Message from the Chairman
On behalf of the Board of Directors, I am pleased to present the Annual Report of Central Plaza Hotel Plc for the year ending 31 December 2021.
The travel and hospitality business around the world continues to be impacted by the global Covid pandemic. However, we are staying positive and overcoming challenges together as one team as we continue to expand our business. In 2021, we were able to maintain a strong Balance Sheet, bolstered by the gradual return of international tourists to our hotels following the controlled reopening of the country and the success of government subsidy campaigns to stimulate domestic tourism.
Heading into 2022, the company has made careful preparations to ensure sufficient financial support for 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 2021, we introduced travellers to two new destinations with the expansion of our Centara Mirage brand, namely Centara Mirage Resort Mui Ne and Centara Mirage Beach Resort Dubai, located in the coastal city of Mui Ne in southern Vietnam and in the Deira Islands in the UAE respectively. In Thailand, we also successfully opened Centara Reserve Samui, our flagship luxury property on the resort island. Looking forward, we continue to strive to expand our business base in line with the company’s vision of becoming a leading hotel and resort group in the world.
As for our retail food business, Central Restaurants Group (CRG) has adopted three operational strategies in light of the market uncertainty surrounding the pandemic, which include strategic sales stimulation and efficient cost management. We are also being prudent with our expansion and investment plans, and in April 2021 we acquired one joint venture brand - Som Tam Nua, well known for their Thai Isaan food. At the end of 2021, the CRG portfolio comprised 19 brands with 1,389 outlets including franchised outlets, owned outlets, and joint venture outlets. Even with the challenges ahead, CRG aims to achieve significant year-on-year growth in 2022, driven by outlets expansion, existing joint venture brands acquired in the past few years, and continuing cost control efficiency.
The progress we made in this difficult year, the second consecutive year impacted by the Covid pandemic, is extraordinary, made possible only by the solid support of our shareholders, business partners, suppliers and staff.
Thank you for the dedication and hard work of all the staff leading up to this point, and our valued shareholders and business partnership 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