AWC Q3 Profit Jumps 16% to 1.33 Billion Baht on Hotel Growth
Asset World Corp (AWC) posted a 16% rise in Q3 net profit to 1.33 billion baht on revenue of 5.58 billion baht, fueled by a 25.4% jump in hotel RevPAR and 23% growth in commercial properties. New hotel openings in Bangkok and Pattaya, plus recovering tourist demand in Chiang Mai, Samui, and Krabi, drove the strong hospitality performance across Thailand.
AWC President and CEO Wallapa Traisorat announced the company's Q3/2026 results, showing total revenue of 5.578 billion baht, a 7.4% increase from the same period last year. EBITDA reached 2.695 billion baht, up 7.4%, while net profit climbed 16% to 1.332 billion baht. The growth reflects strength across both core business groups — hotels and hospitality services, and commercial properties — supported by quality global tourists, revenue recognition from new hotels, and expanded commercial asset potential.
Wallapa attributed the strong performance to the company's commitment to working with partners to develop quality real estate under the AWC Lifestyle Destinations concept.
Hotel Business Drives Revenue as RevPAR Rises 25.4% The hotel and hospitality group posted total revenue of 3.312 billion baht, up 16.5%, with EBITDA of 999 million baht, up 22.1%. RevPAR reached 4,014 baht per night, a 25.4% increase, reflecting recovery in quality tourist demand and successful collaboration with global partners to expand the customer base.
Growth spanned all hotel segments, particularly MICE-oriented properties, where RevPAR rose 23.2% from existing operations and the August opening of Fairmont Bangkok Sukhumvit. Bangkok hotels saw RevPAR climb 17.1%, with the capital's portfolio growing 18% on quality tourist demand and increased meetings.
Provincial hotels also performed strongly. Luxury resorts recorded a 20.8% RevPAR increase, while tourist-city hotels jumped 34.9%, led by Pattaya's 94% surge from two new hotels opened last year. Chiang Mai grew 40% on recovering regional tourism, especially from China. Samui, Krabi, and Hua Hin saw RevPAR gains of 24%, 18%, and 3% respectively, underscoring the enduring appeal of prime tourism assets.
Both retail and corporate segments drove higher occupancy, with room nights and average daily rate (ADR) rising 26% and 22%. Group bookings saw ADR increase 7%, reflecting effective revenue management and customer quality improvements.
Food and beverage revenue reached 1,013 million baht, up 9.5%, accounting for 30% of hotel group revenue. Key drivers were Pattaya Marriott Resort & Spa and InterContinental Chiang Mai Mae Ping Hotel, with F&B revenue surging 135% and 38.7%, while A-nya Rooftop at The Empire grew 24.2%.
Commercial Business Grows 23.1%; Asiatique Traffic Up 38% The commercial group posted total revenue of 2.184 billion baht, up 23.1%, with EBITDA of 1.828 billion baht, up 30.5%, driven by asset development...
