Minor Hotels Reports Best Year Ever — And 'The White Lotus Effect' Hasn’t Even Started

Minor Hotels posted its best financial year on record. But the real excitement? It may not have even peaked yet.

The hotel company said it expects a further boost in Thailand tourism following the much-anticipated airing of the third season of the HBO series The White Lotus.

The White Lotus has chosen Thailand as its newest backdrop for its third season. Four Minor properties, including Four Seasons Resorts Koh Samui and three Anantara resorts — Anantara Lawana Koh Samui, Anantara Mai Khao Phuket, and Anantara Bophut Koh Samui — are playing a starring role in the series that premiered on Sunday night.

To capture the buzz, the company launched “The Lotus Awakening Escape,” for travelers eager to experience the luxury and intrigue of The White Lotus first-hand. The package offers guests a four-night experiential stay at its three featured resorts.

If past seasons are any indicator, this could be a great boost to Thailand’s tourism industry and for Minor’s already surging hospitality business. The phenomenon, dubbed “The White Lotus Effect,” has already played out in Hawaii and Sicily, the settings for Seasons 1 and 2, where featured hotels saw great demand post-airing.

"We anticipate both immediate and lasting benefits for Thailand from The White Lotus Season 3. Already, our Koh Samui properties — three of which were key filming locations — have reported a remarkable jump of up to 40% in ADR (average daily rate), and we expect demand to surge further as the series airs," Dillip Rajakarier, CEO of Minor Hotels and Group CEO of Minor International told Skift.

Minor’s Record Year

Even before The White Lotus hype kicks in, Minor Hotels has plenty to celebrate. The company posted its strongest full-year results on record, reporting a 16% jump in net profit to THB 5.1 billion ($151 million) and a 9% rise in total revenue to THB 134 billion ($4 billion) for 2024. The fourth quarter alone delivered THB 2.2 billion ($65 million) in profit, marking a 14% year-on-year increase.

Average daily rate (ADR) across the global portfolio also rose 6% year-on-year, while revenue per available room (RevPar) climbed 9%.

What’s driving the boom? A combination of disciplined pricing, strategic expansion, and a global travel resurgence that’s lifting hospitality brands worldwide. Despite its rapid expansion, Minor Hotels said it is keeping financial risk in check through its “asset-right” strategy — a mix of owned, leased, and managed properties.

In 2024, Minor Hotels added 30 new properties and more than 3,000 keys, pushing its portfolio past 560 hotels and 81,000 keys in 58 countries.

Some of the highlighted openings included the NH Collection Helsinki Grand Hansa in Finland, Anantara Stanley & Livingstone Victoria Falls Hotel in Zimbabwe, and the recent debut of Anantara in India with the Jewel Bagh Jaipur.

Talking about how the hotel company is well positioned to capitalise on the ongoing global travel rebound and accelerate growth in 2025 and beyond, Rajakarier said: “Our asset-right strategy and disciplined financial management will continue to drive growth and create value for our stakeholders. With a reinforced financial position, we are set to innovate, expand profitably, and capture new opportunities — mostly capital-free — as we continue to scale our global footprint.”

Thailand Leads the Charge

While Minor Hotels’ global portfolio performed well, its home market — Thailand — where it has 30 properties, stood out as the star performer. Minor saw a 17% jump in revenue per available room (RevPar) in Thailand as occupancy rates rose to 70%.

Minor said Thailand’s increased airline routes and targeted marketing campaigns helped attract high-spending travelers from North America, Europe, and the Middle East.

The timing couldn’t be better — Thailand’s tourism sector is riding high on pent-up demand.

"In the long run, this marks a major shift in Thailand’s global positioning — from mass tourism to a premier luxury and wellness destination," Rajakarier told Skift. "Minor is well placed to harness this momentum with projects like Layan Life by Anantara in Phuket."

Minor’s performance in Europe and the Americas also delivered strong results, buoyed by a resilient leisure and business travel market from key source markets such as the U.S., UK and Mexico.

What's Next?

Minor Hotels has 54 upcoming properties in 2025. The company aims to push its global footprint to 850 properties by 2027, with openings in key markets like Singapore, Japan, and Saudi Arabia.

For these openings, Minor said it would focus on gateway cities and high-growth emerging markets. The hotel company said it would be "shifting its portfolio from a Europe-heavy concentration to a more balanced global presence, with significant growth in Asia, the Middle East & Africa as well as Australia & New Zealand."

The hotel company said its "asset-right" strategy would guide its expansion, ensuring capital efficiency while maintaining operational control. It stated that it will manage or franchise over 90% of the properties in the pipeline.