- Minor Hotels’ core profit rose 2 percent in Q2.
- Core revenue rose 1 percent to $1.08B.
- H1 RevPAR and ADR rose, occupancy fell.
MINOR HOTELS REPORTED a 2 percent year-on-year increase in core profit to $84.3 million in the second quarter of 2026. Growth in Europe & Americas helped offset disruption in the Middle East.
Core revenue increased 1 percent to $1.08 billion, while EBITDA rose 2 percent to $220 million, Minor said in a statement. System-wide RevPAR was flat, as a 1 percent increase in ADR was offset by a one-percentage-point decline in occupancy to 68 percent.
“This was a resilient quarter given the environment we’re operating in, and it underscores the value of a diversified portfolio,” said Dillip Rajakarier, Group CEO of Minor International, the parent company of Minor Hotels. “Our teams across all regions stayed disciplined on rate and costs, which allowed us to protect profitability even as performance diverged across markets. Geopolitical tensions, currency volatility and shifting travel patterns remain factors we’re monitoring closely. We expect demand to stay uneven through the rest of 2026, and we’ll continue to track forward bookings for the second half as conditions evolve.”
Europe and Americas led regional performance, with RevPAR up 5 percent, driven by Spain, Central Europe and Italy. RevPAR was lower across Asia, the Indian Ocean, Australasia, the Middle East and Africa, with the Middle East under the most pressure.
Asia saw growth in Thailand, where luxury properties recorded 7 percent year-on-year RevPAR growth on higher rates. Uneven demand, geopolitical tensions, currency volatility and changing travel patterns continued to affect trading.
For the first half of 2026, system-wide RevPAR increased 3 percent, with ADR up 4 percent and occupancy down one percentage point to 66 percent. RevPAR rose 5 percent in Europe & Americas, 6 percent in Thailand and 10 percent across Asia and the Indian Ocean, offsetting pressure in the Middle East.
Core revenue rose 3 percent to $2 billion in the first half, while EBITDA increased 2 percent to $320 million. Core profit fell 4 percent to $60 million, due to renovation works at owned properties and an unrealised foreign exchange loss.
Minor Hotels signed hotel management agreements for 20 properties in the second quarter, including projects in Sharjah, Austria, Saudi Arabia and the Caribbean. The signings took the first-half total to 29 properties with 2,165 keys, putting the group on track to exceed its record 40 signings in 2025.
The expansion included Anantara Miami Resort & Residences, Anantara’s first property in the U.S., three Anantara properties in India and Minor Hotels’ entry into Turkey. The group also announced The Wolseley Hotel New York, the first property under The Wolseley Hotels brand, and signed Avani Kyoto, the brand’s first property in Japan.
Anantara Miami Resort & Residences will be a 50-storey, 650-foot tower developed with One Thousand Group. The property is expected to open in 2030 and will mark the Anantara brand’s U.S. debut.
