Centara sets on becoming Top 100 global hotel operator by 2027

2024 is set to be a momentous year for Centara Hotels & Resorts, Thailand’s leading hotel operator. The company is rolling out an ambitious plan to open new properties, refresh its brands, and introduce exciting experiences for guests, aiming to become a top destination for travellers and one of the world’s leading hotel operators by 2027.

Centara laid solid foundations for its growth in 2023, its 40th anniversary year, with a series of successes including the debut of Centara Grand Hotel Osaka, its inaugural location in Japan, and a string of prestigious accolades such as Kincentric’s “Best Employers Thailand Award” and the “Strongest Brand in Thailand” title for Centara Grand.

Last year, Centara achieved total revenues of THB 9,932 million, 52% higher than in 2023, while EBITDA surged 83% to THB 3,284 million. Revenue per available room (RevPAR) increased 19% year-on-year to THB 4,141, as a result of rising occupancy and room rates. Looking ahead to 2024, RevPAR is forecast to reach up to THB 4,300, as occupancy rates climb to 70-73%.

Expanding the Centara portfolio: New properties and renovations

Centara will build upon this strong platform with more major projects in 2024. Six new properties are on track to open this year: three in Thailand (the 61-key Centara Life Lamai Resort Samui, 40-key Centara Villas Phi Phi Island, and 110-key Centara Life Surat Thani), two in Laos (100-key COSI Vientiane Nam Phu, and 162-key Centara Plumeria Resort Pakse), and one in the Maldives (145-key Centara Mirage Lagoon Maldives).

Set to open in November 2024, Centara Mirage Lagoon Maldives will mark the first phase of The Atollia by Centara Hotels & Resorts, a brand-new multi-island destination in the idyllic North Malé Atoll, just 30 minutes’ by speedboat from Malé’s Velana International Airport. The world’s fourth family-focused and themed Mirage resort from Centara (following popular resorts in Pattaya, Mui Ne and Dubai), this activity-packed, underwater-themed resort will feature a full range of facilities centred around a water park. Then in Q1 2025, it will be complemented by the 142-key Centara Grand Lagoon Maldives, a sophisticated upper-upscale resort, enabling travellers to experience two distinct vacation styles.

Two of Centara’s flagship hotels – the 335-key Centara Karon Resort Phuket and the 553-key Centara Grand Mirage Beach Resort Pattaya – are set to emerge from comprehensive renovations in 2024. Following the unveiling of Centara Life (formerly known as Centra by Centara) late last year, the group is now in the process of revitalising its Centara Boutique Collection. The company is also seeking opportunities for the expansion of its six diverse brands, including the new Centara Reserve and Centara Mirage projects in Thailand, the Maldives, Japan, and Indonesia. China is another key focus market, with five potential signings in the pipeline.

Every aspect of Centara’s strategy will be underpinned by its core values of Thai-inspired, family-centric hospitality. CentaraThe1, the popular membership programme, will be leveraged to drive greater benefits, rewards and redemption opportunities, and important digital investments will include an application with loyalty at the heart to increase booking options including a chatbot and other innovations to improve the guest’s experience.

Michael Henssler, Centara’s Chief Operating Officer said…

“In bringing Thai hospitality to foreign shores, we export the essence of Thailand through our food and spa services, ensuring an authentic guest journey. Our approach harnesses the soft power of Thai culture, sparking interest and appreciation for Thai hospitality’s genuine warmth and authenticity. ”

Sustainability and innovation at the core

All corners of Centara’s development are established responsibly and sustainably. The group is working towards several important environmental targets, including a 20% reduction in greenhouse gas emissions by 2029, and overall net zero emissions by 2050. Further progress was made in 2023 and 2024, as 24 hotels and resorts were certified by Global Sustainable Tourism Council – GSTC, the world-leading organisation dedicated to sustainability and social responsibility and 1 hotel was certified by Green Key.

Michael Henssler added…

“As one of the industry’s leading movers for sustainability, there are no cutting corners when it comes to sustainability. We don’t just preach sustainability; we weave it into the very fabric of our operations, ensuring that every small element aligns with our green philosophy.”

To learn more about Centara Hotels & Resorts, visit their official website.

Press Release