Minor Hotels reported steady growth in the second quarter of 2026, with core profit rising 2% year-on-year to THB 2.8 billion (approximately $84.3 million), supported by continued strength across Europe and the Americas that helped offset weaker trading conditions in the Middle East.
Core revenue increased 1% to THB 35.8 billion, while
disciplined cost management lifted EBITDA 2% to THB 7.5 billion.
System-wide revenue per available room (RevPAR) was broadly
stable year-on-year, as a 1% rise in average daily rate (ADR) was offset by a
one-percentage-point decline in occupancy to 68%.
Europe & Americas was the group’s strongest-performing
region during the quarter, recording 5% RevPAR growth, driven particularly by
Spain, Central Europe and Italy.
Thailand also delivered pockets of strength, with luxury
properties recording a 7% RevPAR increase on higher rates.
Performance across Asia, the Indian Ocean, Australasia, the
Middle East and Africa was softer overall, with the Middle East facing the
greatest pressure.
For the first half of 2026, Minor Hotels recorded a 3%
increase in system-wide RevPAR, supported by a 4% rise in ADR.
Occupancy declined one percentage point to 66%. Europe &
Americas posted 5% RevPAR growth, while Thailand rose 6% and the wider Asia and
Indian Ocean portfolio increased 10%.
Core revenue for the first half rose 3% to THB 66.2 billion,
while EBITDA increased 2% to THB 10.9 billion.
Core profit declined 4% to THB 2.2 billion, reflecting
significant renovation works at owned properties and unrealised foreign
exchange losses.
Development momentum accelerates
Minor Hotels continued to expand its asset-right strategy
during the quarter, signing hotel management agreements for 20 new properties
and bringing its first-half total to 29 properties, representing 2,165 keys.
The group is now on track to exceed its record 40 signings in 2025.
Recent agreements include Anantara Miami Resort & Residences,
marking Anantara’s US debut, three Anantara properties in India and the group’s
entry into Turkey.
Minor Hotels also announced The Wolseley Hotel New York, the
first property under The Wolseley Hotels brand, and signed Avani Kyoto, marking
the brand’s debut in Japan.
During the first half, the group opened 11 hotels with 1,167
keys, including Tivoli Palazzo 1880 Lecce Hotel, new properties in Slovenia and
Croatia, and NH Hua Hin in Thailand.
The group also rebranded several properties and announced
the evolution of Anantara Vacation Club into Minor Vacation Club as its
vacation ownership business expands into a multi-brand model.
“This was a resilient quarter given the environment we’re
operating in, and it underscores the value of a diversified portfolio,” said
Dillip Rajakarier, Group CEO of Minor International, the parent company of
Minor Hotels. “Our teams across all regions stayed disciplined on rate and
costs, which allowed us to protect profitability even as performance diverged
across markets. Geopolitical tensions, currency volatility and shifting travel
patterns remain factors we’re monitoring closely. We expect demand to stay
uneven through the rest of 2026, and we’ll continue to track forward bookings
for the second half as conditions evolve.”
Minor Hotels said its geographic diversification,
development pipeline and focus on rate integrity and operational efficiency
provide a platform for continued growth despite uneven market conditions
expected during the remainder of 2026. -TradeArabia News Service