Thailand Privilege Card targets B1bn in revenue
Thailand Privilege Card Co (TPC), the operator of Thailand Elite Card, expects to increase revenue to 1 billion baht within the next three years after the launch of four new cards and appointing Henley & Partners as its global sales agent.
The four new cards are Elite Family Excursion for a five-year membership costing 800,000 baht, Elite Family Alternative for a 10-year membership at 800,000 baht; Elite Privilege Access for a 10-year membership at 1 million baht and Elite Superiority Extension for a 20-year membership at 1 million baht.
President Pruet Boobphakam voiced confidence that the four new membership cards along with the new marketing strategy will boost TPC's revenue to achieve the goal.
The company expects revenue to grow 10% to over 400 million baht with the addition of 678 new memberships this year.
Mr Pruet said Europeans and Americans are TCP's main focus, as they are seen as high-spending tourists in Thailand.
Tourism and Sports Minister Kobkarn Wattanavrangkul said the four new Thailand Elite Card's membership cards will attract high-spending foreigners and will indirectly stimulate Thailand's economy as they will invest more in real estate, luxury cars and infrastructure investment.
"Thailand Elite Card might bring in a small amount of revenue to the country compared to other businesses," she said. "But if we look closely at it, we will find that the privilege card can indirectly entice high-end travellers to return to Thailand and our focus is to get tourists to revisit."
TPC's privilege cards will help the country achieve the 2017 tourism development goals in five aspects: medical and wellness tourism, wedding and romance tourism, maritime tourism and connect Asean tourism.
TPC plans to appoint Henley & Partners as its global sales agent this month to sell its membership cards globally.
"The partnership with Henley & Partners is expected to help us achieve our revenue target and draw more foreign customers," Mr Pruet said.
Henley & Partners has 28 offices around the world.
This move is expected to stimulate Thailand's tourism and boost Thailand Elite Card's income to 1 billion baht within 3 years.
TPC had 4,037 Thailand Elite Card members last year. It posted a net profit of 195 million baht, increasing 82% from 2015.
Last year, Thailand Elite Card members entered Thailand 14,768 times and were expected to contribute more than 1.7 billion baht in revenue to the country.