Minor Hotels reports stronger profitability in Q3 despite softer revenues

Minor Hotels recorded a solid financial performance in the third quarter of 2025, achieving higher profitability despite a slight decline in core revenue. The group’s results reflect continued operational efficiency and disciplined financial management across a global portfolio of more than 600 properties.

For the quarter, Minor Hotels reported a core profit of THB 1.85 billion (approximately USD 57 million), a 7% increase year-on-year. Core revenue reached THB 33.5 billion, marking a 2% decline compared with the same period last year.

The revenue decrease is partly linked to ongoing investment in several of the group’s flagship luxury assets. Upgrades at Anantara Siam Bangkok Hotel, Anantara Hua Hin Resort and Anantara Golden Triangle Elephant Camp & Resort are part of Minor Hotels’ long-term strategy to enhance brand positioning and asset value. These upgrades contributed to softer results in Thailand, where occupancy dropped by four percentage points. However, this was offset by stronger performance in other regions, including a five-percentage-point lift in the Maldives and stable trading across Europe.

Despite revenue pressures, profitability improved due to stronger margins. Minor Hotels achieved an 18% reduction in financing costs and a 4% quarterly decrease in operating expenses, reflecting ongoing efforts to streamline operations. Systemwide occupancy increased one percentage point to 70%, while RevPAR rose 3% year-on-year, supported by notable growth in the Maldives (+23%), Australia and New Zealand (+6%), and Europe and the Americas (+2%). ADR increased 1% overall, with the strongest growth in Asia and the Indian Ocean (+10%).

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“In the face of challenging global operating conditions, Minor Hotels has again delivered strong profit growth through disciplined cost control and prudent financial management,” said Dillip Rajakarier, Group CEO of Minor International (SET:MINT), the parent company of Minor Hotels. “This performance underscores the resilience of our business model and the strength of our diversified portfolio, as we continue to optimise our asset-right strategy, sharpen rate and mix management, and maintain focus on high-margin business segments.”

Results for the first nine months of 2025 indicate a similar trend. Core profit reached THB 4.1 billion, up 32% year-on-year, while core revenue stood at THB 97.6 billion, down 3%. EBITDA remained stable. Occupancy for the period rose one percentage point to 68%, with declines in Thailand offset by stronger occupancy in Europe (+2 pp) and the Maldives (+11 pp). RevPAR increased 3% year-to-date, supported by gains in the Maldives (+13%), the Middle East and Africa (+5%), and Europe (+4%).

Looking ahead, Minor Hotels plans to maintain its focus on margin expansion, portfolio optimisation and strategic investment, guided by its asset-right development model. The group continues to prioritise high-yield segments and operational resilience as it navigates a mixed global trading environment.

The article Minor Hotels reports stronger profitability in Q3 despite softer revenues first appeared in TravelDailyNews International.

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