From Osaka to the Maldives: Centara Hotels & Resorts celebrates global growth and prestigious awards in its 40th year

Sunday, March 17, 2024

2024 heralds a significant phase for Centara Hotels & Resorts, Thailand’s premier hospitality group, as it embarks on a bold development agenda. This includes unveiling new flagship properties, rejuvenating existing brands, and introducing innovative guest experiences. These initiatives align with its aspiration to be recognized as “The Place to Be” for global travelers and to rank among the world’s top 100 hotel operators by 2027.

Centara’s growth trajectory was cemented in 2023, marking its 40th anniversary, with notable achievements such as the launch of the Centara Grand Hotel Osaka, marking its first foray into Japan, and winning prestigious awards including Kincentric’s “Best Employers Thailand Award” and the “Strongest Brand in Thailand” for Centara Grand. The year witnessed a remarkable 52% revenue increase to THB 9,932 million and an 83% jump in EBITDA to THB 3,284 million. Additionally, a 19% increase in Revenue per available room (RevPAR) to THB 4,141 was driven by higher occupancy and room rates. The projection for 2024 indicates a RevPAR increase to THB 4,300, with occupancy rates expected to reach 70-73%.

In 2024, Centara is set to further its expansion with the launch of six new properties: three in Thailand, two in Laos, and one in the Maldives, enhancing its portfolio significantly.

The Centara Mirage Lagoon Maldives, opening in November 2024, represents the inaugural phase of The Atollia by Centara Hotels & Resorts, a new multi-island venture in the North Malé Atoll. As the fourth family-oriented, themed Mirage resort worldwide, this resort will offer a plethora of activities centered around a water park. It will be followed by the opening of the Centara Grand Lagoon Maldives in Q1 2025, offering a more upscale resort experience.

2024 will also see significant renovations of two of Centara’s flagship hotels in Phuket and Pattaya. Additionally, the rebranding of Centara Life and the revitalization of the Centara Boutique Collection underscore the group’s dedication to enhancing its diverse brand portfolio, which includes new Centara Reserve and Centara Mirage projects in key locations like Thailand, the Maldives, Japan, and Indonesia, with China also being a major focus for expansion.

Centara’s strategic endeavors are deeply rooted in its commitment to Thai-inspired, family-centric hospitality. The CentaraThe1 membership program is key to delivering enhanced benefits and rewards, while significant digital advancements aim to enrich the guest experience through innovative booking options and services.

Sustainability remains a cornerstone of Centara’s approach, with the group striving towards significant environmental milestones, including a 20% reduction in greenhouse gas emissions by 2029 and achieving net zero emissions by 2050. The group’s commitment to sustainability was evidenced by the certification of 24 hotels and resorts by the Global Sustainable Tourism Council (GSTC) and one hotel by Green Key in 2023 and 2024, demonstrating its dedication to responsible and sustainable development across its operations.

Michael Henssler, Centara’s Chief Operating Officer said: “2023 was a pivotal year for Centara as we celebrated our 40th anniversary, moved into new markets and achieved an upsurge in performance. We will build upon these foundations in 2024, introducing our diverse brands to key cities and resorts across the Asia Pacific and the Indian Ocean, while also strengthening our position as Thailand’s leading hotel group with new properties in secondary and tertiary destinations.”

Thirayuth Chirathivat, Centara’s Chief Executive Officer, commented: “We are delighted with the progress we are making towards our long-term goals. Having set ourselves the target of becoming a top 100 global hotel group by 2027, we jumped from 150th to 111th in the rankings last year, which shows that we are well ahead of schedule. We look forward to revealing even more exciting projects to our esteemed partners and cherished guests in the coming months, as we continue to strengthen our position in the global hospitality sector.” 

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