MINT hiking room rates to boost revenue

SET-listed Minor International (MINT) plans to continue hiking its room rates to ensure profitability and a minimum 20% revenue increase across three businesses, using an investment budget of 10-15 billion baht as part of a three-year plan.

“Our strategy this year will continue to ensure an increase of the average daily rate (ADR) to offset the headwinds we face,” said Dillip Rajakarier, group chief executive of MINT and chief executive of Minor Hotels.

Mr Rajakarier said the key strategies included reducing the impact of high inflation, the cost of living, labour costs and energy costs, as well as driving growth from revenue optimisation and pursuing the right market segment.

By increasing ADR, hotels can also gain better revenue per available room (RevPar) and profit margin through upscale and luxury customers who can still afford the higher rates, he said.

Mr…