Tourism Boom Drives Record Gains For Minor Hotels

Minor Hotels has announced record-breaking financial results for 2024, reporting a 16 increase in net profit to THB5.1billion 144.8million and a 9 rise in revenue to THB134billion 3.8billion. The performance was driven by a strong global tourism rebound, particularly in Thailand and Europe.

The hotel group, which operates over 560 properties in 58 countries, saw its fourth-quarter profit climb 14 year-on-year to THB2.2billion 62.9million. Occupancy across the portfolio rose to 68, marking a two percentage point improvement.

Thailand was a key driver of growth with occupancy reaching 70 and revenue per available room RevPar rising 17 due to expanded airline routes and targeted marketing efforts. In Europe and the Americas, resilient leisure and business travel drove a 9 RevPar increase with standout performances in Spain, Central Europe, Benelux and Italy.

Minor Hotels is well-positioned to capitalise on the ongoing global travel rebound and accelerate growth in 2025 and beyond, said Dillip Rajakarier , CEO of Minor Hotels and Group CEO of Minor International. Our asset-right strategy and disciplined financial management will continue to drive growth and create value for our stakeholders.

Minor Hotels expanded its global footprint by adding 30 new properties in 2024, including the NH Collection Helsinki Grand Hansa in Finland and the Anantara Jewel Bagh Jaipur Hotel in India. The company anticipates further growth with property launches in Singapore, Japan and Saudi Arabia in 2025.