Resort Destinations Outpace Bangkok in Hotel Revenue Growth for 2026
Asset World Corporation’s hotel business saw a 12% revenue rise in Q1 2026, driven by strong growth in resort destinations like Chiang Mai and Koh Samui, while Bangkok hotels faced slight declines.
Key Points
- 1AWC's hotel revenue increased 12% in Q1 2026, with net profit reaching a record 1.99 billion baht.
- 2Resort destinations outside Bangkok, especially Chiang Mai, showed strong growth in occupancy and revenue.
- 3Luxury resorts achieved 85% occupancy and a record RevPAR of 22,609 baht, up 5% from last year.
- 4AWC operates 24 hotels across Thailand and plans to grow to 35 hotels by 2030.
Asset World Corporation (AWC) reported a 9.5% revenue increase in the first quarter of 2026, reaching 6.78 billion baht. Hotel business revenue grew by 12%, with EBITDA rising 9%, while net profit hit a record 1.99 billion baht, up slightly by 0.9%. This growth is largely driven by resort locations outperforming Bangkok.
Hotel occupancy across AWC's portfolio improved from 75% to 78%, although average daily rates dipped 5% to 6,318 baht. Overall revenue per available room (RevPAR) decreased by 1%, but when excluding new hotels, RevPAR rose 3%. Luxury resorts showed strong performance with 85% occupancy and a record RevPAR of 22,609 baht, 5% higher than last year.
Chiang Mai led the growth among destinations, with RevPAR up 26%, revenue up 25%, and EBITDA soaring 45%. Revenue from Chinese visitors increased by 80%, highlighting the region's appeal. Non-Bangkok hotels saw revenue growth of 28% and EBITDA growth of 26%, while Bangkok hotels experienced slight declines in revenue and EBITDA.
AWC's portfolio includes 24 hotels with 6,834 rooms across six key locations: Bangkok, Koh Samui, Chiang Mai, Phuket, Pattaya, Krabi, and Hua Hin. The company plans to expand to 35 hotels with 9,312 rooms by 2030, reflecting confidence in Thailand's resort hospitality market.
