About Us
Chairman's Message
We do not shy away from difficulties, but we look for means to turn them into opportunities.
Dear Fellow Stakeholders
As I reflect on Minor International’s journey of 2023, I can’t help but feel proud of the progress our company has made. This has been a year of remarkable recovery and rebound, well beyond anything we might have expected. We could not have imagined the level of demand we encountered for our hotels, restaurants, and products in 2023 and the increased price our guests were prepared to pay. I believe this reflects our commitment to ensuring the high quality of our hotels, restaurants and products, coupled with our team and the outstanding service and quality levels they provide. Throughout 2023,
We strengthened our footprint in the world of hospitality, with the opening of new hotels strategically placed across Europe, Asia, Oceania, the Indian Ocean, the Middle East, and Latin America. This expansion, coupled with several groundbreaking initiatives, solidified our presence on the global stage. We proudly introduced
NH Collection hotels beyond their traditional markets, venturing into the UAE and the Maldives. Meanwhile, Oaks made its debut in the vibrant landscape of China. Not stopping there, we strategically rebranded some of our NH Hotels to NH Collection and Avani, and transformed NH Collection into Anantara and Tivoli, fostering the unique positioning of each property while simultaneously broadening our horizons. This initiative has been instrumental in making travelers appreciate our superior proposition.
In response to the ever-evolving landscape of travel experiences, we unveiled an array of exciting activities for our guests. From Michelin-starred chefs delighting palates at Anantara Veli Maldives Resort to immersive Picasso-themed experiences at Anantara Villa Padierna Palace Benahavís Marbella Resort in Spain, we delivered unforgettable moments that resonated with travelers seeking unique and authentic experiences.
Across the spectrum of culinary experiences, Minor Food expanded its reach, introducing renowned brands from different corners of the world to new markets. Poulet, Café Wolseley, Riverside, The Pizza Company and the innovative Benihana store concept brought flavors and experiences that captivated diners’ sensory. Our commitment to brandbuilding shone through in our product innovations and collaborations, such as Swensen’s fried chicken ice cream and Dairy Queen’s Thai Tea Blizzard, setting new records for limited-time-offer products.
But perhaps one of the significant milestones was the acquisition of a 100% stake in Sizzler brand franchisor worldwide, excluding USA, Puerto Rico and Guatemala. It marked our return to growth and acquisitions on an international scale. Additionally, we increased our stake to 100% in Bonchon, further strengthening our position in the thriving Korean cuisine market within the country and abroad. In addition, we successfully launched Pop Mart, Thailand’s first international collectible retail outlets.
We take immense pride in our unwavering commitment to sustainable business practices, making a lasting positive impact on the society. Our presence in esteemed indices like the FTSE4Good Index, the MSCI ESG Leaders Index, and the Thailand Sustainability Investment (THSI) bears witness to our dedication to responsible growth. We continued to receive “Excellent” CG scoring (5-star) by the Thai Institute of Directors Association (IOD) for the 11th consecutive year and an “AA” rating from SET ESG Ratings by SET. In addition, Minor International proudly earned the ‘Great Place to Work’ certification across our diverse portfolio of business units and brands, a testament to our culture of trust, diversity, inclusivity, management competence and workplace intimacy.
As we embark on the journey towards 2024 and beyond, we are set to drive our existing brand portfolio to even greater heights. Our operational excellence, coupled with the collective expertise from our partners, ensure that our brands remain relevant and adaptable to the ever-changing market dynamics. We embrace the expansive opportunities that lie ahead, with many more hotels and restaurants poised to join our expanding family of brands. Our commitment to maintain a strong balance sheet and pursue high-quality growth is uncompromising.
None of this would have been possible without the support, trust and confidence of our stakeholders. We extend our heartfelt gratitude to each team member of Minor International for their dedication and passion, which have propelled us to achieve extraordinary results in 2023, despite the lingering challenges in the global landscape. We look forward with excitement to what lies ahead in 2024 and stand ready to thrive responsibly, breaking through boundaries as we continue our remarkable journey
William Ellwood Heinecke
Chairman
March 2023