Message from the CEO
In 2017, U City Public Company Limited has created a solid foundation for business expansion along numerous dimensions to enable long term profitable growth in our business. Our investment in a hotel business that includes an attractive portfolio of hotels a hotel management platform in Europe has firmly propelled us to become a leading hospitality player in Thailand with hotels located in diverse yet attractive countries such as Germany, Czech Republic, Poland and Romania. The contribution of Vienna House to the performance of the Company has and will continue to be considerable. I am confident that future upside can be achieved through this platform in the future as we plan to continuously increase the number of hotels under ‘Vienna House’ and ‘Vienna House Easy’. Moreover, we are excited by the prospect of a future brand in the pipeline, which will address contemporary preferences and trends.
To achieve sustainable growth, we are not focusing only on revenue and long term profitable growth but also on investment management and capital allocation. In order to reach sustainability, the Company’s 5-pronged strategy includes: (i) diversified and prudent investment (ii) efficient use of capital and capital recycling (iii) sustainability through responsiveness to changes in consumer preferences as well as consciousness of the environment and community, (iv) partnerships that enable us to access expertise and new business opportunities and finally (v) undertaking development and investment of property located in close proximity to mass transit lines to benefit from the ‘mass transit premium’.
The aforementioned corporate strategy cannot be effectively executed without the support of capable, dedicated human resources. To ensure we remain on track, we are committed to developing technical competency within the organization, to motivate management and employees and to share know-how within the organisation and allow best practices to take root.
Our long and exciting journey has only begun. In March 2018, we successfully raised additional capital to finance the acquisition of the majority of BTS Group Holdings Limited’s (BTSG) property business and to strengthen our capital base for future expansion. The additional hospitality portfolio, as well as, an office building, a successful yet budding condominium development joint-venture with Sansiri and attractive land bank, we face the enviable prospect of unlocking future synergies that will benefit all shareholders.
Finally, on behalf of the executive committee, I would like to express our appreciation to our shareholders, directors, executives, financial institutions, business partners and customers for their unwavering trust, support and commitment to our company.
Ms. Piyaporn Phanachet
Chief Executive Officer
U City Public Company Limited