S Hotels & Resorts Achieves Record-Breaking Net Profit for First Nine Months of 2025

The company continues to demonstrate strong performance and sustained growth momentum,
marking its highest net profit in six years.

Bangkok, Thailand – S Hotels and Resorts Public Company Limited (SET: SHR), a leading international hotel and resort business and a subsidiary of Singha Estate PCL (SET: S), reported total revenue from hotel business and services for the third quarter of 2025 in total THB 2,578 million, increased 2% from the same period last year. The main drivers were from properties in Thailand and Mauritius that continued delivered steady growth throughout the year. In addition, through efficient cost and expense management, the company achieved a 14% increase in Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) compared to the same period last year, while the EBITDA margin improved to 26%, up from 23% in third quarter of 2024. Lastly, with dedication, capabilities and commitment to well managed properties performance, SHR successfully turned around its performance, delivering a net profit of THB 129 million, more than triple the result achieved in 2024.

For the first nine months of 2025, the company reported total revenue from hotel business and services at THB 7,602 million, representing a slight 2% decline from the same period last year, primarily due to Thai Baht appreciation. However, the company achieved a net profit of THB 328 million, marking a turnaround from a net loss of THB 13 million in the previous year. This strong performance was driven by efficient cost and expense management, as well as the company’s ability to reduce financial costs, which decreased by more than 23% compared to the first nine months of 2024. This reduction in financial costs remains a key proactive strategy for 2025, with a target of lowering the average interest rate by 1%.

Mr. Michael Marshall, Chief Executive Officer, stated that although the number of foreign tourists visiting to Thailand in 2025 declined compared to the previous year, particularly from China, the impact on operational performance remained relatively limited. This is because the majority of revenue from the company’s Thai properties continues to be driven by Russian and European guests. 

During the 3rd quarter of 2025, SHR delivered outstanding growth across all regions, especially from Thailand. Despite the low season, the company reported a 31% increase in average revenue per room (RevPAR) compared to the same period last year. The key driver was SAii Laguna Phuket, highlighting the success of the company’s ongoing asset enhancement strategy, with RevPAR more than doubling compared to the 3rd quarter of 2024. Similarly, for the first nine months of 2025, Thailand-based hotels collectively achieved a 19% increase in RevPAR YoY, while SAii Laguna Phuket recorded a remarkable 58% rise in RevPAR”.

For the fourth quarter, which coincides with the peak tourist season in Thailand and the Maldives, the company expects its performance to remain on track, supported by the continued growth of its hotels in Thailand and positive momentum from strong advance bookings. In addition, The Grand Hotel Leicester by The Unlimited Collection, which has undergone renovations and brand enhancement, is scheduled to officially reopen in Q4 2025. The company anticipates a positive response from travelers, particularly those seeking meaningful journeys and a deeper connection to the unique cultural experiences offered at each destination. 

“Beyond numerical growth, the company has consistently prioritised operating its business in accordance with ESG principles, taking responsibility towards all stakeholders and maintaining transparency in its information disclosures. In 2025, SHR received a 5-star rating, or "Excellent" CG Scoring in the assessment of corporate governance of Thai-listed companies for the fifth consecutive year from the Institute of Directors (IOD). This recognition reaffirms SHR’s commitment and capability in driving sustainable business growth” concluded Mr Marshall.

About S Hotels and Resorts Public Company Limited

S Hotels and Resorts Public Company Limited, the hospitality arm of Singha Estate Public Company Limited, is a fast-growing, Thai-inspired company with an extensive international portfolio and world-class standards. Specialising in the management and investment of high-quality hotels and resorts in desirable destinations across the globe, S Hotels & Resorts has created a collection of its own distinctive lifestyle brands, whilst also partnering with the hospitality industry’s leading names. The company aims to set new standards for leisure and lifestyle through diversified business platforms and to enhance value for all its stakeholders based upon a philosophy of sustainable development and delivering benefits to local communities. To learn more, please visit www.shotelsresorts.com or follow us on Facebook, Instagram, Youtube, or LinkedIn. 

About Singha Estate:

Singha Estate PLC. (SET: S) is an international real estate developer and investment company. Singha Estate builds
a well-balanced, sustainable business growth by diversifying its portfolio across residential, commercial, hospitality, and industrial estate and infrastructure projects. Through strong partnerships in Thailand and abroad, the company enriches people’s lives and ensures environmentally and socially responsible business operations with a vision of the “Entrusted and Value Enricher” to drive sustainable growth and deliver value to all stakeholders.

For more information, visit https://investor.singhaestate.co.th/en/home.

For more information and high-resolution images, contact:

Lalita Somboonsuk (Ta)

Corporate Marketing Communications Manager
S Hotels & Resorts | Singha Estate PCL
Tel: +66 (0) 2058-9888 ext. 320
E-mail: lalita.s@shotelsresorts.com 
Website: www.shotelsresorts.com