Centara’s Sustainable Growth Strategy for 2023 and Beyond

March 10, 2023

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Centara Hotels & Resorts, Thailand’s leading hotel operator, is celebrating its 40th anniversary this year. Centara has embarked on a mission to become one of the world’s leading hospitality companies by 2027 while maintaining a sustainable growth strategy. In 2022, Centara achieved significant success with revenue increasing by 57% to THB 18,216 million, EBITDA surging by 120% to THB 4,411 million, and net profit reaching THB 398 million.

Centara’s global footprint has increased over the years, with 92 properties (50 operating and 42 in the pipeline) with 19,348 keys in 13 countries as of 31st December 2022. In 2023, Centara will open six new properties in two countries and add five new properties to its Thailand portfolio. Additionally, upgrades and renovations to existing properties will complement the new hotels.

Centara’s international strategy will reach a new level with the opening of the 515-key Centara Grand Osaka on 1st July 2023, marking the company’s debut in Japan. Furthermore, Centara will open new regional offices in Ho Chi Minh City, Shanghai, and Dubai in 2023, and in Osaka in 2024. The expansion is expected to lead to the signing of 10 new hotels in 2023 in Thailand, Vietnam, and Qatar.

Centara Reserve, the luxury brand, made its global debut in Koh Samui in December 2021, and Centara plans to extend the brand to areas close to Hua Hin, Krabi, and the Maldives.

Centara is committed to sustainable and responsible growth. The group aims to eliminate single-use plastic by 2025, achieve Global Sustainable Tourism Council (GSTC) certification for all properties by 2025, reduce energy, waste, water, and greenhouse gas emissions by 20% by 2029, and have overall net-zero emissions by 2050.

Centara will also continue to work with like-minded partners to improve the tourism ecosystem and enhance the guest experience. The guest membership program, CentaraThe1, will reach eight million members this year, coinciding with the program’s 10th anniversary. Members will enjoy several promotional campaigns and program enhancements, with new benefits such as redeeming their points for airline miles across Qatar Airways, Singapore Airlines, and Turkish Airlines.

“2023 will be a watershed year for Centara, as we move into an exciting new era of prosperity and celebrate 40 years of delivering heartfelt Thai hospitality. Despite the global challenges of the last few years, Centara’s goals of sustainable, strategic development have remained on track.” Said Thirayuth Chirathivat, CEO of Centara Hotels & Resorts.

As the hospitality industry rebounds from the pandemic, Centara’s growth strategy, along with its commitment to sustainability, will serve as a model for other companies in the industry. The call to action is for the industry to follow Centara’s lead in adopting sustainable growth strategies that focus on responsible development and the enhancement of guest experiences.