• Q2/2025 performance continued to deliver strong growth, with total revenue of THB 5,211 million, a 7.7% YoY increase, while EBITDA rose to THB 2,723 million, a 9.3% YoY increase, and net profit of THB 1,404 million, 12.7% growth YoY. This performance was driven by the Company’s Growth-Led Strategy, recognizing revenue from new assets and diversifying the portfolio, supported by a strong financial discipline with an interest-bearing debt-to-equity ratio below the industry average.
• The hospitality business unit generated total revenue of THB 2,612 million, an increase from the previous year, driven by revenue recognition from new assets, growth in the luxury resort segment, and outstanding growth in food and beverage revenue. The launch of Pattaya Marriott Resort and Spa boosted the hotel portfolio, which has more than doubled since the IPO, with total asset value reaching THB 212,616 million as of Q2/2025.
• The commercial business unit continued to generate stable cash flow through strategic enhancements to retail and office properties under the AWC’s Lifestyle Destination model, alongside the opening of Jurassic World: The Experience and Hatch Dome at Asiatique The Riverfront Destination, a world-class attraction designed to drive all-day visitor traffic, boost retail sales, and increase tenant demand, while strengthening Bangkok and Thailand’s positioning as a global hub for sustainable tourism and entertainment.

11 August 2025, Bangkok, Mrs. Wallapa Traisorat, Chief Executive Officer and President of (AWC), has announced the company’s robust growth for Q2/2025, with total revenue of THB 5,211 million, up 7.7% YoY, and EBITDA of THB 2,723 million, up 9.3% YoY. Net profit rose 12.7% YoY to THB 1,404 million. The Company continues to expand its high-quality portfolio to enhance Thailand’s sustainable tourism potential, including Meliá Pattaya Hotel, Thailand, Pattaya Marriott Resort and Spa, and Swissôtel Bangkok Ratchada (to be rebranded as JW Marriott Hotel Bangkok Ratchadapisek). Most recently, AWC unveiled Jurassic World: The Experience and the Hatch Dome, two world-class landmarks at Asiatique The Riverfront Destination, creating a spectacular entertainment phenomenon for visitors of all ages. These attractions support the Company’s strategy to drive all-day visitor traffic, leading to a sharp increase in revenue growth and tenant demand. The Company also reported strong growth in its luxury resort segment, which continues to attract high-quality travelers, particularly in Koh Samui, alongside significant growth in food and beverage revenue. In addition, the commercial business unit continued to deliver stable and strong cash flow, with higher occupancy and rental income supported by enhanced marketing strategies under the distinctive AWC’s Lifestyle Destination model.

The results reflect the success of AWC’s Growth-Led Strategy, which focuses on expanding high-quality operating assets through both organic and inorganic growth, effective cost management, and a strong financial discipline, the Company maintained an interest-bearing debt-to-equity ratio of 0.92 times, better than the industry average. In addition, its portfolio diversification strategy has helped generate stable cash flow amid challenges in the domestic tourism sector. AWC remains committed to driving growth by adding high-quality assets to strengthen Thailand’s position as a leading global destination for sustainable tourism, in line with its mission of “Building Better Future For All” to create a better future for all stakeholders.

Hospitality Business Unit Shows Strong Growth Despite Low Season

In Q2/2025, the hospitality business recorded revenue of THB 2,612 million, an increase from the previous year, driven by contributions from new assets such as Meliá Pattaya Hotel, Thailand, Pattaya Marriott Resort and Spa, and Swissotel Bangkok Ratchada. Luxury resorts continued to attract high-quality tourists, with revenue for the segment increasing 6.9% YoY, supported by higher occupancy rates and Average Daily Rate (ADR), and a 7.1% YoY increase in Revenue Per Available Room (RevPAR). Koh Samui remained a top-performing destination, as did Chiang Mai, where RevPAR grew 8.4% YoY. The Company’s hotel portfolio maintained a strong Revenue Generation Index (RGI) averaging 102, with luxury resorts and Bangkok hotels achieving RGIs of 118 and 109, respectively.

Furthermore, Food and beverage revenue grew 8.7% YoY, driven in part by “EA” Rooftop at The Empire. With strong appeal to high-quality travelers through strategic partnerships with both domestic and global players, AWC hotels achieved high gross profit margins, including Banyan Tree Samui at 46% and Bangkok Marriott Marquis Queen’s Park at 45%. Government domestic tourism stimulus measures further boosted performance at key hotels such as Hua Hin Marriott Resort and Spa and Pattaya Marriott Resort and Spa.

InterContinental Chiang Mai The Mae Ping also achieved LEED Gold certification under LEED v4 BD+C: Hospitality, the first hotel in Thailand to do so. In Pattaya, AWC enhanced the city’s tourism appeal with the launch of Pattaya Marriott Resort and Spa, alongside revenue recognition from Meliá Pattaya Hotel, Thailand, and Swissôtel Bangkok Ratchada in the Jubilee Prestige Tower. As of Q2/2025, AWC’s hotel portfolio comprises 24 hotels with 6,834 rooms, the highest in the market since IPO, representing an increase of 3 hotels and 930 rooms year-to-date.

Commercial Business Unit Delivers Strong and Stable Cash Flow, Enhancing the Diversity of AWC’s High-Quality Portfolio with the World-Class Experiences Jurassic World: The Experience and Hatch Dome, Positioning the Destination as a Future Lifestyle Landmark.

The commercial business unit continued to deliver strong and stable cash flows in Q2/2025, supported by the AWC Lifestyle Destination model. Retail rental revenue grew 11.6% YoY, driven by an 8.4% increase in occupancy rates, particularly at repositioned shopping centers such as The Pantip at Ngamwongwan, The Pantip Lifestyle Hub in Chiang Mai, and Asiatique The Riverfront Destination. Office rental revenue grew 8.8% YoY, supported by the new Jubilee Prestige Tower in the heart of Ratchada. The launch of The Empire Food Lounge at The Empire enhanced tenant retention, with occupancy retention rates reaching 99%, reflecting strong confidence in the property’s world-class quality. With a focus on sustainable revenue growth through asset enhancement and market repositioning, the commercial business unit achieved an EBITDA margin of 85%, exceeding the industry average.

In addition, the Company continues to enhance its office buildings to meet international green building and wellness standards for occupants. Most recently, four office properties, The Empire, Athenee Tower, 208 Building Wireless Road, and Interlink Tower Bangna, have achieved 2-Star FITWEL Certification. AWC also aims to have all four properties certified under the LEED green building standard within this year.

In the retail segment, AWC continues to strengthen its projects, including the launch of a new Food Lounge at Gateway Ekamai. Both The Pantip Lifestyle Hub in Chiang Mai and The Pantip at Ngamwongwan delivered outstanding performance, with significant growth in occupancy rates and rental revenue. Asiatique The Riverfront Destination created a world-class phenomenon with the debut of Jurassic World: The Experience, the latest immersive experience of its kind in the world, marking its first appearance in Thailand. This is complemented by the Jurassic World: The Experience Fossil & Flame Restaurant, the world’s first Jurassic World-themed restaurant outside of a theme park, and the Hatch Dome, which offers a range of edutainment experiences combining learning and entertainment in one place, including Better World Better Future, Fossil Park, and Snake Garden. These attractions support AWC’s growth strategy by driving all-day visitor traffic from morning to night, boosting both revenue and tenant demand, while strengthening Bangkok and Thailand’s positioning as a global hub for entertainment and sustainable tourism.

Further affirming its success, the project was honored with the “Mall of the Year – Thailand” award at the Retail Asia Awards 2025, highlighting Asiatique The Riverfront Destination’s role as a world-class retail model that seamlessly blends tourism, learning, and entertainment, a true reflection of AWC’s vision to create lifestyle and sustainable tourism destinations for Thailand.

Strong Outlook for Second Half of the Year with Flexible and Resilient Strategies

AWC continue to expand its high-quality portfolio in the second half of the year, with upcoming projects such as Lannatique Kalare, a new cultural landmark in the heart of Chiang Mai. The Company maintains a strong and disciplined financial cost management, reinforcing the Company’s position as the industry leader in financial stability while upholding a high level of financial discipline. These efforts reduce risk, enhance investment flexibility, and support sustainable long-term growth.

The Company also benefits from positive momentum driven by the government’s tourism stimulus program “Travel in Thailand with Half-Half,” which boosts domestic tourism demand, particularly for hotels in Hua Hin and Pattaya, two of the most popular destinations. In parallel, strategic partnerships with world-class allies boasting a global network of over 710 million quality travelers have significantly increased the proportion of direct bookings to 70%. This has been a key driver in growing hotel reservations across AWC’s portfolio, especially in major tourist destinations such as Chiang Mai, Samui, Krabi, and Pattaya, where forward bookings have shown remarkable growth.

Building Better Future For All — Driving a Sustainable Future for All Stakeholders

AWC remains steadfast in its mission of “Building Better Future For All” through projects that create long-term value for all stakeholders. The Company was named for the first time in the Fortune Southeast Asia 500, ranked No. 1 in the world in the Hotels, Resorts & Cruise Lines sector by S&P Global for sustainability performance, and is a member of the Dow Jones Sustainability Indices (DJSI) Emerging Markets, FTSE4Good Index Series, and SET ESG Ratings for 2024 by the Stock Exchange of Thailand. In corporate governance, AWC received the ASEAN Asset Class award for the second consecutive year, was ranked among the Top 50 ASEAN Public Listed Companies in 2024 under the ASEAN Corporate Governance Scorecard, and achieved a perfect 100% score in the 2025 AGM Checklist for the fourth consecutive year. These accolades reaffirm AWC’s global leadership in sustainable development and its unwavering commitment to conducting business with transparency, adhering to the highest principles of corporate governance, and creating long-term sustainable value for all stakeholders.