Message from the Chairman
It has been over a year since I have taken the position of the Chairman of the Board of Director of U City, with the goal of rehabilitating the company. Thereafter in 2018, we have seen significant changes in U City such as the capital restructuring and business operations. After we acquired Vienna House in Europe since May 2017, not only have we obtained additional hotels but also the brands and a hotel management platform which enables us to realise synergies from the cross-migration of brands with the hotel management platform in Asia for the rapid future growth. Besides this, we’ve acquired more properties to our portfolio from the Entire Business Transfer of Unicorn Enterprise Company Limited. The company has recently restructured the capital for the purpose of reducing the deficit in order to pay dividends once the company has turned profitable, this is a significant factor in strengthening our business, sustainably.
For the next step, we are poised to invest in the property business that could generate revenue growth particularly in the overseas as well as searching for the new branded hotel or hotel management platform to expand from the current business. The company has formed a team with local and international experts for investing and developing property in every region. We are also focusing on developing the property project on our own land or in a joint venture with partners such as Sansiri JV project; a leading residential property developer possessing solid marketing expertise. I’m encouraged that with the strong strategic partners and sufficient source of funding we possess, U City is able to grow sustainably and be ready for a potential opportunities in the future for additional shareholder value.
Apart from future earnings enhancement, the Company also concentrates on operating its business responsibly with all stakeholders such as employees, business partners, our shareholders as well as communities. Our Board of Directors is focusing on good corporate governance and transparency, which in turn will bring U City towards strong and sustainable growth in the future.
On behalf of the Board of Directors, I would like to extend my appreciation to our shareholders, business partners, financial institutions and government agencies for their trust, support and confidence as well as to U City. Moreover, I would like to express my appreciation to our directors, management and employees for their indefatigability and dedication to the success of our business operations.
Mr. Keeree Kanjanapas
Chairman of the Board of Directors
U City Public Company Limited