Bangkok Apartments | Bangkok Condos | Bangkok Serviced Apartments

Home

MINT making B5.5bn in investments

source: Bangkok Post Oct 21 2008

Hotels in Bangkok and Maldives planned

Minor International Plc (MINT) plans to invest 5.5 billion baht to open two properties in Bangkok and the Maldives by 2010. The country's biggest hospitality and food-services company will spend around one billion baht on the 80-room Anantara Kihavah Maldives. It is investing 4.5 billion baht in the St Regis Hotel and Residences, which will be next to Four Seasons Hotel Bangkok and will comprise 200 hotel rooms and 53 units for sale.

In addition, by 2010 MINT plans to manage three additional overseas resorts: the 159-room Anantara Hoi An Resort & Spa, the 248-room Anantara Qasr Al Sarab Abu Dhabi Resort & Spa and the 470-room Anantara Jumeirah Lake Hotel.

These will double MINT's resorts under management agreements from three to six. Its current contracts are for the Anantara Resort in Krabi, due to open by the year-end, the Anantara Seminyak Bali in Indonesia and the Desert Islands Resort & Spa on Sir Bani Yas Island in Abu Dhabi, which is owned by Abu Dhabi's Tourism Development Board.

Minor International senior finance director Prapharat Tangkawattana said the company had also signed management contracts to operate hotels in Morocco and India by 2011 but declined to disclose more details.

MINT continues to pursue a diverse strategy of expanding its hotel business through building its own resorts, licensing the Anantara brand and managing resorts for other owners. In the second quarter of 2008, revenues from hotel management and licensing fees increased to 85 million baht.

MINT has recently introduced the 83-pool-villa Anantara Phuket Resort & Spa on Mai Kao Beach in Phuket at a cost of 1.2 billion baht. The 265-room JW Marriott Phuket Resort & Spa has further strengthened its leading position among Phuket's luxury hotel companies.

MINT has 29 hotels under the Anantara, Marriott and Four Seasons brands and its network of hotels now covers Thailand, the Maldives, Vietnam, Africa, the Middle East and Indonesia. It is also one of largest spa operators in Asia Pacific and has 29 spas worldwide.

MINT shares closed yesterday on the Stock Exchange of Thailand at 7.60 baht, up 15 satang, in trade worth 3.81 million baht.