TTW
TTW

Europe demand pushes Minor Hotels to record Q3 Profit

Thursday, November 23, 2023

Favorite

hotel

Minor Hotels, a top international hotel owner, investor and operator, has recently stated of THB 1.7 billion record-high third-quarter profit on the back of robust business and leisure demand in Europe and constant retrieval in Thailand.


The outcome highlights a major growth in net profit of 8% on the same time 2022 for the group, which presently in 56 countries has a portfolio of 540 hotels and resorts.


Across the group, an important growth in revenue per available room was recorded with an 11% annual growth reported in the third quarter, exceeding the level of pre-COVID-19 times by 26%. The growth showed operational renewal across all business models of Minor, vigorous demand in global travel and effective sales and pricing strategy.


European hotel business of Minor was mainly a strong performer, attaining its highest-ever third quarter RevPAR perked up by a vigorous demand in leisure and a considerable growth in business travel aided by many large events, trade fairs and corporate conventions.


The increase in international arrivals in Thailand combined with strategic penetration of Minor Hotels’ of non-traditional feeder markets, drove a robust 38% increase in RevPAR in the third quarter against the same time 2022.

Share On:

Subscribe to our Newsletters

« Back to Page

Related Posts

PARTNERS

AHIF
IITM
at-TTW

Subscribe to our Newsletters

I want to receive travel news and trade event update from Travel And Tour World. I have read Travel And Tour World'sPrivacy Notice.

Feb 22
February 22 - February 25
Feb 22
February 22 - February 25
Feb 23
February 23 - February 25
Feb 23
February 23 - February 25