Travel Industry News at TravelNewsAsia.com since 1997. Interviews, podcasts, videos, pictures and more
Tue, 18 May 2021

Dusit Thani Reports Q1 2021 Results

Dusit Thani has reported a revenue of THB 1.311 billion for Q1 2021, a 3.9% year-on-year increase from THB 1.262 billion, and net profit of THB 74 million, increase from the net loss of THB 82 million reported last year.

While Dusit Thanis core business in Thailand was impacted in 1Q21 by the second wave of COVID19, which began in late December 2020, the companys prudent financial management and strategy for concentric diversification contributed to revenue recognition during this time.

The mixed-use Dusit Central Park project at the major Silom-Rama IV intersection. Click to enlarge.

Achieving profitability in such a volatile, uncertain and complex business environment is a huge challenge for everyone in the hospitality industry, especially where borders remained closed to international travel, said Ms Suphajee Suthumpun, Group CEO. Our favourable Q1 21 results mainly come from our resilient financial structure; the gain on sales of investment in an associated company under Dusit Central Park; and revenue generated by our diversified investments in food and property businesses. Since the COVID19 outbreak began last year, we have continued to hone our financial, business, and organisational models to meet the demands of the situation and ensure we are ready to thrive in the post- pandemic world.

The company has responded to the challenges facing its domestic hotel business by adjusting operations to drive non-room revenue. This has included creating and promoting on-demand housekeeping, pop-up eateries, and food delivery services. Where possible, the company is also driving core hotel revenue by promoting a Work from Anywhere package, offering an alternative to working from home.

Moreover, Dusit Thani has undergone organisational transformation by streamlining processes to become leaner and more agile. The introduction of a cluster model, for example, has enabled greater sharing of organisational resources by allowing employees to perform multiple roles more effectively, saving costs and other expenses in the process.

Our global expansion strategy also contributed to our favourable results in Q1 21, with Dusit Hotels and Resorts in destinations with widespread vaccination programmes in place such as China, the Middle East, the USA, and Maldives performing satisfactorily, said Ms Suthumpun. While these are certainly positive signs, it must be noted that we foresee that our overall Q2 and Q3 performance will be heavily impacted by the third wave of COVID19, which is currently sweeping through Thailand and bringing travel to a halt here.

There is no doubt that a high vaccination rate is crucial to the recovery of the global tourism industry overall, and as we wait for these numbers to rise in Thailand, we will continue to maintain prudent liquidity management and ensure our personnel are ready to conduct business safely and effectively in these challenging times.

See also: The Future Dusit Thani Bangkok and Dusit Central Park.

See latest Travel Industry News, Video Interviews, Podcasts and other news regarding: COVID19, Dusit, Dusit Thani, Thailand.

Headlines: Worldwide Flight Services to Become Wholly Owned Subsidiary of SATS  China Airlines Unveils A321neo Pikachu Jet  Virgin Atlantic to Join SkyTeam in 2023  Royal Thai Navy Orders Hermes 900 Maritime Unmanned Aircraft  British Airways to Launch Wine Flyer in October  Eviation Alice Completes Maiden Flight  Clarins and Groupe GM Relaunch Eau Dynamisante Hotel Line  Boeing Partners Red 6 to Advance Fighter Pilot Training with Augmented Reality  Minor Signs Tivoli Resort in Tenerife  Boeing Delivers 100th 737-800 BCF to AerCap  Middle East Airlines Enhances Operations at BEY with SITA's Cloud-Based Technology  Onyx Hospitality Appoints Sukamal Mondal as Area General Manager  Oana Savu Joins Dophop as Chief Strategy Officer  MotoGP Stars Learn Muay Thai Ahead of Thailand Grand Prix in Buriram (บุรีรัมย์)  Hertz and bp to Develop Network of EV Charging Stations in USA  IATA and Etihad to Trial CO2 Emissions Calculator for Cargo Flights  British and Qatar Airways Add 42 Countries to Shared Network  Cross Signs Riverfront Property in Bangkok, Thailand  Mandarin Oriental Palace Opens in Luzern, Switzerland  Anantara Adds 400-Metre Zipline to Layan Active Zone in Phuket  easyJet to Upgrade Operations with DPO and CDA  Air Canada Welcomes Decision to Lift Mask, Testing and ArriveCan Requirements  Rolls-Royce Delivers 1,000th BR725 Engine to Gulfstream  IHG Refreshes Restaurant and Integrated Wellness Experience of Even Hotels Brand  Hotels: ADR, OR and RevPAR Trending Higher in All Asia Pacific Markets  Xiamen Airlines Orders 40 Airbus A320neo Family Aircraft  New Japanese Airline Signs 10-Year GMA with ATR  Thai Airways Unveils Winter 22/23 Flight Plan  Marriott Unveils Plan to Add 5,000+ Rooms in Middle East by End-2023  DoubleTree by Hilton Phuket Banthai Appoints Christoph Weidemann as GM  Embraer and GMV Sign MOU for A-29 Super Tucano Aircraft  French Navy Takes Delivery of First of Six H160s in SAR Configuration  IHG Signs Second Hotel Indigo in Jeddah, Saudi Arabia  CTG Hotel Appoints James Kim as COO  Ascott to Refresh and Expand Citadines Aparthotel Brand  Martin Becquart Joins Phnom Penh's Raffles Hotel Le Royal as Executive Chef  Sihot Appoints Diogo Llorente as COO and Michael Wernet as Head of Operations  Royal Huisman Unveils Wing 100 Megayacht  WTTC Publishes Report: Nature Positive Travel & Tourism  Airbus Tests New Outsized Cargo Loading System and Jig; Verification Imminent  Dusit Central Park Bangkok to Feature 11,200-sqm Roof Park Sky Garden  ANA Confirmed as Launch Customer for Boeing's Insight Accelerator  Premium Seating on American's Long-Haul Fleet to Grow 45+% by 2026  Embraer Buying Minority Stake in XMobots  Boeing Forecasts Airlines in Middle East to Need 2,980 New Airplanes Through 2041  SITA Launches Innovative Partnership Program  Airbus and Ecocopter to Work Together on UAM Market in Latin America  Bombardier's Challenger 3500 Business Jet Enters into Service  US-Bangla Airlines Signs Distribution Agreement with Sabre  Qatar Airways to Reintroduce A380 on Flights to Perth, Australia  China Airlines to Increase Flights to Philippines and Thailand  Emirates Partners United Airlines  Vakkaru Maldives Resort Appoints Diana Vergara as Resident Marine Biologist  Doha Hosting Global Aviation Industry World Financial Symposium  AirAsia Launches 'Biggest Ever Free Seats Promotion'  CWT Joins Global Sustainable Tourism Council  The Food School Bangkok to Open in October  IHG Signs Holiday Inn's First Urban Beachfront Resort in Indonesia  Singapore Tourism Board Starts Issuing Travel Agent Licences Electronically  Qatar Airways Enhances Premium Travel Experience at London Heathrow T4  Emma Raducanu to Host Tennis Clinic in Maldives  Emirates Appoints APG as GSA for Argentina  Shell Appoints Wael Sawan as CEO  Apollo Funds Commit Up To US$1.5 Billion To Embraer Customer Financing Agreement  Passenger Volume Continues to Rise at Hong Kong Airport  Marriott Opens Adults-Only, All-Inclusive Luxury Resort in Dominican Republic  Minor Rebrands Luxury Hotel in Amsterdam  Emirates Investing Over US$350m on Inflight Entertainment System for A350s  Asia Pacific Airlines Report 528.8% Rise in July Traffic  U.S. Air Force Takes Delivery of Bombardier Global 6000 Aircraft  Brazilian Armed Forces to Acquire 27 Airbus H125 Helicopters  Boeing Completes Construction of Advanced Composite Fabrication Center in Arizona  Marriott Signs First Property in Papua New Guinea  Emirates Offers First Class Passengers Dom Pérignon 2003 Plénitude 2 on Select Flights  Hyatt Opens Second Thompson Hotel in Europe  Aeroflot Signs Agreement of Intent with UAC for 339 Aircraft  Saudia Celebrates Ambitious Neom Project with Aircraft Livery  Accor Partners SHe Travel Club  Air France Introduces New Amenity Kits on Long-Haul Flights  Etihad to Increase Flights to JFK; Expand Partnership with JetBlue  Fiji Crowned Rugby World Cup Sevens 2022 Champions; Australia Women Secure Hat-Trick  AirAsia X Resumes Flights Between Kuala Lumpur and Sydney, Australia  HeliDax Becomes First to Sign Airbus' New HCare Classics Support Contract  United Airlines Signs CPA for 200 4-Seat eVTOL with Options for Further 200  Qatar Airways and Virgin Australia Commence Strategic Partnership  Key Hotel Markets in Europe Surpass 2019 Profitability Levels  Poland Selects Boeing's AH-64 Apache for its Kruk Attack Helicopter Program  Airbus to Provide UHF Milsatcom Services to Czech Republic and Netherlands  IATA Reports Global Air Cargo Statistics for July 2022  40 Teams to Compete in Rugby World Cup Sevens 2022 in Cape Town, South Africa  Pan Pacific Appoints Margaret Paul as VP of Pre-Opening and Operations - Oceania  Airbnb Publishes Report on Dispersal of Tourism  Embraer Forecasts Malaysia to Need 150 New Aircraft Under 150 Seats  Air Canada Donates Lockheed L-10A Electra to Royal Aviation Museum  Airbus Partners Hiratagakuen for eVTOL Flight Tests in Japan  Three Different US Navy Aircraft Control Unmanned MQ-25  Cathay Pacific Partners PolyU on New Cadet Pilot Training Course  Hamad Int. Airport Opens Second Transit Hotel  Duetto Appoints Jeff Nicholson as Chief Marketing Officer  Pan Pacific Appoints Richard Tan as VP Operations for Dhaka, Indo-China, Malaysia and Nairobi  Conrad Centennial Singapore Appoints Pranjal Walawalkar as Commercial Director  Jamaica to Adopt SITA's Digital Travel Declaration Solution  Hahn Air to Plant 150,000 Mangrove Trees in Kenya and Madagascar  Smiths Detection's HI-SCAN 6040 CTiX X-ray Scanner Added to TSA's Mid-Sized QPL  Firefly Resumes Penang - Phuket Flights with Boeing 737 Aircraft  Hilton Opens Hotel in Hiroshima, Japan  American Express Global Business Travel to Upgrade to Travelport+  Marcel Holman Joins Pan Pacific as VP Operations - China, Indonesia and Japan  Su Zie Chew Joins Conrad Centennial Singapore as Director of Operations  Saudia Launches Direct Flights from Jeddah to Tunis and Kuala Lumpur  Aeroflot Publishes Sustainable Development Policy  Smiths Detection to Upgrade Cargo Inspection Systems at Honmoku and Sendai, Japan  Emirates to Expand A380 Services to 42 Destinations by April 2023  Air New Zealand Unveils A321neo with Special Star Alliance Livery  PPHG Appoints Anne Golden as VP Operations - UK and North America  Cebu Pacific to Upgrade Crew Scheduling with iFlight  Hilton Opens 608-Room Hotel on Palm Jumeirah, Dubai  Rolls-Royce and Air China to Establish JV MRO Facility in Beijing, China  Smiths Detection India Signs MOU with Navratna Defence PSU Bharat Electronics  Boeing Orders Advanced Training Aircraft Fuselage Systems from Saab  Thai AirAsia X to Launch Flights Between Bangkok and Tbilisi, Georgia  HMD Asia Signs First Shinta Mani Hotel Outside of Cambodia  Airports, Biometrics and Travel - Interview with Sumesh Patel, SITA President APAC  Pictures from Miss International Queen 2022 in Pattaya, Thailand  HD Video Interviews from Miss International Queen 2022 in Pattaya, Thailand  Is Siam Seaplane Ready for Take Off? Interview with Dennis Keller, Chief Business Officer  HD Videos and Interviews  Podcasts from HD Video Interviews  RSS Feed - Travel Industry News  Ticker - Travel Industry News  Travel Industry News Archives  Travel Trade Shows  High-Res Picture Galleries  Travel News Asia - Latest Travel Industry News 

Subscribe to our Travel Industry News RSS Feed Travel Industry News RSS Feed from TravelNewsAsia.com. To do that in Outlook, right-click the RSS Feeds folder, select Add a New RSS Feed, enter the URL of our RSS Feed which is: https://www.travelnewsasia.com/travelnews.xml and click Add. The feed can also be used to add the headlines to your website or channel via a customisable applet. Have questions? Please read our Travel News FAQ. Thank you.

     
Advertising
Advertising
Copyright © 1997-2022 TravelNewsAsia.com