BC Accelerates Growth in Second Half, Expands Asset-Light Model Through "TPO" Ready to Launch New Projects, Strengthening Recurring Income Portfolio

Mr. Prabsharan Singh Thakral, Chief Executive Officer of Boutique Corporation Public Company Limited, or BC, said, the company's performance in the first half remained on track with its established direction, as the company focused on improving asset efficiency alongside cost management and expanding revenue-generating businesses to strengthen its long-term revenue structure.

"BC continues to expand Asset-Light business type by hotel and asset management service as Third-Party Operator (TPO) to generate Recurring Income and scale up the business efficiently in terms of capital investment,"

For the first half of 2026, BC recorded total revenue of 223.7 million Baht, a decrease compared to the previous year due to the recognition of proceeds from the divestment of the company's investment in the Summer Point project during the first half of 2025. However, excluding the impact of that divestment, revenue from hotel and shopping center operations in the first half of 2026 increased by 6.3% year-on-year, partly driven by the renovation and rebranding of Journeyhub Patong Phuket into Mercure Phuket Patong Journeyhub, which began operating under the new brand starting in Q4/2025.

Meanwhile, Q2/2026 total revenue came to 81.4 million Baht, up to 5.3% year-on-year, supported by growth in hotel and shopping center revenue as well as increased management fee income, even as the tourism sector continued to face uncertainty from geopolitical tensions in the Middle East. Total revenue from Bangkok projects stood at 74.9 million Baht, up 2.8% year-on-year on improved occupancy rates, while upcountry projects generated revenue of 45.3 million Baht, down slightly by 0.6% year-on-year.

For Cove Hill, which operates as a joint venture, leasing revenue in Q2/2026 came to 8.1 million Baht, up to 5.6% year-on-year, supported by an increase in occupancy rate from 76% to 86%.

On the profitability side, EBITDA in Q2/2026 was negative 24.6 million Baht, an improvement of 20.6% year-on-year, driven by higher operating revenue and cost control measures, while net loss attributable to the company stood at 52.7 million Baht, an improvement of 5.4% year-on-year.

Looking ahead, BC will continue developing our business portfolio through a combination of the Build-Operate-Sell (BOS) model and holding recurring-income-generating assets, alongside expanding its Asset-Light business through hotel and asset management services as a Third-Party Operator (TPO), to increase the proportion of management fee income and build long-term Recurring Income.

For the second half of 2026, the company will proceed with new project developments as planned. Moevenpick Resort Kamala Beach Phuket, a 197-room property in Kamala Beach, Phuket, is expected to open by the end of 2026, while the Sukhumvit 5, Bangkok project, comprising 174 rooms, is expected to open in early 2027. The company will also continue developing the JW Marriott Bangkok Sukhumvit 24 project and the Kamala 2 project, as well as expand partnerships to increase opportunities for hotel management contracts and grow its Asset-Light business portfolio.

"In the second half of the year, BC will focus on improving asset efficiency while expanding its Asset-Light business through Third-Party Operator (TPO) services, and continue developing high-potential projects to increase the proportion of Recurring Income, while managing costs and capital investment efficiently to support strong and sustainable long-term growth," Mr. Prabsharan Singh Thakral, concluded.

• ข่าวJW Marriott
• ข่าวMoevenpick
• ข่าวo:member
• ข่าวo:prop
• ข่าวo:real