Thailand's Minor Hotel Group has reported a 38 percent year-on-year increase in net profit for 2015, which can largely be attributed to the improved performance of Oaks Hotels & Resorts, a strong increase in real estate income and revaluation gains of Baht670 million from business acquisitions relating to the Sun International and Oaks Elan Darwin transactions. Excluding the revaluation gains, 2015 net profit for MHG increased by 16 percent year-on-year.
Real estate income was helped by the sales of The Residences by Anantara Layan Phuket, which drove revenue from the group’s real estate business 30 percent higher than in 2014. Overall RevPAR of the hotel portfolio (excluding Oaks) organically increased by ten percent in 2015.
The company also opened two new-build Anantara resorts–Banana Island Resort Doha by Anantara in Qatar in January and Anantara Peace Haven Tangalle Resort in Sri Lanka in January. The MHG-owned Four Seasons Bangkok was reflagged as the Anantara Siam Bangkok, and is now the brand’s flagship in Thailand.
MHG is an owner, operator and investor with a portfolio of 145 hotels, resorts and serviced suites in 22 countries across Asia Pacific, the Middle East, Europe, South America, Africa and the Indian Ocean.