Latest news with #MinorInternational
Bangkok Post
05-08-2025
- Business
- Bangkok Post
Minor International Wins FinanceAsia Mid-Cap Honours
Hong Kong, August 4, 2025 – Minor International Public Company Limited (MINT) has been named Best Mid-Cap Company Thailand at the FinanceAsia Awards 2025, a premier recognition honouring top-performing listed companies across the Asia-Pacific region. The award, determined through votes from institutional investors and financial analysts, affirms MINT's robust financial stewardship, operational resilience, and disciplined execution of strategic priorities amid a dynamic global environment. This accolade reflects MINT's continued success in driving sustainable shareholder value through its asset-right growth model, targeted balance sheet deleveraging, and a diversified brand portfolio across hospitality and food service sectors. The company's strong international footprint—spanning over 60 countries—combined with a strategic emphasis on capital efficiency and ESG integration, has positioned MINT to navigate macroeconomic volatility with agility and confidence. MINT's consistent performance, including enhanced operational margins, cost discipline, and brand synergies, resonated with Asia's investment community as a benchmark for mid-cap excellence. The company's long-term growth strategy is anchored in selective expansion, digital transformation, and embedding sustainability across operations to ensure competitive resilience. Dillip Rajakarier, Group CEO of Minor International, remarked: 'This recognition affirms the strength of our vision and strategy, disciplined execution, and most importantly our global team. As we look ahead, we remain focused on driving sustainable growth through asset-light expansion, innovation, and ESG leadership—continuing to deliver on our promises and scale MINT as a global force in hospitality and lifestyle.' Looking forward, MINT is poised to scale high-potential markets in hospitality and food, deepen its ESG leadership, and leverage digital platforms and consumer insights to reinforce its position as a global leader in hospitality and lifestyle.
The Independent
12-07-2025
- Business
- The Independent
The Wolseley's global takeover is thriving. Investors and Keir Starmer should take note
There was consternation among London restaurant -goers when their favourite venue, owned by their favourite restaurateur, was acquired three years ago by a Thai-based group. It was feared The Wolseley, adored by many, including Lucian Freud (whose regular corner table was covered with a black cloth and a single candle following his death) and AA Gill, would be no more. It would not be the same without Jeremy King, its co-founder, greeting regulars and attending to every last detail. But fears The Wolseley would lose its cachet have proved groundless. The restaurant and its siblings, including The Delaunay, Colbert and Brasserie Zedel, plus a new Wolseley in the City, are thriving. The Wolseley remains as it was, known far beyond London for its 'Parisian cafe meets Viennese dining room' menu, spectacular but intimate room, and warm ambience. The numbers speak for themselves. Last year, the original Wolseley sold 21,803 schnitzels, 7,542 pancakes, 45,750 afternoon teas and 29,837 oysters. As a group, the restaurants managed 18,358 champagne bottles and 91,306 glasses, 99,013 schnitzels, 15,755 pancakes and 49,104 afternoon teas. Wolseley parent company, Minor International, turned in thumping annual results, including record net profits. Now Minor is taking the business international, and going further still, by opening The Wolseley Hotels. Proof that no single person is bigger than the brand, and evidence that what they created is capable of developing and expanding into a money-making machine Minor is so-called because it was founded by entrepreneur Bill Heinecke when he was underage. American-born Heinecke started in business in Bangkok at the age of just 14, in 1963, while he was still in high school. He persuaded the editor of the Bangkok World newspaper to let him write a column on go-karting, securing advertising space alongside it. This initiative was so successful that he took over the paper's advertising manager position. When Heinecke left school at 17, he decided he wanted to set up on his own. He borrowed $1,200 from a backstreet moneylender to register his first two companies: Inter-Asian Enterprise, which provided office cleaning services, and Inter-Asian Publicity, an advertising company. The holding company was Minor Holdings – for the first year, his mother had to sign the paychecks on his behalf. Over nearly six decades, he grew Minor into a major powerhouse, encompassing hospitality (Minor Hotels), food (Minor Food) and lifestyle retail. Pivotal was the 2018 acquisition of Spain's NH Hotel Group, tripling Minor's hotel portfolio and propelling it to leading world hospitality player. Today, Minor owns 560 properties with 85,000 rooms across 57 countries. They will be joined by four new brands – The Wolseley Hotels, Colbert Collection, Minor Reserve Collection and iStay Hotels – to help Minor achieve its aim of reaching 850 hotels and 4,000 restaurants by the end of 2027. It's all part of Heinecke's bold vision. When asked which was his best decade, he is quick to answer: 'My best decade has yet to come.' Ian Di Tullio, chief commercial officer of Minor Hotels, said the Wolseley Hotels will 'take multiple cues' from the restaurant in Piccadilly. 'Like the restaurant, the hotel will be a place where formality melts away, replaced by friendly familiarity and glamour without pretension. Rituality and attentiveness are at the heart of the guest experience, where every guest will be treated to our effortless balance of class and etiquette, from their welcome by The Wolseley Hotel's door person to the stay rituals delivered by a team passionate about the craft of hospitality.' Minor is looking to open Wolseley Hotels in New York, Paris, Singapore, Hong Kong and Dubai and other key centres. London is also earmarked as 'a fantastic location and a natural fit'. Di Tullio said: 'We will be very particular and deliberate about where we open The Wolseley Hotels properties, growing its footprint slowly with partners who share our vision for the brand experience. This will be a carefully curated rollout, with each new location thoughtfully chosen to be a perfect match for the brand's character and values.' He added: 'Brands are a brilliant way to endorse existing customers and find new ones.' He makes the point, though, that it does not apply to all. 'The Wolseley is an iconic brand with soul and character, and an individual creativity – there are very few of them, which is why we want to start a new hotel portfolio with our existing brands.' Nevertheless, he has a product – Britain has a product – that is internationally transferable, provided standards are maintained. 'There is pure theatre, pleasurable impact for anyone entering The Wolseley and we want to celebrate and to share that special sense of luxury with a new global audience. We will do that respectfully and carefully and with passion.' So, The Wolseley brand sustains and is expanding. Rather than the world taking over a uniquely British label, that British label is taking over the world. It shows what Britain is capable of, with an injection of self-belief and commercial strength and savvy. What began as a car showroom was, through imagination and flair, transformed into an exceptional restaurant, then widened. Now it's to be raised to another level, across the globe, in hotels. Credit to Minor and Heinecke for having the idea and for going where others have not. You realise that a Paris or Brussels restaurant could not make the leap, they just don't have that same internationally-admired British style. We could make so much more out of this as a country, as an economy. It does make you wonder what other loved and homegrown brands could achieve with the application of similar faith and a fair wind. Investors, brand proprietors and Keir Starmer and his teams devoted to exporting British soft power, please note.
Yahoo
08-07-2025
- Business
- Yahoo
Europastry acquires majority stake in Thailand's Art of Baking
Spain-based bakery giant Europastry has acquired 60% of Art of Baking in Thailand. Europastry, which put its IPO plans on hold last year for a second time, said the stake was taken from Minor International Public Co. and Srifa Frozen Food as part of a strategic partnership. Both of those entities will each retain a 20% interest in Art of Baking. Europastry said in a statement the deal reinforces the bakery group's presence in South East Asia, a 'key market with high growth potential, and positions the company to accelerate its expansion in the APAC region'. Art of Baking is based in Bangkok and produces ready-to-eat and frozen bakery products. Jordi Gallés, CEO of Europastry, said: With this operation, we are expanding our network to more than 90,000 customers worldwide. 'Art of Baking's experience and track record, coupled with our know-how, will allow us to continue generating value and offering the best proposition to our customers.' Founded in 2018, Art of Baking produces four main product categories: sweet pastries (such as croissants, puff pastries and Danish dough), savoury pastries, flatbreads and pizza bases. Its customers include local retail and foodservice chains. The Bangkok plant has an annual production capacity of 15,000 tonnes with room for expansion. It exports to countries such as Japan, the Philippines and Singapore. Peerawat Jentrakulroj, CEO of Art of Baking, said in a separate statement: 'This partnership represents a transformative step for Art of Baking as it empowers us to solidify our position as the key production hub serving our customers in the South East Asian bakery sector. 'Confident in this partnership, we believe together we can capitalise on the significant opportunities ahead and continue to deliver exceptional value to our shareholders and partners.' The Thai group Minor International operates more than 3,000 restaurants, hotels and bars in South East Asia, according to Europastry. Srifa Bakery, Art of Baking's original founder, operates a network of more than 30 bakeries in Thailand. Europastry said the addition of more than 200 employees will enable the business 'to strengthen its industrial and commercial footprint in Thailand, and to access new opportunities in the dynamic South East Asian market together with two prestigious partners'. Dillip Rajakarier, the CEO of Minor International, said in the statement: 'This alliance represents a bold step forward in our growth journey to deliver unparalleled quality and innovation to consumers regionally, generating strong synergies to maximise returns for all partners. 'By combining Europastry's cutting-edge technical expertise and extensive global customer network with our leading R&D capabilities, we aim to accelerate the innovation of our products, expand market reach, and production capabilities.' "Europastry acquires majority stake in Thailand's Art of Baking" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
The Sun
30-05-2025
- 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.
