[BANGKOK] Minor International, whose hotels in Thailand feature in the hit series White Lotus, plans to expand in the US to cash in on the newfound global fame that’s seen room bookings skyrocket since the show began airing last month.
Already one of Asia’s largest hospitality groups, Minor will aim to open one Anantara hotel – its flagship luxury brand – in the US by early next year, said the company’s founder Bill Heinecke. A strong following of The White Lotus has changed the company’s view towards the competitive American market, where it only has one hotel through NH Hotel Group, which it acquired in 2018, he said.
Four Minor-owned hotels were used as the primary filming locations to portray the fictional White Lotus resort in Thailand, including three Anantara properties in the resort town Phuket and popular tropical island Koh Samui, and the Four Seasons hotel on the same island. Since the premiere in mid-February, direct online bookings for the three Anantara resorts were up by 41 per cent compared to the same period last year, while web traffic more than doubled during the same period, Heinecke said.
“This show has really catapulted the international appeal of Minor and of our hotels, specifically Anantara,” Heinecke, who’s also the company’s chairman, said in an exclusive interview. “We haven’t got an Anantara in the US yet, but I hope that we’ll rectify that by this time next year. I hope that we’ll have at least one.”
The US plan is a new addition to the company’s expansion targets, which were announced the day the White Lotus hit Thai television screens. The group is aiming to expand to 850 hotels in 2027 and 1,000 hotels by 2030, up from 562 hotels that it operates or owns in 57 countries across the globe. It had earlier touted plans to make its first foray into major markets Japan and Singapore.
Minor’s so-called “White Lotus effect” will be amplifying a boost from the global tourism recovery, particularly in its home market Thailand and Europe where it holds the majority of its operations. Heinecke said the company had performed strongly so far in the first quarter, and he anticipates record results again this year, after Minor posted its strongest ever earnings in 2024 with a 43 per cent jump in net profit.
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The White Lotus “will provide many opportunities for us around the world,” said the 75-year-old American-born Thai. “What makes me even prouder is the fact that we’ve been able to take Anantara, which is a Thai brand, internationally.”
Minor Group plans to cut its debt and fund new investments by setting up a real estate investment trust this year and moving some of the properties in its portfolio under it. The US$1.5 billion Reit may be listed in Thailand or Singapore, chief executive officer Dillip Rajakarier said last month. Europe was another option being considered to list the planned Reit, Heinecke said.
“One of the things that people have been concerned about is our heavy debt,” Heinecke said. “And we have an opportunity through a Reit to repay most of that debt.”
The company’s total liabilities, which soared following the acquisition of NH Hotels and impact of the Covid pandemic, fell to 247.7 billion baht in 2024 from about 273 billion baht a year earlier, according to the company.
Tourism remains a bright spot and a key driver of Thailand’s lacklustre economy, which is the second-largest in the region. The government is targeting foreign tourist arrivals to top 40 million this year, which would break a record set in 2019. Between January and Mar 9, Thailand has welcomed 7.66 million foreign tourists, up 4.4 per cent on the year.
Minor’s shares have gained about 10 per cent this year, bucking a sell-off in the broader Thai equity market which is one of Asia’s worst performer with a decline of 17 per cent. BLOOMBERG
