Thailand’s Minor International expects its second half earnings to grow by 20% thanks to stronger hotel revenues in the fourth quarter, the Bangkok Post has reported. Minor, which operates hotels under the Anantara, Four Seasons, Marriott and Naadhu brands, reported second half profits of THB1.1 billion (US$32.8 million), up from THB631 million (US$18.8 million) in the same period 12 months previous. Minor’s hotel operations contributed THB815 million (US$24.3 million) of the 2008 total.
Minor plans to add 657 new hotel rooms to its global inventory by 2010, with an investment budget of THB8.5 billion (US$253.1 million). The company will open the 83-pool villa Anantara Phuket in October this year, followed by new openings in Bangkok and the Maldives.
The newspaper has reported Minor’s Chief Financial Officer, Pratana Manomaiphiboon, as saying that falling oil and food prices, plus an easing of Thailand’s political tensions, should help Minor’s growth. She continued to say that company was confident of achieving its targets of 15% revenue growth and 20% net profit growth.
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