S Hotels & Resorts Announces Solid Performance for The First Half of 2023, Is on Track to Achieve End of Year Revenue Targets

S Hotels and Resorts PCL (SET: SHR), the global hospitality company from Singha Estate PCL (SET: S), announced accelerating total revenue from services of THB 4,821 million (+28% YoY), and jumping adjusted EBITDA of THB 1,112 million (+74% YoY) for the first half of 2023. The performance was derived from 69% occupancy rate of the overall portfolio in the first six months of 2023, compared with 54% occupancy rate recorded during the same period in the previous year, and an increase of 11% in average daily rate (ADR) from the first half of 2022.

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