Centara Progresses Towards Top 100 Vision
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Bangkok, Thailand – 2024 is set to be a momentous year for Centara Hotels & Resorts, as Thailand’s leading hotel operator embarks on an ambitious development strategy that will see the launch of iconic new properties, reimagined brands and exciting new guest experiences, in line with its goal of becoming “The Place to Be” for the world’s travellers and one of the planet’s top 100 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 percent higher than in 2023, while EBITDA surged 83 percent to THB 3,284 million. Revenue per available room (RevPAR) increased 19 percent 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 percent. 
Now, 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).
All corners of Centara’s development are established in a responsible and sustainable way. The group is working towards several important environmental targets, including a 20 percent 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, 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.”