S Hotels & Resorts Posts Strong Record-Breaking Normalised Net ProfitAbove THB 600 million

Announces Highest-Ever Dividend and Strategic Portfolio Restructuring to Propel Sustainable Profit Growth

Bangkok, Thailand –S Hotels and Resorts Public Company Limited (SET: SHR), a leading international hotel and resort management company under Singha Estate Public Company Limited (SET: S) reported total revenue from its hotel business and services of THB 10,299 million in 2025, driven by the robust performance of its Thailand portfolio, posting revenue growth of more than 21% YoY. Key supporting factors included the ability to raise the average daily rate (ADR) as well as attract high-potential and high-spending guests. This, coupled with, operational efficiency enhancement, and continuous finance cost reduction, enable the company to achieve a record-high normalised net profit at THB 615 million. 

Reflecting the strong performance, the Board of Directors resolved to propose to the 2025 Annual General Meeting of Shareholders the approval of total dividend payment of THB 0.070 per share, the highest level ever declared by the Company, underscoring its commitment to delivering strong and consistent returns to shareholders. In addition, the Company has made significant progress in restructuring its investment portfolio and executing asset rotation strategy through the disposal of 15 hotels in the United Kingdom, which are not located in primary markets with international visibility and exposure. Although the transaction resulted in the recognition of a one-time asset impairment loss (a non-recurring expense), it marks a key milestone in enhancing the Company’s long-term earnings potential and strengthening future returns.

Mr. Michael Marshall, CEO of S Hotels & Resorts, stated that “The Company’s performance in 2025 marks another year of success, reflecting the strength of the core business, financial discipline, and ability to execute strategy amid a challenging economic situation. This year also represents a major turning point of corporate’s strategy as it shifts toward prioritising ‘asset quality’ measured by portfolio profitability and returns over ‘asset quantity’, such as the number of hotels or rooms owned or managed. The divestment of 15 hotels in the United Kingdom aims to enhance the overall efficiency and earnings potential of the portfolio. Net proceeds from the disposal will be used to repay high-interest loans and reinvest in high-potential assets going forward. 

Following the divestment, the company will prioritise regions where we have strong expertise and solid performance, while pursuing a selective investment strategy focused on opportunities that create long-term value and sustainable returns. Our objective is to enhance earnings growth and deliver improved returns to shareholders in the years ahead.”

In 2026, the company has allocated total investment CAPEX of THB 3,000 – 3,500 million, focusing primarily on brownfield investment with strong potential to generate profits or deliver future value uplift,as these assets can typically generate returns within a shorter timeframe compared with other types of investments.

“Looking ahead to 2026, we expect strong performance momentum to continue, driven by Thailand and the Maldives. During January 2026, RevPAR on Thailand portfolio remained strong representing 8% growth YoY, positive momentum continues driven by SAii Laguna Phuket, showed RevPAR growth during January at 17% YoY with ADR reached a new record high at THB 18,574. Meanwhile, RevPAR in the Maldives also increased in January by 19% YoY, driven by a significant increase in ADR of SAii Lagoon Maldives up to 27% YoY to USD 512 (approximately THB 16,016).

Another key factor expected to enhance margin expansion is the outcome of the UK portfolio restructuring. Previously, the divested assets had consistently underperformed, representing a significant drag on overall portfolio profitability. Therefore, after the disposal of all non-core assets out, the Company expects to significantly enhance earnings quality and improve the overall portfolio efficiency of portfolio going forward. Recurring EBITDA margin is anticipated to increase from 25–26% to approximately 27–30%.” concluded Mr. Marshall.

About S Hotels and ResortsPublic 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@aphinop-rWebsite: www.shotelsresorts.com