Thailand-based hotel owner and operator Minor Hotels has announced plans to open more than 200 new properties globally within the next three years.
This expansion would increase the group's portfolio by almost 40% from its current 540 properties, adding over 30,000 rooms to its nearly 80,000-room inventory.
Currently, Minor Hotels owns or leases almost 70% of its hotels, a figure expected to decrease to 50% as the company adopts a more aggressive approach.
Minor Hotels also aims to grow its management agreement share from 19% last year to 38% by 2026, targeting more than 150 new agreements.
The company added that it will also seek new franchise agreements and continue to grow its hotel investment portfolio.
A shift in geographic focus is also part of the strategy. The Asia region is expected to see half of the new openings, while Europe and the Middle East are anticipated to add over 50 properties each.
Other regions, including Australia, New Zealand, the Americas, and Africa, will also see new hotels under the Minor Hotels brand.
The company aims for a more globally balanced presence, with Asia's room inventory projected to grow from 12% to 23%, and the Middle East & Africa from 9% to 16% by 2026.
Europe's share is expected to decrease from 60% to 45% due to growth in other regions, the company said.
Growth is anticipated to be fueled by its brands, which include NH Hotels, Avani, Oaks, Tivoli, and Anantara. Avani is predicted to expand its property count to over 100.
Minor Hotels also plans to introduce new brands in 2024 and 2025 to meet consumer demand and offer tailored options to hotel owners.
Key openings for Anantara this year include properties in Vienna, Abu Dhabi, Bali, and Jaipur, marking Anantara's debut in India. Avani will expand to Frankfurt, Amsterdam, the Seychelles, and China.
NH Collection will celebrate its tenth anniversary with new openings in Thailand, Qatar, Finland and Portugal while NH Hotels & Resorts has entered Paris, with more properties to follow in Mexico and China.
Tivoli Hotels & Resorts will continue its European and Middle Eastern expansion, and nhow Hotels will debut in Peru with nhow Lima, and in Italy with nhow Rome.
The Elewana Collection has announced the new upscale safari lodges, Explorer by Elewana, with the first opening in March.
Minor International Group CEO and Minor Hotels CEO Dillip Rajakarier said: “2023 has been a record year and the figures, both financial and regarding the group’s expansion, confirm this.
“Looking ahead, we intend to increase this pace of openings, expanding our brands within our existing areas of operation and growing our global footprint into new regions in which we are not yet present.”
Last month, Minor Hotels partnered with Agro Safari to introduce safari experience in Zambia with an Anantara-branded tented camp.
