Minor Hotels Boosted by Maldives as Thailand Growth Slows and Europe Posts Loss

A strong showing in the Maldives gave Minor just enough to break its Q1 losing streak.

Minor International posted a core profit of THB 50 million (about $1.5 million) in the first quarter of 2025, its first for the period since acquiring NH Hotel Group in 2018.

The result was buoyed by strong performance in the Maldives even as it faced slowing growth in Thailand and continued losses in Europe.

Revenue for Minor's core business was down 3% due to a stronger Thai Baht. The company said that revenue would have increased 4% without currency effects. Core EBITDA rose 1%.

Minor Hotels operates over 560 hotels and resorts across six continents under eight brands: Anantara, Avani, Elewana, NH, NH Collection, nhow, Oaks, and Tivoli.