Accessible version Asset World Corp Earnings accelerate with asset value unlocking Reiterate Rating: BUY | PO: 3.60 THB | Price: 3.02 THB Strong RevPAR in July and forward bookings in 2H26 We have positive feedback from the analyst meeting. RevPAR accelerated to 26% YoY in July (vs 3% YoY in 2Q26) with the OCC rate increasing by 8ppt YoY and ADR by 11% YoY. Key growth destinations are Pattaya (+43%), Chiang Mai (+38%), Samui (+21) and Bangkok (+16%). Overall, we expect RevPAR to grow by ~18% YoY in 3Q. In a ...