Wichak Phraditwanit, Chief Executive Officer and Managing Director of MBK Public Company Limited, or MBK, disclosed that the operating performance trend for the third quarter of 2026 for the MBK group remains positive, driven by a recovery in tourist numbers, which is supporting customer traffic at its shopping centres and the performance of its City Hotel business. In the first half of 2026, MBK recorded net profit attributable to shareholders of the parent company of 2.563 billion baht, up about 19% from the same period a year earlier, comprising first-quarter 2026 profit of 1.211 billion baht and second-quarter 2026 profit of 1.352 billion baht. For the shopping centre business, MBK Center had an occupancy rate of about 98% in the first half of 2026 and expects to maintain that level throughout the year, while rents can be gradually raised at lease renewal cycles by an average of about 3 to 5% per year. On the hotel side, although overall tourist numbers are trending toward a slowdown, the average room rate in the first half of 2026 has not yet been significantly affected. The occupancy rate in the second quarter of 2026 was partly affected by conflict in the Middle East, which disrupted travel by European and Middle Eastern tourists. In the second half of 2026, signs of recovery are beginning to emerge, especially for City Hotel properties, and the overall picture is expected to have a chance of returning to close to the second half of 2025. As for Resort Hotel properties in the South, although the third quarter of 2026 is the off-season for tourism, the fourth quarter of 2026 through the first quarter of 2027 is the tourism season, and with support from several international events and major festivals, this is expected to strongly support growth in the segment. As for Riverdale District, the company is in the process of developing the project as an ecosystem to enhance the potential and value of roughly 1,500 rai of land, as well as to increase opportunities to sell and lease land around the golf course. Development is expected to begin to be visible from late 2026, starting with the opening of a football pitch. Meanwhile, Invictus International School, which leases land from the company, is scheduled to begin operations in 2027. For the Finance business, operating results in 2026 remain at a good level, with the company focusing on controlling loan portfolio quality, while a joint venture to operate a motorcycle hire-purchase lending business is a growth driver that will play a greater role going forward. The Auction business is not yet a main growth driver this year, as the number of cars entering the auction yard is still slowing amid caution by financial institutions in extending auto loans and the effects of the Bank of Thailand's debt relief measures.
MBK Public Company LimitedRecovery in tourist numbers is boosting customer traffic at MBK's shopping centres and City Hotel business, with Q3 2026 performance expected to stay positive.
