Chayut Krailatrattanasiri, Assistant Director of the Research Department at Land and Houses Securities, told the Vision team that the overall outlook for tourism stocks in the fourth quarter of 2026 is clearly quite positive. Although early in the quarter there was pressure from flooding, this is assessed as only a short-term impact. The main supporting factors come from China's Golden Week, a long holiday early in the fourth quarter that has helped drive Chinese tourist arrivals into Thailand higher, with a clear acceleration, as well as Thailand hosting the IMF and World Bank meetings in mid-October, a positive factor in terms of policy and economic activity that directly supports tourism stocks. The research team views hotels as the biggest beneficiaries of the recovery in tourist numbers, expecting fourth-quarter operating results and profits to grow outstandingly. Airlines also benefit, but their upside is limited by still-high oil costs. The three standout hotel stocks named as Top Picks are AWC, with a target price of 20 baht, which the research team is in the process of reviewing upward on structural positives from the establishment of AWR that will help unlock asset value and increase liquidity; ERW, with a target price of 80 baht, which is assessed as still offering upside for investment; and CENTEL, with a consensus target price of 50 baht.
Central Plaza Hotel Public Company LimitedNamed as a Top Pick hotel stock with a 50 baht consensus target, seen as a key beneficiary of the Q4 tourism recovery from Chinese Golden Week arrivals and the IMF-World Bank meetings.
The Erawan Group Public Company LimitedNamed as a Top Pick hotel stock with an 80 baht target, assessed as still offering upside from the expected surge in tourist numbers in Q4.
Asset World Corp Public Company LimitedNamed as a Top Pick hotel stock expected to benefit from higher Chinese tourist arrivals during China's Golden Week and the IMF-World Bank meetings in Thailand.
