A Thai developer of hotels and shopping malls controlled by the country’s richest man expects the recent surge in international tourists to boost its first quarter earnings this year.
Asset World Corp.’s hotel properties have seen revenue per available room — a key profitability metric — grow to record highs this year, according to Chief Executive Officer Wallapa Traisorat. Average occupancy rates for the company’s hotels, which include several under the Marriott International Inc. and Banyan Tree Holdings Ltd. brand, are over 80% right now. That’s higher than 65% in the fourth quarter, the normal peak period for Thailand tourism.