Minor Hotels’ core revenue in Q1 reached THB 29.6 billion, marking a substantial 17% year-over-year gain and surpassing budget projections. This robust performance was driven by the continued strength in revenue generation, with healthy rate growth recorded across the group’s hotel portfolio, particularly in Europe and Thailand. Minor’s owned and leased hotels portfolio contributed 80% of core hotel and mixed-use revenues in the first quarter, up 21% year on year. Global rate growth drives profitabilityMinor Hotels reported positive growth in Average Daily Rate (ADR), with system-wide Q1 figures up 11% year-on-year. Minor Hotels is targeting a rapid expansion of its hotel network, with a target of 200 new hotels by 2026.

Source: Ethiopian News May 21, 2024 21:47 UTC