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Thai (SET) Hospitality Industry Analysis
UpdatedDec 24, 2025
DataAggregated Company Financials
Companies22
- 7D2.0%
- 3M-5.5%
- 1Y-19.6%
- YTD-19.1%
In the last week, the Hospitality industry is up 2.0%, with Minor International up 2.9%. Meanwhile, Mud & Hound actually underperformed within the industry, shrinking 5.9% in the last week. In contrast, the industry has lost 20% in the last 12 months. As for the next few years, earnings are expected to grow by 13% per annum.
Industry Valuation and Performance
Has the Thai Hospitality Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 24 Dec 2025 | ฿327.9b | ฿278.7b | ฿17.3b | 17.2x | 18.9x | 1.2x |
| Fri, 21 Nov 2025 | ฿301.0b | ฿278.7b | ฿17.3b | 17.3x | 17.4x | 1.1x |
| Sun, 19 Oct 2025 | ฿328.5b | ฿279.0b | ฿15.4b | 21.9x | 21.4x | 1.2x |
| Tue, 16 Sep 2025 | ฿352.0b | ฿279.0b | ฿15.4b | 20.9x | 22.9x | 1.3x |
| Thu, 14 Aug 2025 | ฿338.3b | ฿288.3b | ฿17.6b | 19.5x | 19.2x | 1.2x |
| Sat, 12 Jul 2025 | ฿309.5b | ฿289.4b | ฿17.4b | 18.2x | 17.8x | 1.1x |
| Mon, 09 Jun 2025 | ฿311.1b | ฿289.4b | ฿17.4b | 18.7x | 17.9x | 1.1x |
| Wed, 07 May 2025 | ฿331.1b | ฿288.4b | ฿17.9b | 17.6x | 18.5x | 1.1x |
| Fri, 04 Apr 2025 | ฿356.8b | ฿288.4b | ฿17.9b | 19.5x | 19.9x | 1.2x |
| Sun, 02 Mar 2025 | ฿393.0b | ฿288.6b | ฿18.0b | 20.1x | 21.9x | 1.4x |
| Tue, 28 Jan 2025 | ฿368.7b | ฿281.0b | ฿13.4b | 26.8x | 27.6x | 1.3x |
| Thu, 26 Dec 2024 | ฿421.6b | ฿281.0b | ฿13.4b | 27.6x | 31.6x | 1.5x |
| Sat, 23 Nov 2024 | ฿432.1b | ฿281.4b | ฿13.4b | 27.8x | 32.4x | 1.5x |
| Mon, 21 Oct 2024 | ฿451.0b | ฿278.8b | ฿15.4b | 23.6x | 29.2x | 1.6x |
| Wed, 18 Sep 2024 | ฿452.0b | ฿278.8b | ฿15.4b | 24.4x | 29.3x | 1.6x |
| Fri, 16 Aug 2024 | ฿376.9b | ฿278.9b | ฿15.5b | 18.2x | 24.3x | 1.4x |
| Sun, 14 Jul 2024 | ฿464.0b | ฿273.3b | ฿15.8b | 23x | 29.3x | 1.7x |
| Tue, 11 Jun 2024 | ฿463.8b | ฿272.2b | ฿15.7b | 21.4x | 29.5x | 1.7x |
| Thu, 09 May 2024 | ฿506.8b | ฿264.1b | ฿12.5b | 25.4x | 40.5x | 1.9x |
| Sat, 06 Apr 2024 | ฿503.3b | ฿264.0b | ฿12.5b | 26.1x | 40.3x | 1.9x |
| Mon, 04 Mar 2024 | ฿484.9b | ฿264.5b | ฿12.6b | 24.8x | 38.5x | 1.8x |
| Wed, 31 Jan 2024 | ฿502.6b | ฿268.7b | ฿15.4b | 25.8x | 32.6x | 1.9x |
| Fri, 29 Dec 2023 | ฿486.7b | ฿268.7b | ฿15.4b | 24.5x | 31.6x | 1.8x |
| Sun, 26 Nov 2023 | ฿481.0b | ฿268.6b | ฿15.5b | 25.3x | 31.1x | 1.8x |
| Tue, 24 Oct 2023 | ฿480.8b | ฿260.1b | ฿17.9b | 26.8x | 26.9x | 1.8x |
| Thu, 21 Sep 2023 | ฿527.4b | ฿260.1b | ฿17.9b | 28.7x | 29.5x | 2x |
| Sat, 19 Aug 2023 | ฿533.4b | ฿259.9b | ฿17.8b | 29.4x | 29.9x | 2.1x |
| Mon, 17 Jul 2023 | ฿552.1b | ฿246.9b | ฿14.3b | 32x | 38.7x | 2.2x |
| Wed, 14 Jun 2023 | ฿599.7b | ฿246.9b | ฿14.3b | 37.2x | 42x | 2.4x |
| Fri, 12 May 2023 | ฿598.6b | ฿236.8b | ฿11.1b | 60.1x | 53.8x | 2.5x |
| Sun, 09 Apr 2023 | ฿594.2b | ฿224.4b | ฿8.1b | 66.2x | 73.5x | 2.6x |
| Tue, 07 Mar 2023 | ฿613.9b | ฿216.4b | ฿6.4b | 45.1x | 95.5x | 2.8x |
| Thu, 02 Feb 2023 | ฿614.7b | ฿201.3b | ฿1.4b | 38.5x | 454.5x | 3.1x |
| Sat, 31 Dec 2022 | ฿618.7b | ฿201.3b | ฿1.4b | 37x | 457.4x | 3.1x |
Price to Earnings Ratio
457.4x
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 18.9x which is lower than its 3-year average PE of 56.4x.
- The 3-year average PS ratio of 1.8x 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 134% per year over the last three years.
- Revenues for these companies have grown 11% 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 | 0.83% | |
| Consumer Discretionary | 1.51% | |
| Hospitality | 1.97% | |
| Hotels, Resorts and Cruise Lines | 2.22% | |
| Restaurants | 1.15% | |
| Leisure Facilities | 1.04% | |
Industry PE
- Investors are most optimistic about the Restaurants industry which is trading above its 3-year average PE ratio of 26.6x.
- Analysts are expecting annual earnings growth of 13.1%, which is higher than its past year's earnings decline of 16.0% per year.
- Investors are most pessimistic about the Hotels, Resorts and Cruise Lines industry, which is trading close to its 3-year average of 15.7x.
Forecasted Growth
- Analysts are most optimistic on the Hotels, Resorts and Cruise Lines industry, expecting annual earnings growth of 14% over the next 5 years.
- This is roughly in line with its past earnings growth rate.
- In contrast, the Restaurants industry is expected to see its earnings grow by 13% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| MINT Minor International | ฿24.60 | 2.9% +฿4.0b | -7.2% | PE17.6x | |
| AWC Asset World Corp | ฿2.20 | 4.8% +฿3.2b | -39.2% | PE11x | |
| CENTEL Central Plaza Hotel | ฿33.00 | 1.5% +฿675.0m | -3.6% | PE26.4x | |
| M MK Restaurant Group | ฿19.00 | 1.6% +฿271.1m | -23.7% | PE15.8x | |
| BEYOND Bound and Beyond | ฿8.85 | 9.3% +฿217.3m | 7.3% | PS0.8x |
