Central Plaza Hotel stock (TH0328010002): earnings rebound and tourism recovery in focus

Central Plaza Hotel has reported higher profit and revenue on the back of Thailand’s tourism recovery, drawing fresh attention from investors who follow Asian hospitality names.

Central Plaza Hotel, a major Thai operator of hotels and restaurants known under the Centel brand, recently reported higher profit and revenue as international tourism into Thailand continued to recover, according to a first?quarter 2025 earnings release published on 05/13/2025 on the company’s investor relations site Central Plaza Hotel IR as of 05/13/2025. The company highlighted stronger room rates and improved occupancy, along with resilience in its food business, as key drivers behind the improvement.

As of: 05/21/2026

By the editorial team – specialized in equity coverage.

At a glance

• Name: Central Plaza Hotel
• Sector/industry: Hospitality, hotels and restaurants
• Headquarters/country: Bangkok, Thailand
• Core markets: Thailand and selected international tourist destinations
• Key revenue drivers: Hotel operations, food and restaurant business, tourism demand
• Home exchange/listing venue: Stock Exchange of Thailand (ticker CENTEL)
• Trading currency: Thai baht (THB)

Central Plaza Hotel: core business model

Central Plaza Hotel operates a portfolio of hotels and resorts under the Centara and related brands, targeting both leisure travelers and business guests. The group also manages a large restaurant and food service network, including quick?service outlets and catering at shopping centers and travel hubs. This combination gives the company exposure to room revenue, food and beverage sales, and ancillary services.

The business model is strongly tied to travel flows into Thailand, one of Asia’s most popular tourist destinations. Central Plaza Hotel earns income from owned and leased properties, as well as from management and franchise contracts where it operates hotels on behalf of property owners for a fee. This asset?light component can support returns by generating fee revenue without requiring the same level of capital outlay as wholly owned hotels.

In recent years, the company has placed increased emphasis on upgrading properties, digital distribution and loyalty programs to capture more direct bookings. These initiatives are designed to lower customer acquisition costs compared with relying purely on online travel agencies, while building repeat business from both domestic and international guests. For US investors looking at Asian hospitality, Central Plaza Hotel offers a focused play on Thailand’s tourism and consumer spending cycles.

Main revenue and product drivers for Central Plaza Hotel

Central Plaza Hotel’s revenue is primarily driven by hotel room sales, which depend on occupancy rates and average daily rate (ADR). As international arrivals to Thailand have recovered from pandemic lows, the company has reported year?on?year growth in both metrics, according to its 2024 annual report released on 03/12/2025 Central Plaza Hotel annual report as of 03/12/2025. Higher ADR, in particular, has supported revenue growth in key tourist locations such as Bangkok and major resort provinces.

The food business is the second major revenue pillar. Central Plaza Hotel operates restaurant brands in shopping malls, office complexes and transit locations across Thailand. These outlets generate sales from dine?in, takeaway and delivery orders, giving the company exposure to everyday consumer spending and not only to holiday periods. This segment can provide some diversification when hotel demand softens, although it remains sensitive to overall economic conditions and foot traffic.

Beyond hotels and restaurants, the group earns income from conference and event services, spa operations and other ancillary offerings. These activities add to per?guest spending and make use of the company’s existing property footprint. For example, meeting and event facilities in city hotels can attract corporate clients and domestic events, complementing international tourist demand. Together, these drivers create a diversified hospitality revenue mix that is closely linked to Thailand’s broader tourism sector.

Conclusion

Central Plaza Hotel has emerged as a direct beneficiary of Thailand’s tourism recovery, with recent earnings showing higher revenue and profit supported by stronger hotel performance and steady food sales. At the same time, the business remains exposed to shifts in visitor numbers, competition in the hospitality market and broader economic trends. For US investors tracking Asian tourism and consumer themes, the stock offers targeted exposure to Thailand’s hotel and restaurant sector without providing any guarantees on future returns.

Disclaimer: This article does not constitute investment advice. Stocks are volatile financial instruments.