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Thai (SET) Hospitality Industry Analysis

UpdatedJun 23, 2026
DataAggregated Company Financials
Companies22
  • 7D0.2%
  • 3M13.9%
  • 1Y24.2%
  • YTD6.3%

The Hospitality industry has been flat over the last week, but MK Restaurant Group has lost 3.7%. The past year has been better, since the industry has gained 24% in that time. As for the next few years, earnings are expected to grow by 8.7% per annum.

Industry Valuation and Performance

Has the Thai Hospitality Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 23 Jun 2026฿348.8b฿282.4b฿15.4b17.6x22.6x1.2x
Thu, 21 May 2026฿313.8b฿281.6b฿15.6b16.7x20.1x1.1x
Sat, 18 Apr 2026฿321.4b฿278.9b฿13.9b17.3x23.2x1.2x
Mon, 16 Mar 2026฿310.6b฿278.8b฿14.7b17.9x21.1x1.1x
Wed, 11 Feb 2026฿357.2b฿278.7b฿17.3b17.6x20.6x1.3x
Fri, 09 Jan 2026฿321.1b฿278.7b฿17.3b17x18.6x1.2x
Sun, 07 Dec 2025฿311.1b฿278.7b฿17.3b17.3x18x1.1x
Tue, 04 Nov 2025฿328.4b฿279.0b฿15.4b21.4x21.4x1.2x
Thu, 02 Oct 2025฿337.4b฿279.0b฿15.4b21.6x22x1.2x
Sat, 30 Aug 2025฿328.5b฿287.2b฿16.9b18x19.4x1.1x
Mon, 28 Jul 2025฿327.6b฿289.4b฿17.4b20.1x18.8x1.1x
Wed, 25 Jun 2025฿292.3b฿289.4b฿17.4b17.8x16.8x1x
Fri, 23 May 2025฿306.6b฿291.6b฿17.4b18.5x17.6x1.1x
Sun, 20 Apr 2025฿344.7b฿288.4b฿17.9b18x19.3x1.2x
Tue, 18 Mar 2025฿384.7b฿288.4b฿17.9b19.6x21.5x1.3x
Thu, 13 Feb 2025฿372.2b฿281.0b฿13.4b25x27.9x1.3x
Sat, 11 Jan 2025฿383.9b฿281.0b฿13.4b26.8x28.8x1.4x
Mon, 09 Dec 2024฿436.5b฿281.0b฿13.4b27.4x32.7x1.6x
Wed, 06 Nov 2024฿438.7b฿278.8b฿15.4b23.9x28.4x1.6x
Fri, 04 Oct 2024฿453.5b฿278.8b฿15.4b23.8x29.4x1.6x
Sun, 01 Sep 2024฿416.5b฿278.8b฿15.4b19.7x27x1.5x
Tue, 30 Jul 2024฿458.8b฿273.3b฿15.8b22.5x29x1.7x
Thu, 27 Jun 2024฿465.3b฿273.3b฿15.8b22.5x29.4x1.7x
Sat, 25 May 2024฿475.6b฿272.1b฿15.7b22.4x30.3x1.7x
Mon, 22 Apr 2024฿491.8b฿264.0b฿12.5b25.2x39.4x1.9x
Wed, 20 Mar 2024฿492.7b฿264.0b฿12.5b25x39.5x1.9x
Fri, 16 Feb 2024฿486.0b฿262.0b฿13.2b26.8x36.9x1.9x
Sun, 14 Jan 2024฿495.6b฿268.7b฿15.4b25.3x32.1x1.8x
Tue, 12 Dec 2023฿478.0b฿268.6b฿15.5b24.2x30.9x1.8x
Thu, 09 Nov 2023฿489.0b฿260.2b฿17.8b26.7x27.4x1.9x
Sat, 07 Oct 2023฿506.4b฿260.1b฿17.9b27.6x28.3x1.9x
Mon, 04 Sep 2023฿556.1b฿260.1b฿17.9b29.2x31.1x2.1x
Wed, 02 Aug 2023฿553.5b฿246.9b฿14.3b31.9x38.8x2.2x
Fri, 30 Jun 2023฿569.9b฿246.9b฿14.3b33.2x39.9x2.3x
Price to Earnings Ratio

39.9x


Total Market Cap: ฿569.9bTotal Earnings: ฿14.3bTotal Revenue: ฿246.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Thai Hospitality Industry Price to Earnings3Y Average 26.6x202420252026
Current Industry PE
  • Investors are pessimistic on the Thai Hospitality industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 22.6x which is lower than its 3-year average PE of 26.6x.
  • The 3-year average PS ratio of 1.5x is higher than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Hospitality industry have grown 2.6% per year over the last three years.
  • Revenues for these companies have grown 4.6% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Thai Consumer Discretionary industry?

TH Market-1.11%
Consumer Discretionary1.78%
Hospitality0.18%
Hotels, Resorts and Cruise Lines0.33%
Restaurants-0.30%
Leisure Facilities-1.02%
Industry PE
  • Investors are most optimistic about the Restaurants industry, which is trading close to its 3-year average PE ratio of 26.6x.
    • Analysts are expecting annual earnings decline of 1.2%, which is less than its past year's earnings decline of 19.9%.
  • Investors are most pessimistic about the Leisure Facilities industry, which is trading below its 3-year average of 32.1x.
Forecasted Growth
  • Analysts are most optimistic on the Hotels, Resorts and Cruise Lines industry, expecting annual earnings growth of 12% over the next 5 years.
  • This is better than its past earnings decline of 16% per year.
  • In contrast, the Restaurants industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
SHANG Shangri-La Hotel฿47.506.7%
+฿390.0m		1.6%PE21.8x
MUD Mud & Hound฿0.757.1%
+฿52.7m		-37.0%PS0.3x
QDC Quantum D C฿0.0912.5%
+฿3.7m		-96.2%PS2.8x

Latest News

M
฿20.60
MK Restaurant Group
7D
-3.7%
1Y
39.2%
ERW
฿2.88
Erawan Group
7D
-4.0%
1Y
44.7%
Narrative Update • Jun 17

ERW: Stable Fair Value And Refined Assumptions Will Support Future Upside

Analysts have adjusted their valuation framework for Erawan Group, keeping the fair value estimate steady at THB4.72 while making small technical updates to the discount rate, revenue growth, profit margin and future P/E assumptions that refine, rather than redefine, their price target view. What's in the News for Erawan Group No recent news stories for Erawan Group are available from the provided sources as of 16 Jun 2026.
OHTL
฿261.00
OHTL
7D
-7.1%
1Y
-1.5%
MINT
฿24.10
Minor International
7D
-0.4%
1Y
3.9%
Narrative Update • Jun 07

MINT: Share Buyback And Investor Day Will Support Future Returns

Analysts have slightly adjusted their price target for Minor International, trimming fair value from THB32.67 to THB32.26 as they factor in revised assumptions for discount rate, revenue growth, profit margin and forward P/E. What's in the News The company completed a share buyback program, repurchasing 45,402,400 shares, representing 0.8% of its shares, for THB 1,047.83 million under the buyback announced on November 28, 2025 (Key Developments).
MUD
฿0.75
Mud & Hound
7D
7.1%
1Y
-37.0%
AU
฿4.72
After You
7D
-1.7%
1Y
-23.9%
AWC
฿2.56
Asset World Corp
7D
-3.0%
1Y
48.0%
CENTEL
฿35.50
Central Plaza Hotel
7D
-1.4%
1Y
51.1%
SHANG
฿47.50
Shangri-La Hotel
7D
6.7%
1Y
1.6%
QDC
฿0.09
Quantum D C
7D
12.5%
1Y
-96.2%
DUSIT
฿10.70
Dusit Thani
7D
-5.3%
1Y
32.1%