MINOR HOTELS GEARS UP FOR INDIA ACCELERATION
Hospitality group eyes 50 properties in 10 years as it opens Bengaluru office and counts down to Anantara debut. |
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MINOR HOTELS GEARS UP FOR INDIA ACCELERATION
Hospitality group eyes 50 properties in 10 years as it opens Bengaluru office and counts down to Anantara debut. |
Category: Asia Pacific - India - Industry economy
- Hotel projects
This is a press release selected by our editorial committee and published online for free on 2024-05-03
Minor Hotels, a global hotel owner and operator with more than 540 properties in 56 countries, is set to intensify its presence in the dynamic Indian hospitality market, targeting 50 new openings within the next decade.
The group will focus its strategy on the upper-upscale and luxury hotel segments, where it expects strong interest from owners in its well-established Anantara, Avani, and NH Collection brands.
For Anantara Hotels & Resorts, the group is building on core brand differentiators by targeting opportunities in Ayurvedic wellness retreats, wilderness lodges, and historical palaces.
It also believes Avani Hotels & Resorts is well positioned to fill a significant gap in the lifestyle hotel space across India, while NH Collection Hotels & Resorts will prove attractive for upper-upscale conversion opportunities.
Minor Hotels has also identified strong potential for the upscale NH Hotels & Resorts, particularly in rapidly developing tier two cities and airport locations.
Eyeing hotel management contracts and with an emphasis on greenfield developments, Minor Hotels will look to identify opportunities in up-and-coming locations, continuing a strategy of destination creation that has been the foundation of the group's 46-year history.
Amir Golbarg, SVP for Middle East, Africa and India for Minor Hotels, said: "We are bullish on the potential of India, and have already been overwhelmed with owner interest, but are proceeding with a 'partnerships over properties' approach. It means we are being very selective in the hotels that we add to our portfolio, with our focus on cultivating meaningful alliances with partners who align with our values and vision. Minor's strength has always been in our ability to think globally while acting locally, meaning we are well versed at adapting our standards and operations to suit the unique characteristics of each market we operate in – a trait we believe will give us a strong advantage in India."
Minor Hotels has been present in the India market since 2017, when it launched Oaks Bodhgaya in the northeast Indian state of Bihar. But the group will mark a significant milestone later this year with the opening of Anantara Jaipur Hotel, the debut of its flagship luxury brand in India.
To support this expansion, Minor Hotels has opened a new office in Bengaluru, underscoring its commitment to long-term presence in the Indian market.
The group recently appointed Vijay Krishnan as Vice President of Operations for India, overseeing a growing team on the ground. By establishing a permanent strategic presence in Bengaluru, Minor Hotels has positioned itself at the forefront of emerging opportunities in southern India, anticipating significant growth potential in the region.
Dillip Rajakarier, CEO of Minor Hotels and Group CEO of its parent company Minor International (SET:MINT), said: "We believe in India. We believe in its potential as a world-class inbound destination. And we believe in the enormous opportunities that lie in its surging domestic market. It's why we have made substantial investments in establishing our operations there, and will continue to invest there to realise our growth ambitions. With our extensive experience in managing world-class hotels in emerging destinations, coupled with the strong recognition of our existing hotel brands within the Indian market, we are confident in our ability to play a significant role in India's ongoing tourism success story."
Minor Hotels brands have already built strong recognition amongst Indian travellers.
For Anantara in particular, India is one of the fastest-growing international source markets, with annual room night production across its Asia and Middle East properties growing 72% in 2023 versus 2022. That trend has continued to date in 2024, with Q1 figures up 36% on last year.
Minor Hotels is also a member of GHA DISCOVERY, the world's largest alliance of independent hotel brands. Revenue generated by GHA hotels in India hit a record US$68 million in 2023, with GHA loyalty members in India also topping 500,000 for the first time, a 21% year-on-year increase. Indian members also spent more at GHA hotels last year than ever before, generating a record US$60 million in hotel revenues, up 46% year-on-year.
According to research from GHA, its Indian members are planning on average four leisure trips, three staycations and five business trips in 2024, with the top three destinations being Europe, Thailand and Maldives.
Minor Hotels is one of the largest players in each of those markets, with more than 300 properties in Europe, 25 in Thailand and seven in Maldives.
Minor Hotels' growth strategy in India is part of an ambitious global expansion plan for the Bangkok-based group, which is targeting to add more than 200 hotels in the next three years.
About Minor Hotels
Minor Hotels is a global hospitality group operating over 540 hotels, resorts and residences in 56 countries, pursuing its vision of crafting a more passionate and interconnected world. As a hotel owner, operator and investor, Minor Hotels fulfils the needs and desires of today’s global travellers through its diverse portfolio of eight hotel brands – Anantara, Avani, Elewana Collection, NH, NH Collection, nhow, Oaks and Tivoli – and a collection of related businesses. Minor Hotels is rapidly accelerating its global growth ambitions, aiming to add more than 200 hotels by the end of 2026.Minor Hotels is a proud member of the Global Hotel Alliance (GHA), the world's largest alliance of independent hotel brands, and participates in the GHA DISCOVERY loyalty programme.
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