Minor Hotels, based in Thailand, achieved a record full-year core revenue of THB 121.4bn ($3.4bn) in 2023, accompanied by a significant increase in profit.
Core net profit rose by 450pc compared to the previous year, and overall revenue increased by 25pc with total system sales of THB 157bn (approx. USD 4.4bn).
Key markets, particularly Europe and Thailand, performed well, with revenue growth of 25pc and 65pc, respectively.
The company reported strong demand for leisure and business travel, reflected in a 10pc increase in group-wide average daily rate (ADR) and a 6pc rise in occupancy. RevPAR increased by 22pc, driven by Thailand (73pc growth) and Europe & Americas (26pc increase).
Minor’s brands include Anantara, which counts the Masrker in Dublin amongst its members.
