Minor Hotels, the hotel group behind brands such as NH Hotels and Anantara, is focusing on expanding its portfolio in the post-pandemic era. The company plans to increase its hotel portfolio by 36% by the end of 2026, adding 200 hotels worldwide. The group, based in Thailand, is a major revenue generator for its parent company, Minor International. With plans to add over 30,000 rooms to its existing inventory of 80,000 rooms, the company is optimistic about its future growth.
During the first quarter, Minor Hotels reported positive results, reaffirming its plans for significant growth. Revenue-per-available room was up 35% from the first quarter of 2019, attributed to the group’s successful pricing strategy. CEO Dillip Rajakarier expressed confidence in the company’s momentum and future growth trajectory, emphasizing plans to expand the hotel portfolio and enhance offerings globally. The company’s growth plans include a focus on adding 50 hotels in India within a decade, with the Indian market playing a significant role in the brand family’s annual revenues.
In terms of the hotel outlook, Minor Hotels experienced positive developments in various regions. In Europe, total revenue saw double-digit growth in April, with advanced bookings in May exceeding last year’s numbers by 12%. In Thailand, room revenues were up 15% year-over-year in April, with on-the-books reservations increasing by 26%. Additionally, the average occupancy rate in the first quarter reached 81%, matching pre-pandemic levels. These positive indicators signal a strong recovery for the company’s hotels in different markets.
In the first quarter, Minor Hotels saw positive growth in average daily rate, with system-wide figures up 11% year-on-year. The company achieved profitability during this period, generating approximately $37 million in net profit. Revenue also increased by 17% year-over-year, reaching around $820 million. These financial metrics illustrate the company’s resilience and successful strategies in navigating the challenges posed by the pandemic and its commitment to growth and expansion in the future.
The company’s strategic focus on adding new hotels and enhancing offerings reflects its confidence in the recovery and growth potential of the global travel and hospitality industry post-pandemic. With a strong performance in the first quarter, Minor Hotels is well-positioned to achieve its expansion goals and capitalize on emerging opportunities in key markets. The positive outlook for the company’s various brands, including NH Hotels and Anantara, indicates a promising future for Minor Hotels as it seeks to enhance its presence and offerings worldwide.
Overall, Minor Hotels’ plans for substantial growth in its hotel portfolio by 2026 demonstrate its commitment to long-term expansion and success in the post-pandemic travel and hospitality landscape. With a focus on adding hotels in key markets like India and maintaining strong performance in existing regions, the company is poised for continued growth and profitability. The positive financial results and outlook for Minor Hotels underscore its resilience and strategic vision in navigating the challenges of the pandemic and capitalizing on opportunities for future growth and development.
