Hotel stocks 2025-2026: 8 solid picks worth investing in from the Thai and international markets

Over the past two years, hotel stocks have become a focus for many investors as the tourism sector begins to recover from the crisis. 2025 marks a significant transition year, as tourist flows return to normal and continue to increase. Each hotel stock has the potential to generate attractive returns, depending on proper selection and analysis.

Tourism Sector Rebound: Are Hotel Stocks Heating Up?

The global tourism recovery has led to continuous return of travelers. Changes in traveler behavior, such as preferences for sustainable tourism and local experiences, have prompted hotel companies to adapt and develop new services. As a result, hotel stocks carry risks and opportunities that should be closely monitored.

The clearest sign is the continued travel of both international and domestic tourists. Occupancy rates and average room rates are rising, reflected in each company’s RevPAR (Revenue Per Available Room) metrics.

Top 5 Thai Hotel Stocks for Easy Investment

1. MINT (Minor International): Leader in Hospitality Brands

MINT is a major company managing and owning numerous hotel brands worldwide, from Angsana to Oaks. In 2024, the company reported a net profit of 7.75 billion baht, up 43% from the previous year. This strong recovery is reflected in its P/E ratio of 20.85 times, with a current stock price of 28.25 baht. Suitable for investors seeking diversified exposure.

2. AWC (Asset World Corp): Expert in Real Estate Development

AWC manages hotels and prime properties in Thailand, focusing on conference and MICE (Meetings, Incentives, Conferences, Exhibitions) facilities. From 2025 onward, AWC plans to upgrade and develop several hotels. Its P/E ratio is 16.19 times, with a stock price of 2.96 baht. Ideal for investors with limited budgets.

3. CENTEL (Central Plaza Hotels): Front-Runner in Development

CENTEL owns numerous hotels in key tourist destinations in Thailand. The company plans a 19 billion baht investment over three years to expand and upgrade assets. In 2025, it opened new hotels and started luxury asset renovations in Hua Hin and Krabi. Revenue is projected to reach 15 billion baht by the end of 2025, growing 23%. P/E ratio is 25.22 times, with a stock price of 33.00 baht.

4. ERW (The Erawan Group): Risk Diversification Specialist

ERW owns a diverse portfolio of hotel assets, from luxury to mid-range, across Thailand. In Q4 2024, orders from MICE groups increased significantly, indicating ERW benefits from the resurgence of corporate events. P/E ratio is 12.67 times, with a stock price of 3.24 baht.

5. SHR (S Hotels and Resorts): High-End Management Focus

SHR specializes in managing premium hotels and resorts in top tourist locations domestically and abroad. In Q4 2024, the company expects to return to profitability. The renovation of SAii Laguna Phuket was completed ahead of schedule, and the SO/Maldives hotel enters peak season. P/E ratio is 58.49 times, with a stock price of 2.16 baht. Investors should note the high P/E compared to peers.

Three Success Stories of International Hotel Stocks

1. Marriott International (MAR): The Queen of Global Hotel Chains

Marriott is an American company managing, investing in, and owning the world’s largest hotel chain, with notable brands like Marriott, Ritz-Carlton, Sheraton, and W Hotels. Its strength lies in its loyalty program that attracts repeat guests, along with investments in technology and customer experience. Current stock price is USD 280, with a P/E of 32.52. A solid long-term investment.

2. Hilton Worldwide Holdings (HLT): Service Standard Setter

HLT is a multinational American company franchising and managing hotels worldwide. Known for high service quality, it earns high customer satisfaction scores. Its flexible business model adapts well to changing circumstances. Current stock price is USD 258, with a P/E of 42.09.

3. Wyndham Hotels & Resorts (WH): Middle Market Winner

Wyndham focuses on budget and mid-range hotels, with a diverse portfolio across many countries. Its growth stems from continuous expansion of its network, increasing room supply in the mid-market segment. This offers good profit potential. Current stock price is USD 104, with a P/E of 29.03. Suitable for investors seeking steady growth with moderate risk.

Smart Hotel Stock Selection: 5 Key Criteria

Perspective 1: Financial Performance and Profitability

Review revenue and profit over the past 3-5 years to identify growth trends. Analyze gross margin and net margin to assess profitability. Study financial ratios such as debt-to-equity to evaluate financial strength and operational risks.

Perspective 2: Operational Metrics of Hotels

Occupancy Rate: The proportion of occupied rooms relative to total rooms. Higher is better; generally, 70%+ is desirable.

Average Daily Rate (ADR): The average price charged per room. Higher ADR indicates better asset quality and prime locations.

Revenue Per Available Room (RevPAR): Combines occupancy rate and ADR; a key indicator of hotel management efficiency.

Perspective 3: Long-term Strategy and Development Plans

Research management’s track record and growth strategies, such as new hotel openings, asset upgrades, or entering new markets. Ensure these align with market trends.

Perspective 4: External and Macroeconomic Factors

Monitor tourism trends, interest rates, and exchange rates, especially for international travelers. Consider government policies affecting tourism.

Perspective 5: Brand Strength and Diversification

Choose companies with well-known, reputable brands. Strong brands provide competitive advantages. Companies with only one or two hotels may carry higher risk, whereas diversified portfolios across locations and segments reduce risk.

Investment Pathways for Thai Investors in Hotel Stocks

Thai investors have several options, each with pros and cons:

1. Stock Exchange of Thailand (SET)

Method: Open an account with a licensed broker to buy and sell Thai hotel stocks directly on SET.

Advantages: Convenient, quick, no currency exchange concerns, generally lower fees.

Disadvantages: Limited selection of hotel stocks; some assets may be unavailable.

2. Hotel-focused Mutual Funds

Method: Invest in mutual funds specializing in hotel or tourism sector stocks.

Advantages: Managed by experts, diversified portfolios, suitable for those who don’t monitor markets regularly.

Disadvantages: Management fees, lack of direct control over holdings.

3. International Brokerage Accounts

Method: Open an international trading account to access foreign stocks like Marriott, Hilton, Wyndham.

Advantages: Access to high-potential foreign stocks.

Disadvantages: Currency exchange considerations, higher fees, need to monitor international markets.

Final Recommendations

2025-2026 will be a pivotal period for hotel stocks, both domestically and internationally, driven by global tourism recovery, government tourism policies, and returning travelers. Investing in hotel stocks offers opportunities, but investors should remain cautious due to inherent risks.

Global economic volatility, political uncertainties, or unforeseen events (e.g., pandemics, natural disasters) could impact the tourism industry.

Investor Tips:

1. Conduct thorough financial analysis, focusing on RevPAR and ADR.

2. Prefer companies with strong or diversified brands to mitigate risks.

3. Consider long-term investment horizons (3-5 years or more), as tourism recovery is gradual.

4. Use Dollar Cost Averaging (DCA) by investing fixed amounts periodically to reduce volatility risk.

5. Stay updated with credible news and analysis, and consult financial experts when needed.