Minor Hotels' recycling strategy pays offMinor Hotels Group, the hospitality subsidiary of SET-listed Minor International, has set a five-year plan with an aim to have 650-700 properties by 2024. Dillip Rajakarier, Minor International Group chief executive and Minor Hotels chief executive, said the company recorded strong growth for the first nine months of 2019, thanks to the consolidation of NH Hotel Group and the implementation of an asset recycling strategy. The company benefited from the recycling strategy, selling mature assets and leasing them back to offset debt and lower leverage. Minor Hotels operates 535 hotels in 55 countries, with 80 hotels in the pipeline scheduled to open over four years. The Middle East is a focus for Minor Hotels, with 18 hotels under the Anantara, Avani, Tivoli and Oaks brands in the region.

Source: Bangkok Post February 10, 2020 23:37 UTC