Mint opens two new hotels and joins set 100
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Mint opens two new hotels and joins set 100
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Category: Africa Indian Ocean
This is a press release selected by our editorial committee and published online for free on 2006-02-17
Minor International (MINT) is pleased to announce that it has opened the 50 room Bodu Hura Hotel in the Maldives and the 15 room Four Seasons Tent Camp in Chaing Rai, Thailand and joined the Stock Exchange of Thailand’s SET 100 index. The two new hotels along with three others which are expected to open later this year will contribute to MINT’s overall revenue and earnings growth in 2006. The Stock Exchange’s decision to include MINT in the SET 100 index enhances MINT’s profile as a leading publicly listed food service and hotel company and comes almost two months after MINT was selected by Forbes as one of Asia’s top 200 public listed companies with sales under US$ 1 billion.
On December 23, MINT opened the 50 room Bodu Hura Hotel in the Maldives with an average occupancy rate of 60% during its first two weeks of operation. The Maldives represents an exciting new market for MINT’s expanding international hotel business which previously consisted of 10 hotels located in Thailand and Vietnam. In the second quarter of 2006, MINT expects to open two more hotels in the Maldives including a 110 room hotel under the company’s own Anantara hotel brand.
On January 14, MINT will open a 15 room Tent Camp in the Golden Triangle region of Chiang Rai on a remote site along the Mekong River where the borders of Thailand, Laos, and Myanmar intersect. This premier luxury resort in northern Thailand is managed by the Four Seasons and is expected to provide guests with an experience unlike any available at Thailand’s other leading tourist destinations. With the 80 room Four Seasons in Chiang Mai and the 77 room Anantara Hotel in Chiang Rai, MINT has further strengthened its leading position among luxury hotel companies in northern Thailand with the development of the Four Seasons Tent Camp.
The Stock Exchange of Thailand (SET) has included MINT in its SET 100 index of Thailand’s top 100 listed companies by market capitalization, free-float, and turnover. MINT is pleased to be included in the SET 100 as it reflects the increasing strength and size of its food service and hotel businesses which combined for a 32% and 67% increase in sales and earnings during the first nine months of 2005, respectively. Since January 2005, MINT’s market capitalization (excluding treasury stock) has increased by more than 100% to Baht 16.5 billion.
Minor International (MINT) is Thailand’s largest food service operator with over 558 outlets system wide under The Pizza Company, Swensen’s, Sizzler, Dairy Queen and Burger King brands. It is one of Thailand’s leading hotel operators with a portfolio of 12 hotels and over 2,352 rooms under the Marriott, Four Seasons, Anantara, and Minor International brands. Through a joint venture with Marriott International, it has developed the 144 room Marriott Vacation Club Time Share in Phuket. It is also one of the largest spa operators in Asia Pacific with 16 spas in Thailand and China under the Mandara, the Spa and Anantara brands. For more information, please visit www.minornet.com
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