Minor International Pcl, one of Asia’s largest hospitality groups, aims to add 250 properties to its global hotel portfolio over the next three years, as the revival of outbound Chinese travellers underpins the strong recovery of the global tourism sector.
The expansion, most of which will kick in after this year, comes as Bill Heinecke, chairman of the Bangkok-based company, said he expects “extraordinary” 2023 results and an even better performance this year. The Thai government’s tourism-promotion measures such as visa waivers and an extension of operating hours for entertainment venues have been crucial to growth in Minor’s home market.
Bookings in Thailand jumped by about 30% in the first two months of 2024 from the same period last year, with Chinese reservations about doubling. Minor currently has 530 hotel properties in nearly 60 countries, with most of its business in Europe through NH Hotel Group SA, which it acquired in 2018.
Also read:
“One thing that’s…