SHR Reports THB 171 Million First-Half Profit, Announces Interim Dividend and Eyes Stronger H2 Growth

Travel recovery and asset enhancements support stronger H2 performance and long-term growth.

Bangkok, Thailand – S Hotels & Resorts Public Company Limited (SHR) a leading international hospitality company under Singha Estate Public Company Limited (SET: S), reaffirmed its confidence in the business recovery outlook.

The Company reported revenue from services of THB 2,266 million in the second quarter of 2026 and THB 4,900 million for the first six months of the year, despite challenges arising from geopolitical tensions and seasonal factors. SHR indicated that its operating performance had passed the most challenging period of the year, supported by easing geopolitical tensions, recovering demand across key source markets, the gradual return of long-haul travellers and the onset of the tourism season in the second half of the year.

Meanwhile, the Company continues to effectively manage its costs and capital structure while enhancing the potential of its assets through hotel renovations and upgrades, the rebranding of selected properties in high-potential locations, and the development of new products and services. These initiatives are aimed at improving revenue quality and strengthening the Company’s ability to generate sustainable long-term returns. SHR reported a net profit of THB 171 million for the first half of 2026 and declared an interim dividend of THB 0.015 per share, reflecting its confidence in the Company’s financial position and operating recovery in the second half of the year. The shares will trade ex-dividend (XD) on 26 August 2026, with the record date set for 27 August 2026 and the dividend payment scheduled for 10 September 2026.

Mr. Michael Marshall, CEO of S Hotels & Resorts, said: “Although our second-quarter performance was affected by geopolitical tensions, particularly the impact on travel from the Middle East, demand from other key source markets remained resilient. Our hotels in Fiji delivered an outstanding performance as the destination entered its high season, with revenue growing by more than 9% year-on-year. RevPAR also reached a record high for the second quarter, while occupancy approached 90%. Meanwhile, SAii Laguna Phuket and SAii Koh Samui Villas continued to receive strong market response, reflecting the success of our strategy under the SAii brand, with RevPAR increasing by 22% and 14%, respectively.”

The Company continues to pursue its market diversification strategy by expanding its customer base across high-potential markets, increasing the contribution from high-value travelers and making bookings through direct channels. These initiatives are being implemented alongside ongoing cost optimisation measures and effective capital structure management to strengthen long-term profitability.

Clear Second-Half Recovery Supported by Long-Haul Travel, Improving Forward Bookings and High Season

The Company expects to see a meaningful recovery in its performance during the second half of the year as geopolitical tensions begin to ease, restoring confidence among long-haul travelers and enabling a gradual return to normal travel patterns. At the same time, hotel portfolios previously affected by the conflict have begun to show positive signs, with forward bookings trending upward. 

In the third quarter, the Company expects to continue benefiting from the strong performance of its hotels in Fiji and the start of the tourism season for its UK portfolio. The rebranding of selected hotels under The Unlimited Collection has also begun to support improvements in average daily rate (ADR) and is expected to enhance revenue quality over the long term. This will be followed by the high season in Thailand and the Maldives in the fourth quarter, which is expected to be a key growth driver for the remainder of the year. These positive factors, together with ongoing initiatives to improve operational efficiency and disciplined management of operating expenses and finance costs, are expected to support revenue growth and margin expansion going forward.

In addition, the Company launched SunRay Social & Swim Club, a new day-club concept at SAii Koh Samui Villas, on 1 August 2026. The concept is designed to enhance the guest experience and create additional revenue opportunities through food and beverage operations and other non-room revenue streams by offering lifestyle experiences and activities tailored to a new generation of travellers. It is expected to encourage greater use of resort facilities, increase guest spending and attract more external visitors, while further strengthening SAii’s positioning as a premium lifestyle resort brand. The Company plans to introduce the concept at SAii Laguna Phuket and SAii Lagoon Maldives by the fourth quarter of 2026, supporting revenue growth and enhancing the portfolio’s long-term earnings potential. 

“We believe that the Company has passed the most challenging period of the year, with several key headwinds beginning to ease. Long-haul travel is gradually returning, forward bookings at hotels previously affected by the conflict are improving, and oil prices have begun to decline. With Fiji and the UK entering their high season in the third quarter, followed by Thailand and the Maldives in the fourth quarter, we are confident that our operating performance will recover meaningfully in the second half of the year. We remain committed to delivering quality growth by enhancing the potential of our assets, developing new revenue streams and improving operational efficiency, with the aim of generating sustainable long-term returns for our shareholders,” Mr. Marshall concluded.

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About S Hotels and Resorts Public Company Limited (SET:SHR)

S Hotels and Resorts Public Company Limited, the hospitality arm of Singha Estate Public Company Limited, and a fast-growing international hospitality company with a portfolio of world-class hotels and resorts in Thailand and overseas. The Company specializes in the management of and investment in high-quality hotels and resorts across leading global tourism destinations through its homegrown SAii brand and partnerships with internationally renowned hospitality brands that possess strong distribution networks in their respective markets. SHR currently owns a portfolio of 33 hotels comprising 4,035 rooms, strategically located in key tourism destinations that attract travelers from around the world. Guided by Singha Estate’s commitment to a balanced and diversified investment portfolio, with sustainable growth at the heart of its operations, six of the Company’s hotels in Thailand and the Maldives, together with The Marina at CROSSROADS, have achieved Green Globe certification. This recognition reflects the Company’s commitment to responsible hospitality and reinforces confidence among investors and guests. To learn more, please visit www.shotelsresorts.com or follow us on Facebook, Instagram, Youtube, or LinkedIn.