BANGKOK, 11 March 2026: S Hotels and Resorts Public Company Limited, a publicly listed hotel and resort investment and management company (SET: SHR), reports a record-high normalised net profit of over THB615 million for 2025 and unveils its 2026 business direction.
The company aims to enhance the quality of its hotel portfolio through strategic investments in high-potential assets, while advancing new hotel developments, brand repositioning, and elevated guest experiences in line with global travel trends.
SHR targets portfolio RevPAR growth of 20 to 25%, an EBITDA margin advancing towards 30%, and a reduction in its average cost of debt by more than 0.50%, while strengthening its net profit base for sustained long-term growth.
S Hotels and Resorts PCL Chief Executive Officer Michael David Marshall reported that in 2025, the company achieved RevPAR growth across all regions, driven by higher average daily rates and continued success in attracting high-spending guests.
Combined with improved operational efficiency and a significant reduction in finance costs, normalised net profit reached a record high of THB615 million. This performance reflects the strength of the company’s geographically diversified portfolio and its ability to manage revenue effectively amid varying tourism dynamics across markets. The company also declared a dividend of THB0.07 per share for 2025, representing the highest dividend payment since listing and equivalent to a dividend yield of approximately 4%, based on the average market price of the company’s shares in 2025, above the industry average.
In 2026, the company will build upon this momentum through its ‘Scaling to New Heights, Unlocking Greater Value’ plan, accelerating growth and unlocking long-term value creation through three core strategies.
The first strategy, Asset Rotation, focuses on proactive portfolio management, emphasising asset quality over quantity to create sustainable long-term value.
During Q1 2026, the company completed the divestment of 15 hotels in the UK located outside primary markets and largely reliant on domestic demand. Proceeds from the transaction will be used to repay high-interest bank loans and optimise capital allocation toward higher-yield assets.
In parallel, SHR has allocated an investment budget of approximately THB3,000 to THB3,500 million to expand in Thailand by selectively investing in upper-upscale hotels and adopting cluster management to enhance operational efficiency and support long-term growth.
The second strategy, Asset Enhancement, aims to transform the portfolio into a premium lifestyle-driven hotel portfolio. In collaboration with The Ascott Limited, a leading global hospitality operator, the Company is rebranding and upgrading four hotels in the United Kingdom under lifestyle-oriented brands, including The Unlimited Collection and lyf, alongside room upgrades and enhanced facilities to strengthen competitiveness and long-term asset value. Hotels under the Unlimited Collection brand are now fully operational. At the same time, two lyf properties are expected to be completed and launched in mid 2026, supporting an ADR increase of approximately 20 to 30% compared with 2024.
In addition, SHR plans to upgrade room products at two SAii Hotels and Resorts properties. SAii Phi Phi Island Village will renovate all 12 hillside pool villas. At the same time, SAii Maldives Lagoon Maldives, Curio Collection by Hilton will add private pools to 20 existing overwater villas and develop 18 new overwater villas to meet demand from upper-tier guests, enhance pricing power, and support long-term ADR growth.
The third strategy, Experience-Led Brand Growth, highlights SAii Hotels and Resorts as an upper-upscale lifestyle brand. The company will further develop its brand pillars and signature experiences, spanning wellness, sustainability, and mindful culinary offerings, to strengthen differentiation and long-term brand equity. Together with Ascott-affiliated brands including The Unlimited Collection and lyf, SHR will elevate guest experiences through thoughtful design, local cultural integration, and curated activities aligned with global experiential travel trends.
Driven by these strategies, SHR targets portfolio RevPAR growth of 20 to 25% from 2025 levels and expects to improve its EBITDA margin towards 30% through disciplined cost management and operational excellence, while reducing its average cost of debt by more than 0.50%.
“SHR is entering a new phase of growth with strong strategies and a clear direction. The company is committed to enhancing portfolio quality, investing in high-potential assets, and accelerating profitability to achieve a sustainably higher level of performance,” Marshall concluded.
About S Hotels and Resorts PCL
S Hotels and Resorts Public Company Limited (SHR) is a subsidiary of Singha Estate Public Company Limited. The company engages in international hotel investment and management. Its portfolio spans five countries — Thailand, the Maldives, Fiji, Mauritius, and the UK.
(Source: SHR)
