MINT believes profits will continue to reach new highs in 2024, with a budget investment of 10,000-13,000 million baht.

MINT is confident that it will still be able to achieve earnings growth to new highs in 2024, and from 2023 with operating profits reaching a new high (new high) of 7,700 million baht, it is ready to invest again this year. 10,000-13,000 million baht, mostly in the hotel business As for the food sector, there are still plans to expand abroad.

Written by Mr. Dilip Rajakaria, Group CEO, Minor International Pvt Ltd (MINT). He revealed that this year's profits will continue to achieve new record levels compared to last year when operating profits rose to a new level of 7,700 million baht due to the recovery factor in tourism and restaurant business. After people return to their normal lives once the Coronavirus (COVID-19) crisis is resolved.

Mr. Dilip said enthusiastically that “I am pleased to report our excellent performance for 2023. This report reflects the hard work and dedication of all our teams across 63 countries. Going forward, we will continue to focus on expanding the empire promoting sustainable growth and reducing debt to create value for the company’s stakeholders in the long term.

In 2024, the investment budget was drawn up. 10,000-13,000 million baht

MINT has set its total investment budget for 2024 at between 10,000 and 13,000 million baht, which will be mainly used for its hotel business. It is an expansion and improvement of the hotel. Especially hotels in Europe, which will be upgraded in large numbers.

The restaurant business continues to expand. Especially overseas, the Sizzler, The Coffee Club and The Pizza Company brands in Vietnam and Singapore


Focus on increasing customer spending per capita.

2024 Overview What MINT continues to emphasize is increasing customer spending per capita (Spending) in order to increase the ability to generate income and generate profit. By making tourists spend more in both hotels and restaurants. To increase the business potential of the group

Tourism will witness vitality in Thailand, with the number of tourists estimated at more than 35 million tourists, compared to more than 20 million tourists last year, and the number of tourists in Europe is likely to increase.

Revenue from rooms in Thailand February-March, 39% higher than last year.

Hotel business trends in 2024 continue to grow. This can be seen from room revenues on January 24, including advance room reservations in February and March. 67 in Thailand is 39% higher than last year, coming from the tourist season in Thailand. It received support from the Chinese New Year Festival

Meanwhile, hotel room revenue in Europe rose 20% as the weather in Europe was not so cold at the beginning of the year and is now much warmer. Making tourism lively Growth is expected to continue to rise during the summer, which is the peak season in Europe.

Hotel business with strategic repositioning and rebranding

For the hotel business focus on using repositioning and rebranding strategies according to plan to make MINT enjoy greater asset light ratio.

In particular, its brands will be raised to a higher level in hotels in Europe. In 2023, there were already 50 hotels relocated and rebranded, and in 2024 there will be another 28-30 hotels, with investments of about 50-60 million. euro.

This will help support the hotel's average daily room rate to increase significantly. One of the factors that support the proportion of light assets will be to rise to 40% within 3 years, according to the target. From currently 18%

In the next three years, increase cash flow. Not just profit

MINT's next three-year goal is not just to increase profit margins. But it will significantly increase cash flow from operations. The cash will be used in a debt reduction plan.

The goal is to reduce net debt to earnings before interest expense. Income tax amortization and amortization (net debt to EBITDA) to 4.3 times over 3 years from current 6 times.

The company continues to reduce debt in order to reduce interest expenses. Help support the company's profits, and by the end of 2024, the debt-to-equity (D/E) ratio will fall to 0.8 times from once in 2023, which will reduce debt to 90 billion baht from 100 billion baht, including the Selling and renting back some assets. This will reduce debt. And support increased margins


In the next three years, he set a budget of 30,000 million baht, with annual income growth of 8-10%.

MINT sets a 3-year target (2024-2026) to invest 30,000 million baht, with an expected average revenue growth of 8-10% per year and an average profit increase of 15-20% per year, with the need to create a return on investment. (ROI) not less than 10%

Over the next three years, MINT aims to expand its portfolio by adding 200-500 new hotels and 1,000 restaurant branches, bringing the total number of hotels to 780 and restaurants to 3,700. This commitment is supported by numerous and strategic growth opportunities. Focus on using an asset light business model, contracting out hotel management. Franchising restaurants to achieve sustainable growth while using as little investment as possible. Focus on high-growth markets outside of other markets.

MINT has reaffirmed its commitment to expanding its business to the global stage. Especially in important international sites such as
Addition of three managed hotels in Paris under the management of NH and NH Collection, the launch of the luxury Anantara hotel in Vienna and the launch of the NH Collection in Helsinki.

In addition, MINT's aggressive hotel expansion plans include the launch of Anantara and Avani hotels in Saudi Arabia. In addition to opening new hotels in the Middle East market where MINT is already growing. There are also plans to launch several managed hotels in China to attract domestic and international tourists.


Minor Food is also strengthening its presence in ASEAN by opening franchise restaurants in Vietnam and Singapore under the names Sizzler, The Coffee Club and The Pizza Company. Furthermore, MINT acquired the dairy business. Quinn operates in Indonesia and launches Pizza, Swensen and Gaga.


With all the above plans, you will be able to play a role in expanding your business into high-growth markets. Especially the market within the ASEAN group.

Plans to open Dairy Queen branches in Indonesia, and increase their number 10 times within 3 years.

Including the expansion of new Dairy Queen branches in Indonesia, increasing 10 times in 3 years from the current 12 branches, including the opening of the GAGA brand in Indonesia. Supporting the growth of the restaurant business in ASEAN countries and improving the Swensens brand with a new, more modern concept. The Dairy Queen and Swensens brands performed best in the restaurant category.

Get ready to open up market opportunities in India

In addition, we are looking for opportunities in new markets in India which has a large population and growth potential.

Q1/67 business trend remains on target

The operating performance trend in the first quarter of 2024 continues to have good momentum. Both hotel and restaurant companies can achieve the goals set by the company.

For the second quarter of 2024, it is still expected that there will still be good momentum also because it is summer in Thailand. There are important festivals, especially Songkran, to support the hotel business before entering the low season

As for the restaurant business, it has continued to achieve strong sales since the end of 2023, as the company continued to undertake various campaigns. To create continuous excitement in the market, this allows restaurants in the MINT network to obtain better income and profits.

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