Four Thai hotel groups with properties in more than 50 countries posted strong profits in 2023 and will continue expanding overseas with as many as 190 new hotels in the pipeline.

The burgeoning network of overseas properties is a sign that Thailand’s corporate sector is increasingly making its mark in markets worldwide. Propelled by Thailand’s thriving tourism sector, the Kingdom’s hospitality industry has long been a strength, but its companies are also flexing their muscles in other sectors.

Central Group, for instance, which is one of Thailand’s leading hoteliers, is also a force in retail at home and abroad. Recently, Central took a controlling stake in the British department store group Selfridges. It also owns retail venues in Germany, Denmark, the Netherlands and Ireland.

In hospitality, Central ranked third in foreign properties behind Minor and Dusit International, and ahead of Onyx. While several of the hoteliers’ properties are in Europe and the Middle East, they have also been focusing on expanding in Asia, especially the 10 countries of the Association of Southeast Asian Nations (ASEAN).

Many of the companies said that in 2023, they were finally able to achieve average daily room rates above 2019 prices, representing a complete comeback from the disastrous pandemic period.

The most successful of the hospitality firms, Minor Hotels, was founded by Bill Heinecke, born in the United States but who became a Thai citizen after achieving success in the Kingdom, first in advertising, and then in hotels, retail and food. His Minor Group of hotels is the largest in Thailand.

The group has 540 hotels across 56 countries, with 23 properties in Thailand under the Anantara, Avani and NH brands, and 517 more overseas.

Photo courtesy of https://www.anantara.com/en/all-destinations