The hotel group says that it added 30 new properties and over 3,000 keys in 2024
Minor Hotels, a global hospitality group headquartered in Thailand announced its full year results for 2024, reporting a 16 pc jump in net profit to THB 5.1 billion and a 9 pc rise in total revenue to THB 134 billion.
In a statement, Minor Hotels says that its group-wide occupancy reached 68 pc, marking a 2pc point uptick from the previous year, with Thailand leading the way with a five-point gain to 70 pc. The hotel group’s average daily rate (ADR) across the global portfolio also rose 6 pc year-on-year, while revenue per available room (RevPar) climbed 9 pc overall. It also recorded a profit of THB 2.2 billion, representing a 14 pc year-on-year increase in the fourth quarter of 2024.
The statement adds that in Thailand, the hotel group witnessed a 17 pc RevPar increase driven by expanded airline routes and targeted marketing efforts, which attracted high-quality travellers from North America, Asia, Europe, and the Middle East.
Dillip Rajakarier
Performance in in Europe and the Americas also remained robust with a 6 pc ADR increase in the region in 2024, contributing to 9 pc RevPar growth that was led by properties in Spain, Central Europe, Benelux and Italy, according to the statement.
“Minor Hotels is well positioned to capitalise on the ongoing global travel rebound and accelerate growth in 2025 and beyond. Our asset-right strategy and disciplined financial management will continue to drive growth and create value for our stakeholders. With a reinforced financial position, we are set to innovate, expand profitably, and capture new opportunities, mostly capital-free, as we continue to scale our global footprint,” says Dillip Rajakarier, CEO, Minor Hotels and Group CEO, Minor International.
The hotel group says that it added 30 new properties and over 3,000 keys in 2024, propelling its global portfolio past 560 hotels and 81,000 keys. By the end of 2027, Minor Hotels aims to expand its worldwide portfolio to 850 properties.
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