S Hotels & Resorts (SHR) reported a record normalised net profit of more than 615 million baht (US$19.2 million) in 2025 and outlined its strategy for further growth in 2026 as it focuses on improving the quality of its hotel portfolio.
The company plans to invest in higher-performing assets, carry out hotel upgrades and strengthen brand positioning while expanding selected developments. SHR expects portfolio revenue per available room (RevPAR) to grow by 20 to 25 per cent, with EBITDA margins approaching 30 per cent and the average cost of debt reduced by more than 0.50 per cent.
SHR CEO Michael David Marshall said the company recorded RevPAR growth across all regions in 2025, supported by higher average daily rates and demand from higher-spending travellers. Combined with improved operating efficiency and lower finance costs, this resulted in a record normalised net profit of 615 million baht.
The company also declared a dividend of 0.07 baht per share for 2025, its highest payment since listing.
SHR’s strategy for 2026 focuses on three areas: asset rotation, asset enhancement and brand development.
Under its asset rotation strategy, the company completed the sale of 15 hotels in the UK during 1Q2026. The properties were mainly located outside major markets and relied on domestic demand. Proceeds will be used to repay bank loans and support investment in higher-yield assets.
The company has also allocated about 3,000 to 3,500 million baht for investment in Thailand, focusing on upper upscale hotels and cluster management to improve operating efficiency.
Portfolio upgrades include the rebranding of four hotels in the UK in partnership with Ascott under the lifestyle brands, The Unlimited Collection and lyf. Two lyf properties are expected to open in mid-2026.
SHR also plans upgrades at two SAii Hotels & Resorts properties. SAii Phi Phi Island Village will renovate 12 hillside pool villas, while SAii Maldives Lagoon Maldives, Curio Collection by Hilton will add private pools to 20 overwater villas and develop 18 new villas.
The company is also expanding sustainability initiatives, including solar installations across properties in Thailand and the Maldives and biodiversity protection programmes at the Crossroads Maldives project.
