S Hotels and Resorts PCL (SHR) reported an 8% year-on-year increase in service revenue for the first quarter of 2024, totaling 2,742.8 million baht. This growth was driven by newly renovated room offerings, leading to a 24% surge in the Average Daily Rate (ADR). Despite operational achievements in Thailand and the CROSSROADS project, net profit declined by 11% to 111.6 million baht due to factors such as increased interest rates and the operational performance of SO/ Maldives during its ramp-up phase.