Compare CENTEL-ERW form 2 hotel shares in “Krungsri Patanasin” view

#ThanHoon-Krungsri Phatthanasin Securities recommends 2 guest stocks, company stocks. Central Plaza Hotel Public Company Limited or CENTEL and shares of The Erawan Group Public Company Limited or ERW. and investment advice, including an estimate of target price

Krungsri Research Department recommends a speculative buy in CENTEL shares, giving a target price of 60 baht, noting that the number of occupancy in January-February 2023 came out better than expected, mainly from the hotel business in the hotel The strong recovery in the province. Thais led in the Occ Rate. and ADR to overall RevPAR being higher than the research team’s expectation and alongside normalized earnings in 1Q23 and full year 2023. Expected quarterly normalized earnings. At the beginning, about 650 million baht, better than the research team’s expectation +12% at about 580 million baht of hotels in the provinces improving faster than expected. Combined with the electricity price since May 2023, which has fallen by around -11%, making normal profit forecasts for 2023. from the research department at 1.8 billion baht (+499% yy), there is a chance of a surface down about 10%

Recommended strategy to buy speculation. In response to the profit trend in the first quarter of 2023, yy, qq are the most prominent in the group, of hotels in the Maldives in the peak season and Thai hotels in the provinces recover a lot, while the normal profit is 2023 recovered. well at 1.8 billion baht (+499% yy) and expects quarterly yy growth CENTEL’s earnings are expected to return to pre-COVID-19 levels this year.

As for ERW stocks, we recommend a speculative buy like Han. Put a target price of 5.20 baht. Overall, statistics are in line with the research team’s expectation for RevPAR for the entire portfolio, average growth +189% yy +2% qq, divided into hotel groups , except Hop Inn (+348% yy +2% qq) Hop Inn Thailand (+27% yy +4% qq) and Philippines (+66% yy, -1% qq) looking in March. 2023 will benefit from the We Travel Together project. and foreign tourists which tend to continue to increase Maintain the earnings forecast for 2023, turning to a profit from a loss in 2022, driven by tourism in Thailand which tends to continue to recover from Increasing foreign tourists This is because the price of electricity since May 2023 has decreased by about -11%, which means that the research department’s 2023 normal profit forecast of 450 million baht has a side chance of about 7%.

Recommend a speculative buy In response to the 2023 earnings forecast, reports are profitable and recovering yy every quarter, with estimates that it could be side by side. More if tourists Foreigners increased more than expected, especially from tourists. The rise of China after the opening of the country

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