บทวิเคราะห์ (Research)

LHHOTEL : Largest hotel REIT offers attractive yield LHHOTEL is the largest hotel REIT in Thailand with five prime assets in Bangkok and Pattaya. This allows it to diversify risks by location, customer profile, and revenue structure. Earnings have recovered rapidly and exceeded pre-Covid level, and FY24 DPU could exceed the financial advisor’s estimate of Bt1.1 (1H: Bt0.61 DPU). Higher earnings would lift appraisal value and pull down P/NAV multiple from 1.0x currently. At last close, the REIT offers attractive 10% gross yield and 5.1% real yield based on annualized 1H DPU.