Minor Hotels Reports Record-Breaking 2024 Results, Posts THB 5.1 Billion Net Profit

Minor Hotels has delivered its strongest financial performance to date, reporting a 16% increase in net profit to THB 5.1 billion and a 9% rise in total revenue to THB 134 billion for 2024. The record-breaking results were driven by robust global tourism demand, exceptional performance across Thailand and Europe, strategic expansion, and disciplined financial management.

The hospitality giant, which operates more than 560 hotels across 58 countries, also posted a 14% year-on-year increase in fourth-quarter profit, reaching THB 2.2 billion, reflecting strong pricing strategies, operational efficiency, and the continued success of its 'asset-right' growth strategy.

Across its global portfolio, occupancy reached 68%, while Average Daily Rate (ADR) increased by 6% and Revenue per Available Room (RevPAR) grew 9% compared to the previous year.

Thailand emerged as the company's strongest-performing market, recording a 17% increase in RevPAR, supported by expanded airline connectivity and strong demand from travellers across North America, Europe, Asia, and the Middle East. Europe also delivered impressive results, with solid leisure and business travel driving growth across Spain, Italy, Central Europe, and the Benelux region.

Commenting on the results, Dillip Rajakarier, CEO of Minor Hotels and Group CEO of Minor International, said the company is well positioned to capitalise on the continued global travel recovery. He highlighted the group's disciplined financial management and asset-right strategy as key drivers for future growth while emphasizing expansion through capital-light opportunities.

During 2024, Minor Hotels expanded its global footprint by adding 30 new hotels and over 3,000 rooms, including landmark openings such as NH Collection Helsinki Grand Hansa in Finland, Anantara Stanley & Livingstone Victoria Falls Hotel in Zimbabwe, and the debut of the Anantara brand in India with Anantara Jewel Bagh Jaipur Hotel.

Looking ahead, the company expects further growth through new hotel openings in Singapore, Japan, and Saudi Arabia, while anticipating increased tourism to Thailand following the global popularity of HBO's The White Lotus, which featured several Minor Hotels properties.

With ambitious plans to expand its global portfolio to 850 properties by 2027, Minor Hotels continues to strengthen its position as one of the world's fastest-growing hospitality companies.

#MinorHotels #HospitalityNews #HotelIndustry #Tourism #GlobalHospitality #HotelBusiness #TravelIndustry #LuxuryHospitality #HotelExpansion #FinancialResults #BusinessGrowth #ThailandTourism #EuropeTravel #Anantara #NHHotels #HotelDevelopment #HospitalityLeadership #TravelNews #IHN #HospitalityUpdates