Thai Minor International to invest more than $1 bln in hotels
- Filed under News
- Posted on Thursday, 10 March 2016 07:53
- By Zac Erawan
In what is seen as an extensive expansion of its hotel and fast food chain trade both domestically and at the global level, Thailand’s Minor International is contemplating to invest 40 billion baht (1.13 billion) in a period of five years from now.
More than 50 per cent of the amount will be utilized to build up prevailing operations, Chaiyapat Paitoon, vice president for strategic planning said.
Money for the proposed investment will be realized from internal cash and debt financing, he said, adding about 14 to 15 billion baht will be allocated for acquisitions.
By 2010, the number of hotels operated by the company will go up from the present 145 to 210, he said, adding the number of domestic and foreign fast food outlets will also increase from the current 1,851 to 3,100 during the corresponding period.
During 2016-2020, Minor International hoped to register a net profit growth of around 15 to 20 per cent a year, Chaiyapat said.
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Thai Minor International to invest more than $1 bln in hotels
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Zac Erawan
Owner at NewThaiHotels
Hotel Otaku. Hotel reviewer. Aspiring photographer. Xenodocheionologist.
Zac fuses his lifelong passions for 1. Beautiful Hotels & Resorts, 2. Thailand and 3. Website Design to bring NewThaiHotels to life, sharing the latest information on new and exciting luxury hotel openings in stunning tropical Thailand.
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