Minor Hotels released its financial report for the quarter that ended on 31st March today, 14th May.
The Thai hospitality firm reported a resilient start to 2025, shrugging off seasonal softness and currency volatility to post a four percent year-on-year increase in core revenue, as well as a seven percent jump in core EBITDA.
Buoyed by robust leisure and business demand, Minor Hotels cut its first-quarter core loss to THB 493 million, marking an improvement of 57 percent from 2024.
The sharp turnaround underscores both the earning power of the group’s diverse global portfolio and its disciplined cost controls.
System-wide occupancy across Minor’s global portfolio of more than 560 properties edged up one point to 64 percent while average daily rate (ADR) rose three percent year-on-year, lifting global RevPAR by five percent.
Group CEO Dillip Rajakarier remarked: “Delivering such a strong first-quarter performance in what is traditionally our toughest season shows the power of our trusted brands and the agility of our people. We will keep building momentum through ‘asset right’ expansion and sharper distribution while maintaining strict discipline on operating and capital costs, with a clear focus on further debt reduction to strengthen our balance sheet.”
Performance by market
Thailand continued to outperform, with owned hotels in the country recording a ten percent RevPAR increase as international arrivals accelerated, flight connectivity improved and global exposure thanks to the third season of HBO’s The White Lotus which was filmed across four Minor resorts thereby boosting brand visibility.
Europe also exceeded expectations despite its traditional low season, with owned hotels in the region delivering eight percent RevPAR growth, led by strong trading in Spain, Italy, and the Benelux region, underscoring demand resilience across the continent.
Strategic pricing and stronger direct-booking initiatives, notably the debut of the new Minor Hotels masterbrand in March, combined to sharpen top-line momentum.
Total system sales for the entire portfolio held steady in the first quarter at THB 40.5 billion and rose three percent on a like-for-like basis once foreign-exchange effects and recent openings or exits were stripped out.
Asia, the Indian Ocean, the Middle East and Africa saw a combined two percent uplift in system sales, with the Maldives and Sri Lanka helping to offset pockets of softness elsewhere in those regions.
Hotels owned by Minor but operated by third parties grew like-for-like system sales by six percent, buoyed by robust demand in Africa and Thai resorts, while the mixed-use division which includes Anantara Vacation Club, The Wolseley Hospitality Group, residential, spa, and retail businesses expanded system sales by 16 percent.
