CENTEL Records a Net Loss of ฿2.7Bn in 2020 as OCC Drops to 27% from Covid-19 Outbreak

Central Plaza Hotel Public Company Limited (CENTEL) has reported its yearly consolidated financial statement of 2020 through the Stock Exchange of Thailand as follows;

CENTEL reported a net loss of 2,775 million baht in 2020, contrasted to the net profit of 1,744 million baht in 2019. The decrease was mainly due to a decline in revenue from 21,191 million baht in 2019 to 13,249 million baht as a result of the coronavirus outbreak.

In 2020, CENTEL recorded total revenue from hotel business at 3,117 million baht, decreased 65% YoY. The occupancy rate (OCC )dropped from 77% to 27%, while the average room rate (ARR) decreased by 7% to 4,149 baht. RevPar dropped by 67% YoY to 1,134 baht.