Boutique hotel chain Minor Hotels eyes substantial global expansion with 200 new openings within three years and increasing the current count of 540 properties by almost 40 pc. About half of the openings will be in the Asian region whose share is expected to grow from 12 pc to 23 pc.

Bangkok-headquartered luxury hotel chain Minor Hotels is targetting more than 200 new openings globally within three years as a part of its commercial strategy for 2024 and beyond, the company has announced.

In a press statement, Minor Hotels says that the target for new hotels would increase the group’s global portfolio by almost 40 pc from its current count of 540 properties, as well as adding more than 30,000 rooms to its present inventory of almost 80,000.

Notably, Minor says it is targeting more than 150 new management agreements over the next three years, which would grow its share of the overall operating model mix from 19 pc in 2023 to 38 pc by 2026. New franchise agreements are also being targeted, while Minor will continue to grow its hotel investment portfolio.

The hotel says that its acceleration of global growth ambition builds on 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. Simultaneously, it will pursue a more balanced mix of management and franchise operating models.

Minor Hotels says it owns or leases almost 70 pc of its global portfolio of 540 hotels. That percentage is expected to decrease to approximately 50 pc as the group pursues a more aggressive mix of management and franchise agreement options.

“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,” says Dillip Rajakarier, Group CEO of Minor International and CEO of Minor Hotels.

The hotel says it is also looking to shift its geographic mix, targetting a more balanced global distribution of hotels and resorts. Of the more than 200 openings targeted by the end of 2026, approximately half will be in the Asia region, expected to grow from 12 pc to 23 pc of global room inventory.

It says that Europe and the Middle East are expected to add more than 50 properties each. Other regions, such as Australia and New Zealand, the Americas and Africa, will also see new openings across the Minor Hotels brand portfolio. Middle East and Africa to grow from 9 pc to 16 pc by 2026. Europe meanwhile is expected to comprise 45 pc of room inventory, down from the current 60 pc, due to outsized growth in other regions.

The Anantara, Avani, Oaks, Tivoli and NH Hotels brands are expected to be the key drivers of growth with Avani alone expected to more than double its property count to almost 100, the statement adds.

Minor says that as part of a major review and optimisation of its global brand portfolio, it also expects to unveil multiple new brands in 2024 and 2025 to fill unmet consumer demand and provide more tailored options to hotel owners, further enhancing its competitive positioning.

“We are focussed on cross-developing our brands to create a harmonious blend of luxury and accessibility in diverse locations. We are also moving towards a lighter ‘asset-right’ model. While we will always retain direct ownership of key flagship assets, embracing modern trends we’re shifting towards an increased focus on management and also franchised contracts. This strategic move is set to organically expand our global footprint while retaining our strict owner-driven mindset across all management categories,” says Ian Di Tullio, Chief Commercial Officer of Minor Hotels.

The statement adds that Anantara Hotels, Resorts and Spas will continue its strategic growth during 2024 with key openings including Anantara Palais Hansen Vienna Hotel, further strengthening the brand’s European portfolio, Anantara Santorini Abu Dhabi Retreat in the UAE, Anantara Ubud Bali Resort in Indonesia, and Anantara Jaipur Resort, which will represent Anantara’s debut in India.

Minor says that additions to Avani Hotels and Resorts in 2024 will include properties in Frankfurt, Amsterdam and the Seychelles, in addition to the upper upscale brand’s first hotel in China.

It adds that NH Hotels and Resorts has added Minor Hotels’ first properties in Paris this year, with further hotels coming on stream in Mexico and China. Tivoli Hotels and Resorts will continue its accelerated expansion in Europe and the Middle East.

Elewana Collection, a collection of boutique lodges, camps and hotels in iconic locations across Kenya and Tanzania, has recently announced the new Explorer by Elewana collection of upscale safari lodges. The first lodge, Serengeti Explorer, is scheduled to open in March.

Minor Hotels says the forthcoming 12-key Anantara Kafue River Zambia Tented Camp will offer an entirely new luxury experience for guests of Minor Hotels’ flagship brand, while Vietnam-based luxury rail experience The Vietage by Anantara is adding a new Quy Nhon–Nha Trang route to its itinerary from May this year.