Centel reiterates six-hotel plan: KGI target for Central Plaza Hotel stock

Published on 10/20/2026 at 01:24 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Central Plaza Hotel stock posted THB 166.44 million net income in Q2, down from THB 2,142.54 million in Q1. Revenue hit THB 5.78 billion versus THB 5.62 billion forecast.

Expansion and earnings signals

A report dated October 5, 2026 described a six-hotel pilot and a 50-site goal for 2031.
KGI Securities kept a THB 49.00 2027 target on September 29, 2026.
Second-quarter net income was THB 166.44 million versus THB 2,142.54 million in the first quarter.

Centel, TH0176B10Z00, Illustration mit AI erstellt.

Central Plaza Hotel stock is tied to a six-hotel pilot and a 50-location expansion plan, while KGI Securities keeps a THB 49.00 target for 2027. The latest operating update also follows a sharp second-quarter earnings decline, giving investors two figures to weigh as the hotel group expands.

Expansion starts with six hotels

On October 5, 2026, Kaohoon International reported that Central Plaza Hotel holds a 51 percent stake in a joint venture with PTT Oil and Retail Business for budget hotels. The first phase covers six prototype hotels, with operations expected to launch gradually during 2027-2028 and a target of 50 locations by 2031.

The project uses sites inside and outside service stations, with room rates stated at THB 800 to THB 1,300 per night. That gives the plan a defined entry price and a measurable rollout rather than an unquantified expansion promise.

What does the Q2 result mean?

Central Plaza Hotel reported second-quarter revenue of THB 5.78 billion and net income of THB 166.44 million, compared with THB 6.72 billion revenue and THB 2.14 billion net income in the first quarter, according to Investing.com. The same source lists revenue of THB 5.78 billion against a THB 5.62 billion forecast and earnings per share of THB 0.12 against THB 0.06 expected for the latest release dated August 10, 2026.

The chronology is clear: on September 29, 2026, Kaohoon International reported KGI Securities' THB 49.00 target for 2027 and a 30 percent fourth-quarter Maldives RevPAR growth forecast; on August 10, 2026, second-quarter net income was THB 166.44 million; on October 5, 2026, the six-hotel pilot and 50-location goal were reported.

Dates that shape the rollout

The next operating milestones are the gradual launch during 2027-2028 and the stated expansion target of 50 locations by 2031, both reported by Kaohoon International. The latest reviewed consolidated financial statements cover the second quarter ended June 30, 2026, according to Thailand's securities regulator.

SET quote and valuation context

Central Plaza Hotel's last available home-market quote was THB 43.00 on October 19, 2026 at 4:36 p.m. ICT on the SET. The market capitalization was THB 58.1 billion, while the 52-week range was THB 29.25 to THB 45.50 as of the same quote date. The company is classified in the consumer discretionary sector and trades under ticker CENTEL.BK on the SET.