VRANDA targets up to B400 million from Phuket property in H2 2026

Veranda Resort Public Company Limited (VRANDA) has begun ownership transfers and revenue recognition for its Veranda Villas & Suites Phuket project, targeting B300 million to B400 million in revenue from the development during the second half of 2026.

The Phuket property is expected to support the company's performance from the third quarter of 2026, according to chief executive officer Phawat Ongvasit, who said Thailand's tourism industry was likely to expand strongly in the second half of the year.

VRANDA reported total revenue of B857 million for the first half of 2026, up 16% year on year. Normalised earnings before interest, tax, depreciation and amortisation rose 31% to B276 million, while normalised operating profit increased 662% to B61 million.

The company also recorded a non-cash loss of B56 million from the early repayment of a refinanced loan. It said the refinancing would significantly reduce finance costs over the following several years compared with the previous financing structure.

Phawat said VRANDA was reducing its reliance on online travel agencies by increasing direct bookings through its loyalty programme, experience-based benefits and an upgraded website booking system. The company is also targeting independent Chinese travellers through Xiaohongshu, WeChat and Douyin, while expanding in European, Russian and other Asian markets.