Minor Hotels, a hotel owner, operator and investor headquartered in Bangkok, recently announced its 2024 and future development strategy, planning to add more than 200 hotels worldwide within three years.

At present, the Mino Hotel Group has a total of 540 hotels. This development goal will increase the number of hotels under the Group by nearly 40%, and the total number of guest rooms is expected to increase from the current 30,000 to 80,000.

In 2023, the "Mino Hotel Group" achieved record financial performance. With the support of performance growth, the group will accelerate its global growth goals through a multi-pronged business strategy, while further strengthening its brands, comprehensively reforming its digital strategy, and optimizing and balancing its consignment management and franchise operations.

Minoan Hotel Group has always adhered to the "asset right" strategy. Among the 540 hotels worldwide, nearly 70% are owned or leased properties of the group. As the group more actively promotes entrusted management and franchising, it is expected that this proportion will decrease to about 50%. It is worth noting that Minoan Hotel Group plans to sign more than 150 new entrusted management agreements in the next three years, which will increase its share in the overall operation mode portfolio from 19% in 2023 to 38% in 2026. At the same time, the group also aims to obtain new franchise agreements and will continue to expand its hotel portfolio.

In addition, the Mino Hotel Group plans to adjust the geographical mix of hotels and resorts to make its global distribution more balanced. By the end of 2026, about half of the more than 200 hotels planned to open will be located in Asia, with Europe and the Middle East expected to each add more than 50 hotels. Other regions, such as Australia and New Zealand, the Americas, and Africa, will also have new hotels with different brand combinations. According to this strategy, by 2026, Asia's share of the group's global room inventory will increase from 12% to 23%, while the Middle East and Africa will increase from 9% to 16%. Due to significant growth in other regions, Europe's room inventory is expected to decrease from the current 60% to 45%.

Anantara, Avani, Oaks, Tivoli, and NH Hotels are expected to be the main driving forces for hotel growth in the next three years. Among them, the number of new hotels in Avani is planned to more than double to nearly 100. As part of the global brand portfolio review and optimization action, Minor Hotels Group also expects to launch multiple new brands in 2024 and 2025 to fill the unmet customer needs and provide more tailored options for hotel owners to further enhance their competitive positioning.

( Mino Hotel Group is the member of IMTA)

Editor Ⅰ: Zhang Wenwen

Editor Ⅱ: Wu Dan

Editor Ⅲ: Liu Guosong