2024 target. | 6 |
Greece
Athens
Egypt
Cairo
Kenya
Nairobi
Qatar
Doha
Oman
Jabal Akhdar
UAE
Abu Dhabi
Dubai
Maldives
Baa Atoll
Nepal
Kathmandu
Dhulikhel
India
Goa
Sri Lanka
China
Changzhou
Guangzhou
Jiangsu
Guangdong
Zhejiang
Japan
Kyoto
Niseko
Vietnam Philippines
Phu Quoc Manila
Cebu
Davao
Lubi Island USA
Guam
Singapore
Singapore
Indonesia | |
Bali | |
Thailand | Lombok |
Nusa Lembongan | |
Bangkok | |
Chiang Mai | |
Hua Hin | |
Khao Yai | |
Koh Samui | |
Krabi | |
Pattaya | |
Phuket | |
Phatthalung |
Our Hotel Business
We offer superior experiences across the lodging spectrum,
from affordable lifestyle to bespoke villa rentals.
Our global presence:
297 | 18 | ||
Properties in key strategic locations | Countries | ||
56 | Hotels and Resorts | ||
241 | Villas | ||
12,747 | 8 |
Keys in operation | Brands of hotel and resorts |
Our brands: |
As of 30 June 2024
Hotels | Luxury villa |
management |
7
Stronger hotel stats in 1H24
+4.3% | |||||||||||||||||||||||||||||||||||||||||
No. of Rooms | Occupancy Rate* | -11.1% | |||||||||||||||||||||||||||||||||||||||
+5.6% | |||||||||||||||||||||||||||||||||||||||||
11,682 | |||||||||||||||||||||||||||||||||||||||||
10,204 10,907 11,145 | 11,506 | 77%74% | 70%76% | 75% | 81% | ||||||||||||||||||||||||||||||||||||
70% | 73% | 70% | |||||||||||||||||||||||||||||||||||||||
69% | 66%68% | ||||||||||||||||||||||||||||||||||||||||
8,363 | 59% | 58%62% | |||||||||||||||||||||||||||||||||||||||
No. of Hotel Properties | 7,150 | 36%39% | 50%47% | ||||||||||||||||||||||||||||||||||||||
39% | |||||||||||||||||||||||||||||||||||||||||
1H24: | 10 Owned | 63% | 76% | ||||||||||||||||||||||||||||||||||||||
46 Managed | 74% | 79% | 80% | 80% | 80% | ||||||||||||||||||||||||||||||||||||
37% | 26% | 24% | 21% | 20% | 20% | 20% | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 1H23 | 1H24 | 3Q21 | 4Q21 | 1Q22 | 2Q22 | 3Q22 | 4Q22 | 1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 | 2Q24 | |||||||||||||||
2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 1H24 | |||||||||||||||||||||||||||||||||||
Owned | Managed | ||||||||||||||||||||||||||||||||||||||||
Avg Daily Rate* | +6.7% | RevPar* | +13.6% | ||||||||||||||||||||||||||||||||||||||
THB | +8.6% | -26.9% | THB | -36.8% | |||||||||||||||||||||||||||||||||||||
+17.3% | |||||||||||||||||||||||||||||||||||||||||
3,670 | 3,610 | 3,212 | 2,849 | 3,494 | 3,812 | 3,892 | 4,227 | 2,321 | 3,266 | 3,899 | 3,041 | 3,057 | 3,989 | 4,413 | 3,311 | 3,201 | 4,230 | 4,828 | 3,531 | 2,841 | 2,685 | 1,140 | 1,109 | 2,058 | 2,658 | 2,735 | 3,209 | 912 | 1,645 | 1,833 | 1,751 | 1,885 | 2,753 | 3,289 | 2,187 | 2,174 | 3,096 | 3,932 | 2,485 | ||
2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 1H23 | 1H24 | 3Q21 | 4Q21 | 1Q22 | 2Q22 | 3Q22 | 4Q22 | 1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 | 2Q24 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 1H23 | 1H24 | 3Q21 | 4Q21 | 1Q22 | 2Q22 | 3Q22 | 4Q22 | 1Q23 | 2Q23 | 3Q23 | 4Q23 | 1Q24 | 2Q24 |
Remark: *Owned hotel stats (organic)
8
Owned hotel portfolio delivers RevPar gains
Successful increase of ADR and occupancy rates drives hotel RevPar up 17.3% YoY - surpassing pre-COVID-19 levels.
Total Occupancy Rate
85% | |||
81% | 70% | 74% | 75% |
70% | |||
75% | 66% | 68% | 73% |
1Q | 2Q | 3Q | 4Q | |
2019 | 2023 | 2024 | ||
Total RevPar | |||
THB | |||
4,828 | |||
3,688 | 3,531 | 3,096 | |
2,287 | |||
2,174 | |||
3,289 | 2,783 | ||
2,187 | 1,791 | ||
1Q | 2Q | 3Q | 4Q |
2019 | 2023 | 2024 |
Remark: Owned hotel data; *Thailand excluding ASAI Hotels
Overseas
79%
73% | 77% | 77% | 77% |
67% | |||
67% | 61% | 60% | 68% |
1Q | 2Q | 3Q | 4Q | |
2019 | 2023 | 2024 | ||
Overseas
THB
5,108
4,873 | 3,912 | 3,717 | 4,130 | |||||||
3,487 | ||||||||||
4,364 | 4,226 | |||||||||
2,891 | 2,932 | |||||||||
1Q | 2Q | 3Q | 4Q | |||||||
2019 | 2023 | 2024 | ||||||||
Thailand*
84% | ||
82% | ||
70% | 68% | 74% |
67% | ||
78% | 69% | 74% |
67% | ||
1Q | 2Q | 3Q | 4Q | |
2019 | 2023 | 2024 | ||
Thailand*
THB
3,830
3,171 | 2,265 | 2,896 | ||||||
2,900 | 2,077 | 2,001 | ||||||
2,273 | ||||||||
1,722 | 1,640 | |||||||
1Q | 2Q | 3Q | 4Q | |||||
2019 | 2023 | 2024 |
9
Our Hospitality Education Business
Our hospitality education programmes include unique concepts designed in collaboration with industry experts.
Collaboration with esteemed partners
Challenge continued from the market slowdown, particularly the professional education (non-degree) programmes. Overall industry numbers for higher-degree education have been declining. However, DUSIT's education business managed to have positive EBITDA in 1H24 as planned due to the effective control of costs and expenses.
10
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