According to information announced at the 2024 Annual General Meeting of Thanh Thanh Cong Tourism Joint Stock Company Shareholders on April 24, 2024.
TTC Hospitality's total assets in 2023 will reach VND 3,910 billion, up 37% compared to 2022, an increase equivalent to more than VND 1,000 billion. At the same time, the Company also strives to exceed its financial targets in 2024.
In 2023, TTC Hospitality will continue to expand its scale and operation model by completing the schedule and putting into operation important projects: TTC Van Phong Bay Resort - a resort on Doc Let beach, Khanh Hoa province; TTC Mekong Aqua Park - an interactive water park and zoo in Ben Tre province; Thousand Thong Glass Bridge at Love Valley tourist area - the first 7D glass bridge in the Central - Central Highlands region; Garden of Light (Valley of Love) with LED light models, contributing to positive changes for the night economy in Da Lat city; The giant wind chime tower up to 10m high is located in the middle of the green ironwood forest, providing a "healing" space in the middle of the sacred mountains...
Ta Cu wind chime tower with 6 giant bell tubes combined with small wind chimes around creates a harmony of "healing".
In addition, in 2023, TTC Hospitality has also successfully M&A TTC Imperial Hotel, a five-star hotel in Hue city with unique royal architecture. This is the 3rd five-star hotel of TTC Hospitality next to TTC Hotel in Can Tho City and Hotel Michelia in Nha Trang City.
According to Ms. Phan Thi Hong Van, Chairwoman of the Board of Directors of TTC Hospitality, for the accommodation sector, TTC Hospitality is aiming for the five-star segment through standardizing service quality, renovating facilities and investing in new items to meet national standards for hotels and resorts.
"TTC Van Phong Bay Resort will be the 4th 5-star hotel of the TTC Hospitality chain and we are also in the process of upgrading other 4-star hotels such as TTC Hotel - Phan Thiet and TTC Hotel - Ngoc Lan 5-star standards also contribute to improving customer experience and creating value for investors and partners," Ms. Phan Thi Hong Van added.
It’s known that in 2023, TTC Hospitality will also expand its operating model through management and operation services of accommodation establishments. Specifically, TTC Hospitality officially provides management services for Emerald Ho Tram Resort - a comfortable resort on Ho Tram beach, Ba Ria - Vung Tau City. Emerald Ho Tram Resort marks the first presence of the TTC Hospitality brand in the vibrant tourist city in the South and is a premise for TTC Hospitality to continue to expand its scale and perfect a new operating model in the future.
TTC Hospitality has approved a plan to strive to exceed financial targets in 2024 with a net revenue of VND 760 billion and, profit before tax of VND 23 billion.
With a series of projects put into operation, TTC Hospitality's total assets increased from VND 2,847 billion to VND 3,910 billion, up 37% compared to 2023. At the same time, business results are positive when pre-tax profit in 2023 according to the consolidated financial statements recorded VND 22.9 billion, reaching 127% of the year plan and reaching 158% over the same period.
Also, at the General Meeting of Shareholders, TTC Hospitality approved the plan to strive to exceed financial targets in 2024 with a net revenue of VND 760 billion of profit before tax of VND 23 billion.
The Board of Directors for the term 2021 - 2025 launched the general meeting.
According to TTC Hospitality, in 2024, the Company will continue to invest in phase 2 of TTC Van Phong Bay Resort, TTC Mekong Aqua Park projects (in addition to ancillary elements that have been put into operation in 2023 such as Mekong Street, Coco Kids Club and TTC Mekong Central). At the same time, the Company also promotes the regional characteristics of the destinations to create highlights to attract guests such as: Preserving the culture of the ancient capital through traditional "king's rice" meals and Hue royal music at TTC Imperial Hotel; Embellishing and cherishing each architectural feature as well as enlivening Cham Pa culture through activities at TTC Resort - Ninh Thuan...
In recent years, the goal of sustainable development is not only a trend, but has become a mandatory task for businesses in all fields. Understanding this importance, TTC Hospitality hopes that 2024 will become the first milestone in its "Green Revolution" process. Starting from ensuring that new projects comply with IFC's standards (for example, the TTC Van Phong Bay Resort project has achieved a score of 90% evaluated by an independent unit), to practical activities at business units such as converting to environmentally friendly materials, reduce the amount of plastic waste throughout the system by 50% in the next 2 years, plan to plant 200,000 trees in 2024. These things are not out of the direction of the Board of Directors to put Environmental, Social and Governance factors at the forefront in governance, business and operation.
TTC Van Phong Bay Resort is located on the beautiful Doc Let beach and the green areas become a highlight to attract visitors.
In addition, in 2024, TTC Hospitality will also focus on restructuring and using capital effectively, as well as coming up with new business strategies, in line with market trends such as focusing on exploiting the inbound market in Korea, Australia, Southeast Asia, etc.
According to the forecast for 2024, the world economic and political situation is still volatile and will have a significant impact on the global economy, especially the tourism industry. Moreover, the increasing and diverse demand for tourism services and products of tourists will also be a big challenge for the tourism industry this year. However, with the foundation of preparation for 2023, TTC Hospitality has contributed to creating great resilience so that in 2024 it is ready to take action and is always in the mood to strive to create attraction through new products and complete services. All of this will contribute to bringing value to customers as well as investors.
TTC Hospitality owns nearly 20 destinations in key tourist provinces and cities across the country and 1 point in Siem Reap City, Cambodia with 4 areas of activity: Accommodation, Entertainment, Convention Center/Restaurant, and Travel.
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