Minor International Public Company Limited (SET: MINT) is setting its sights on a dynamic second half of 2025, with Vice President of Strategic Planning Ririnda Tangtatswas highlighting a promising mix of seasonal trends, global events, and expansion opportunities expected to accelerate the company’s growth momentum across its diverse hospitality portfolio.
MINT is set to benefit in the third quarter from Europe’s high season, characterized by strong momentum in the entertainment sector, including concerts, furniture and technology events, and major fashion weeks. These gatherings across European cities are expected to lift hotel occupancy and performance throughout the quarter.
In the Maldives, expansion and enhancement of the new international airport are expected to boost flight capacity, including new direct routes from various regions such as the Middle East and Europe. This improved connectivity should provide additional support for MINT’s hospitality business on the islands.
For its Thai hotel operations, MINT is leveraging government tourism stimulus initiatives during the domestic low season in Q3. Meanwhile, as multiple flagship hotels are undergoing renovations, the upgrades are projected to allow for an increase of approximately 20% in average room rates in the fourth quarter, compared to pre-renovation levels.
Reservation data shows that bookings in Europe for August and September 2025 are up around 5% from last year. In Thailand, bookings have been temporally impacted by refurbishment activities, though MINT remains focused on long-stay travelers who typically book ahead for major holiday periods such as Christmas and New Year, where bookings have also shown year-on-year growth.
While trade tariffs have not directly affected MINT’s hotel business, there have been some effects from changes in consumer confidence. MINT’s global brand scale and distributor network have enabled the company to build strong partnerships and maintain a competitive cost structure, especially in supply chain and logistics, resulting in lower expenses compared to many peers.
Looking ahead, MINT is maintaining its 2025 targets, forecasting high single-digit revenue growth and operating profit expansion of 15-20%. The company plans to drive this growth by emphasizing an asset-light strategy, prioritizing hotel management contracts rather than ownership, while targeting a return on invested capital (ROIC) of more than 12%.
