Latest news with #MinorInternational
The Sun
3 days ago
- Business
- The Sun
Launch of premium yachting activities enhances Desaru Coast's appeal
PETALING JAYA: Desaru Coast's introduction of premium yachting experiences marks a strategic enhancement to its luxury tourism portfolio – an initiative welcomed by Minor International, a global leader in hospitality and real estate. Following a landmark agreement between Desaru Coast and ONE°15 Marina, a premier luxury waterfront marina based in Singapore, Malaysia's leading integrated resort destination is poised for a strategic expansion of its maritime infrastructure and high-end charter services. As a premier leisure and lifestyle hub, Desaru Coast spans 4,000 acres along the southern coastline of Johor, featuring luxury resorts, championship golf courses, a waterpark, premium residences – including Anantara Desaru Coast Residences – and a ferry terminal connecting it to Singapore. Through the new partnership, ONE°15 Marina Desaru Coast will manage both wet and dry berths at the Desaru Coast Ferry Terminal, introducing curated sailing activities for visitors and reinforcing Desaru Coast's appeal to both holidaymakers and investors. The initiative reflects increasing investor confidence in Desaru Coast. It also highlights the strengthening economic ties between Singapore and Johor, supported by the upcoming Johor-Singapore Special Economic Zone (JS-SEZ), where Desaru Coast has been identified as a flagship development area. With a focus on cutting-edge industries, the zone is expected to create 20,000 skilled jobs within its first five years and facilitate the expansion of 50 projects, driving demand for premium real estate. Strategically located within Desaru Coast, Minor International's Anantara Desaru Coast Residences is well positioned to capitalise on the momentum from the JS-SEZ development and the launch of premium yachting experiences, delivering an exceptional lifestyle proposition for discerning homeowners and visitors alike. 'With exclusive access to premium marina facilities and curated sailing experiences, residents and visitors alike can enjoy world-class hospitality, blending refined living with dynamic maritime adventures. This partnership has the potential to attract luxury segment customers, both international and local, to our property,' Minor International's chief operating officer of lifestyle and real estate, Micah Tamthai, said in a statement. The initiative aligns with Desaru Coast's long-term strategy to enhance tourism infrastructure by leveraging existing assets such as the ferry terminal. Additionally, the partnership is expected to enhance maritime access, further solidifying Desaru Coast's position as a premier gateway for exclusive seaborne travel and leisure experiences.
Skift
13-05-2025
- Business
- Skift
Minor Hotels Boosted by Maldives as Thailand Growth Slows and Europe Posts Loss
A strong showing in the Maldives gave Minor just enough to break its Q1 losing streak. Minor International posted a core profit of THB 50 million (about $1.5 million) in the first quarter of 2025, its first for the period since acquiring NH Hotel Group in 2018. The result was buoyed by strong performance in the Maldives even as it faced slowing growth in Thailand and continued losses in Europe. Revenue for Minor's core business was down 3% due to a stronger Thai Baht. The company said that revenue would have increased 4% without currency effects. Core EBITDA rose 1%. Minor Hotels operates over 560 hotels and resorts across six continents under eight brands: Anantara, Avani, Elewana, NH, NH Collection, nhow, Oaks, and Tivoli. 1. Maldives drives the quarter with luxury demand: The Maldives led performance, with revenue per available room [RevPAR] rising 18% year-over-year. "The average occupancy rate rose significantly to 68% from 49% in the same quarter last year, thanks to effective sales initiatives focused on experiential offerings that attracted guests to the properties," wrote Minor International CFO Chaiyapat Paitoon in the company's earnings release. Revenue from the island destination was up 5% year-over-year. 2. Europe improves but remains a drag: Despite an 8% rise in RevPAR and 64% occupancy, Minor's European hotels reported a quarterly loss. Minor attributed the loss to seasonal factors, noting that many European properties operate below breakeven in first quarter. The company opened NH Collection Alagna Mirtillo Rosso in Italy as part of its asset-light strategy. 3. Thailand slows sharply from last year: Thailand posted RevPAR growth of 10% year-over-year in Q1 2025, a drop from the 25% surge recorded in the same quarter a year earlier. Despite the slowdown in RevPAR growth, hotel revenue in Thailand increased by 6%. The revenue growth came even as Minor's equity-owned room count in the country fell 6% year-over-year, and rate increases helped offset foreign exchange pressure and a tough year-over-year comparison. The company also opened NH Bangkok Asoke during the quarter, a conversion project that marks continued brand expansion for NH in Asia. 4. Australia hit by cyclone and softer demand: Minor's Management Letting Rights (MLR) portfolio in Australia and New Zealand recorded a 6% RevPAR decline, hurt by Cyclone Alfred and a high comparison base in last year's first quarter. The company opened two new Oaks-branded properties in Geelong, Victoria. 5. Management fee income climbs on new openings: Minor continued to grow its management income with five new hotels added during the quarter, in Italy, Thailand, Tanzania, and Australia. Management fee income rose 16% year-over-year to just under THB 800 million, accounting for 3% of hotel and mixed-use revenue. 6. Q2 is off to steady start: The company said April RevPAR trends remain positive. "Positive growth in RevPAR has been recorded for April, particularly across our key markets in Europe (low single-digit growth), Thailand (high single-digit growth), and the Maldives (double-digit growth)," said Paitoon. Minor International CEO Dillip Rajakarier will appear onstage at Skift Asia Forum this week in Bangkok.
Fashion Value Chain
22-04-2025
- Business
- Fashion Value Chain
Minor Hotels Announces the First Avani Branded Resort to be Built in India
Minor Hotels announces the arrival of the Avani Hotels & Resorts brand in India with Avani+ Sunray Beach Visakhapatnam Resort , an exclusive new-build resort and branded residences development set along the scenic Sunray Beach in Visakhapatnam, India. The project will feature 117 hotel rooms and 58 branded residential villas, alongside a suite of premium amenities designed to set a new benchmark for hospitality in the region. The announcement comes as Minor Hotels significantly accelerates its expansion strategy in India, targeting 50 new openings in the country over the next decade. Avani+ Sunray Beach Visakhapatnam Resort – Signing Present at the Avani+ Sunray Beach Visakhapatnam Resort signing were Puneet Dhawan, Head of Asia, Minor Hotels; Dillip Rajakarier, Group CEO of Minor International and CEO of Minor Hotels; Sh. Kandula Durgesh, Honorable Minister of Tourism of Andhra Pradesh; Ajay Jain, Principal Secretary of Andhra Pradesh Tourism; I. A. Raja Varma, Managing Director of Sunray Green Space Pvt Ltd. Slated for completion by 2028, the development promises an elevated lifestyle experience for both guests and residents. Highlights include three distinctive F&B venues including an all-day dining restaurant, a vibrant specialty restaurant and a stylish bar, as well as a versatile banqueting hall designed for memorable gatherings and celebrations. Additional facilities will include an AvaniSpa, an expansive swimming pool, a beach bar and an AvaniFit gym. A key feature of the leisure offering will be the nine-hole par-three golf course, perfect for both beginners looking to improve their short game and experienced golfers seeking a more relaxed, time-efficient round. Located on a 25.5-acre site in Bhogapuram, the development is strategically situated near the upcoming Alluri Sitarama Raju International Airport, set to enhance regional connectivity upon completion in 2026. The proximity to both the Bay of Bengal and National Highways 16 and 26 further positions this project as a prime destination for both domestic and international travellers. Avani+ Sunray Beach Visakhapatnam Resort is poised to meet the growing demand in Visakhapatnam, a city renowned for its thriving commercial sector, MICE business, and emerging leisure tourism. With the rapid development of Information Technology Special Economic Zones and the area's infrastructure enhancements, the resort will provide an exceptional accommodation option for both business and leisure visitors. The project is developed by Sunray Green Space Pvt Ltd, a renowned real estate developer in Visakhapatnam. Mr. I.A. Raja Varma, the founder and Managing Director of Sunray Green Space, has been recognised for his commitment to excellence in the region, with multiple awards from the Government of Andhra Pradesh for sustainable and eco-friendly tourism projects. Dillip Rajakarier, Group CEO of Minor International and CEO of Minor Hotels commented, 'We are pleased to announce the launch of this significant new project in Visakhapatnam. The Avani brand will offer an exceptional blend of contemporary design, upbeat service and elevated experiences for both hotel guests and residents alike. We look forward to bringing our expertise in delivering premium hospitality to this dynamic market.'
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The Independent
26-02-2025
- Business
- The Independent
Parent company of The Wolseley restaurant posts record profit growth
The owner of London restaurant The Wolseley, Minor International (Mint), posted a strong set of results earlier this month which included record net profit of 43 per cent. A return to high demand in both global travel and the strength of the hospitality sector drove results for the Thai-based group, who own a series of brands in hotels and restaurants. Mint bought the group which owned The Wolseley in an auction in 2022, adding the famous eatery to its listings. The parent company has two sides to the business, with restaurants and food sales locally seeing eight and 12 per cent increases in Thailand and Singapore respectively. On the hospitality side, Mint detailed 'strong momentum' of their hotels, with Spain their strongest performing region followed by central Europe, Benelux and Italy. Mint added 30 new hotels in 2024, comprising over 3,000 rooms to their roster, and say they are targeting between six and eight per cent CAGR between 2024 and 2027, along with a global portfolio expansion to 850 hotels and 4,000 restaurants by the latter year. Group CEO Dillip Rajakarier explained the company sought to continue their growth momentum, saying, 'Mint's record performance underscores the strength of our business model and strategic execution. 'With a significantly stronger balance sheet, we are well-positioned to accelerate growth in 2025 and beyond. We will continue to capitalise on global tourism trends, expand our asset-light model and drive innovation across our hospitality and restaurant businesses. 'Our focus remains on delivering sustained profitability and maximizing long-term shareholder value as we scale our global footprint.'
