Strategic expansion fueled by opportunity – Supported by Star Asia Group, Polaris Holdings now operates six hotel brands and is scaling up with a goal of 100 hotels and 15,000 rooms by FY3/27. Shifting to a low-risk, fee-based model and a well-balanced fixed and variable lease structure to optimize risk-adjusted returns, its strategic mix of assets is enhancing earnings stability and growth potential. Backed by strong financial foundations and effective capital deployment, Polaris is also expanding into new hotel types, strengthening its platform, and positioning for sustainable, scalable growth amid rising inbound demand. The company also has significant upside potential through further M&A activity, which would add flexibility and scale to its already growing platform.