economy growth in 2019, the slowdown of Government’s energy Saving programs promoting the replacement of conventional lamps to LED and the delays of sales revenue recognition resulting from product
Dusit Princess Srinakarin while the overseas hotels showed an increase of revenue as well as additional revenue recognition from Elite Havens which Company invested in late 2018 and also revenue from
policies of major countries and the Baht’s ongoing appreciation. However, the Thai economy has been supported by the expansion of private consumption, due to an increase in auto sales in the first half of
appreciation. Private consumption grew at a slower rate than in the first half of the year, especially spending on durable goods in line with a contraction in domestic vehicle sales. In response, the government
is attributed to the appreciation of the Thai Baht versus the US dollar. Selling expenses Consolidated selling expenses for the year 2017 and 2016 amounting to THB 483 million and THB 458 million
exchange gain The Company recorded consolidated net gain on foreign exchange for the year 2017 amounting to THB 1,245 million (Separate: THB 826 million). The gain is attributed to the appreciation of the
exchange for the 3rd quarter of 2017 amounting to THB 268 million (Separate: THB 165 million). The gain is attributed to the appreciation of the Thai Baht versus the US dollar. Selling expenses
result of (i) the THB appreciation against EUR (THB appreciated from 35.90 THB/EUR in 1Q 2019 to 34.49 THB/EUR in 1Q 2020) since the majority of the Company’s hotels earns their revenue in Euro and (ii
) increased 68 keys under AHS management contracts. The Average Daily Rate (ADR) decreased by THB 523 per night as a result of (i) the THB appreciation against EUR (THB appreciated from 35.70 THB/EUR in 2Q 2019