Skift Take

Minor Hotels, the hotel group behind brands like NH Hotels and Anantara, is going all-in on post-pandemic growth. It plans to increase its hotel portfolio by 36% by the end of 2026.

Sean O’Neill

Minor Hotels reported first-quarter results, reaffirming its plans to add 200 hotels worldwide by the end of 2026 — a 36% increase in its portfolio.

The Thai-based group includes brands like NH Hotels and Anantara, and it generates a majority of the revenue for its parent company, Minor International. The group’s growth plans would add over 30,000 rooms to its existing inventory of 80,000.

Here are highlights from Minor’s earnings report and management discussion.

Plans to grow hotel count

• “Robust forward bookings signals continued strong momentum and another good year ahead,” said Dillip Rajakarier, CEO of Minor Hotels and Group CEO of Minor International. “We expect this growth to continue as we further expand our hotel portfolio and enhance our offerings worldwide.”

• Revenue-per-available room was up 35% from the first quarter of 2019. “Minor Hotels’ successful pricing strategy remained a key contributor,” the company said.

• Some context: Group exec Amir Golbarg told Skift earlier this month that the company plans to add 50 hotels in India within a decade. In an interview with Bloomberg TV, CEO Rajakarier added to the point by saying that Indian inbound and outbound travelers could account for about 20% of the hotel brand family’s annual revenues within a decade.

• “The Indian market has become very strong over the years, especially the high-end segments, which have really taken off,” Rajakarier said.

Hotel outlook

• In Europe, Minor Hotels saw total revenue rise by double-digit growth in April, with advanced bookings in May being 12% above last year.

• In Thailand, room revenues in April were up 15% year-over-year and on-the-books reservations were up 26%. In the first quarter, average occupancy was 81%, on par with pre-pandemic levels.

First-quarter key status on profit

• Minor Hotels reported positive growth in average daily rate, with system-wide figures up 11% year-on-year.

• The company swung to profitability in the quarter, generating about $37 million (1.14 billion Thai baht) in net profit.

• Revenue rose 17% year-over-year to about $820 million (29.6 billion Thai baht).

Accommodations Sector Stock Index Performance Year-to-Date

What am I looking at? The performance of hotels and short-term rental sector stocks within the ST200. The index includes companies publicly traded across global markets, including international and regional hotel brands, hotel REITs, hotel management companies, alternative accommodations, and timeshares.

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