Dear Shareholders,

On behalf of the Board of Directors, I am pleased to present the Annual Report of Central Plaza Hotel Pcl for the year ending 31 December 2020.

Each year brings its own set of challenges, but 2020 was unprecedented due to the global COVID-19 pandemic. Despite the obstacles, we were able to sustain a healthy Balance Sheet and effectively manage our financial liquidity to steer the company through the extremely difficult year by exercising caution and applying swift and effective cost controls.

Heading into 2021, the company has made careful preparations to ensure appropriate financial liquidity management amid continuing uncertainties. Given the travel landscape, we continue to exercise prudence particularly with regard to our investments while successfully meeting our strategic goals to expand our footprint in both domestic and international markets.

In 2020, we grew our Centara Boutique Collection, Centra by Centara and COSI brands with four impressive new hotel openings, and also signed 10 new hotel management agreements domestically and internationally. We increased our presence both in and outside Thailand, and also entered some inspiring new destinations, including Khao Yai and Bangkok in Thailand, Mui Ne and Cam Ranh in Vietnam, Hpa-An and Mandalay in Myanmar, Muscat in Oman and Vang Vieng in Laos.

Also in Vietnam, we are broadening our theme park resort brand, Centara Mirage, with the opening of Centara Mirage Resort Mui Ne, located in a popular getaway destination for residents of Ho Chi Minh City. We are also expanding into the UAE with the opening of Centara Mirage Beach Resort Dubai.

Thanks to such bold yet well planned growth, we remain positive and excited to begin the new year with a clear focus on delivering exceptional customer experience. We already have a number of highlights to look forward to in 2021, including the opening of Centara Reserve Samui, a stunning flagship property for our luxury brand.

As for the retail food business, Central Restaurants Group (CRG) demonstrated continuous growth and revenue despite measurements to prevent the spread of COVID-19,

The slowdown in the Thai economy and domestic consumption, as well as fierce business competition. CRG expanded its sales channels with special focus on food delivery and takeaway, which in turn significantly increased revenue contributions in the past year. In order to sustain long-term growth, CRG continued to expand with new branches and brands. At the end of 2020, the CRG portfolio comprised 17 brands with 1,120 outlets including franchised brands, owned brands and joint venture brands.

It’s especially important during such testing times to have the solid support of our shareholders, business partners, suppliers and staff. For that, I want to express my sincere gratitude. Thank you for your dedication and hard work leading up to this point, and for continuing on the journey with us as we strive to build a future that fully leverages our strengths and fulfills our commitment to long term success.

Mr. Suthikiati Chirathivat
Chairman of the Board