Minor Expands Its Asia Strategy
Skift Take
Minor Hotels Group aims to expand to over 1,000 hotels globally by 2028, focusing on Asia, especially China and India, through an asset-light strategy and franchising.
STR reported China hotel data for the week ended November 16. China hotel RevPAR was down -3.6% for the week, year over year. The week was up against a +52% comp in 2023. ADR was down -4% for the week while occupancy was up +0.4%, both year over year.
The Macao Government Tourism Office said the total number of visitors to Macau this year is expected to exceed 33 million, which would mean they hit their expected target they set at the beginning of the year. As of November 10, visitor arrivals had exceeded 30 million, with a daily average of about 95,000 arrivals. In 2023, there were 28.2 million arrivals. In 2019, Macau set an all-time visitor record with 39.4 million arrivals.
Minor Hotels Group unveiled an ambitious strategy to expand its portfolio throughout Asia, with plans to exceed 1,000 hotels worldwide within the next five years. They currently operate 561 hotels worldwide with another 114
