Minor Hotels posts record profit growth in 2025, Maldives drives Indian Ocean performance
Minor Hotels has reported a record year of profitability in 2025, posting a 32% year-on-year increase in core profit, with the Maldives identified as a key contributor to performance across Asia and the Indian Ocean.
The hotel owner and operator, which manages a global portfolio of more than 640 properties, recorded full-year core profit of THB 6.84 billion, supported by sustained system-wide demand and lower net finance costs. Core revenue stood at THB 133.2 billion, while operating expenses eased marginally compared to the previous year.
Total System Sales rose 3% on a like-for-like basis to THB 140.36 billion and increased 4% overall to THB 166.1 billion, reflecting continued demand across owned, managed and franchised properties, despite renovation-related inventory constraints at several flagship hotels.
Key operating indicators showed steady improvement, with system-wide occupancy increasing to 68%, average daily rate rising 3%, and revenue per available room (RevPAR) increasing 4% year-on-year. The group said this reflected a continued focus on pricing discipline rather than volume-led growth.
Across regions, Europe and the Americas remained Minor Hotels’ largest earnings base, delivering double-digit growth in profit contribution. In contrast, Asia and the Indian Ocean recorded stronger rate-led momentum, with RevPAR increasing by 12%, driven in part by performance in the Maldives.
Minor Hotels operates a growing portfolio of resorts in the Maldives, including Anantara Kihavah Maldives Villas, Anantara Dhigu Maldives Resort, Anantara Veli Maldives Resort, Naladhu Maldives Private Island, NH Collection Maldives Havodda Resort, NH Maldives Kuda Rah Resort, Niyama Private Islands Maldives, and Avani+ Fares Maldives Resort. These properties span luxury and upper-upscale segments and continue to benefit from strong demand, particularly during peak travel periods.
Commenting on the results, Group Chief Executive Officer Dillip Rajakarier said the company’s focus on an asset-right strategy, combined with system-wide demand, supported earnings resilience and positioned the group for further growth in 2026.
Minor Hotels also reported strong fourth-quarter performance, with core profit increasing 32% year-on-year to THB 2.73 billion, supported by peak-season demand across both resort and urban markets. During the quarter, occupancy rose to 70%, while ADR and RevPAR increased by 4% and 8% respectively.
The group enters 2026 with its strongest development pipeline to date, following the signing of 40 new hotel projects and master agreements in 2025. Minor Hotels expects trading conditions to remain supportive, underpinned by forward bookings, continued global demand and contributions from key resort destinations such as the Maldives.
