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Saturday 27 January 2024

Minor Hotels plans major expansion

Minor Hotels, the group behind brands including Anantara and Adina, has announced it is targeting more than 200 new openings globally within three years.

The Bangkok-based hotel owner and operator has unveiled details of its commercial strategy for 2024 and beyond, Travel Mole reports.

The target for new hotels would increase the group’s global portfolio by almost 40% from its current count of 540 properties, as well as adding more than 30,000 rooms to its present inventory of almost 80,000.

The rapid acceleration of Minor’s global growth ambition builds on a record financial performance in 2023 and will be driven by a multi-pronged commercial strategy that will see the company enhance its portfolio of brands and overhaul its digital strategy, while pursuing a more balanced mix of management and franchise operating models.

Under its long-standing "asset right" strategy, Minor Hotels owns or leases almost 70% of its global portfolio of 540 hotels.

That percentage is expected to decrease to approximately 50% as the group pursues a more aggressive mix of management and franchise agreement options.

Minor is targeting more than 150 new management agreements over the next three years.

Dillip Rajakarier, Group CEO of Minor International and CEO of Minor Hotels, said: “2023 has been a record year and the figures, both financial and regarding the group’s expansion, confirm this.

"Looking ahead, we intend to increase this pace of openings, expanding our brands within our existing areas of operation and growing our global footprint into new regions in which we are not yet present.”

The Anantara, Avani, Oaks, Tivoli and NH Hotels brands are expected to be the key drivers of portfolio growth.

Image: Anantara Iko Mauritius. Supplied.  

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