Hotel and Residential Businesses Drive Revenue Growth of 37.3%, EBITDA Reaches THB 860 Million, Net Profit at THB 249 Million
Dusit Thani Public Company Limited (DUSIT) has announced its operating results for the first quarter of 2026 (January–March), reporting total revenue of THB 3.27 billion, representing a 37.3% year-on-year (YoY) increase. Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached THB 860 million, while net profit rose to THB 249 million, marking a significant increase of 418.8%.
The company attributed the strong performance primarily to growth in hotel business revenue and revenue recognition from residential unit transfers within the Dusit Central Park project.
Chanin Donavanik, Group Chief Executive Officer of Dusit Thani Public Company Limited, stated that the Group’s first-quarter performance in 2026 continued to demonstrate growth despite pressure from ongoing global geopolitical conflicts. Key supporting factors included increased revenue from the hotel business and the transfer of residential units at the Dusit Central Park development. The substantial increase in revenue, together with efficient fixed-cost management, contributed to expanded operating margins. As a result, EBITDA — which reflects the company’s core operational profitability — increased significantly.
“Although the number of international tourist arrivals to Thailand declined during the first quarter of this year, revenue from Dusit Thani Group’s hotel business continued to grow. This reflects the Group’s ability to effectively manage its portfolio and diversify its customer base. Revenue per available room (RevPAR) for owned hotels increased by 17% year-on-year, driven by higher occupancy rates and increased average daily room rates, particularly at Dusit Thani Bangkok.
Meanwhile, revenue from the hotel management business also continued to grow compared to the previous year, despite the impact of regional conflicts in the Middle East toward the end of the first quarter, which affected hotel management revenue in that region. Going forward, the company will continue to closely monitor the situation and adjust its operational strategies accordingly to mitigate potential impacts by placing greater emphasis on regional and domestic travelers. The Group will also continue implementing effective cost and expense management measures to maintain profitability amid challenging market conditions,” said the Group Chief Executive Officer of Dusit Thani Public Company Limited.
For 2026, Dusit Thani Group maintains its projected total revenue growth target of 5–8% (excluding revenue from residential transfers at the Dusit Central Park project) and expects EBITDA margin to remain in the range of approximately 18–20% of total revenue.
The company noted that global geopolitical conditions remain a key challenge. However, if the situation improves, it is expected that global travel and tourism demand will recover, which would positively benefit Dusit Thani Group’s business performance in the future.
