Minor Hotels has established itself as a forward-thinking leader in the global hospitality industry, driven by an innovative approach. In this exclusive interaction with TTJ, Puneet Dhawan, Head of Asia, Minor Hotels, unveils the company’s bold vision for global expansion, with a particular focus on the rapidly growing markets of Asia and India. Minor Hotels is reshaping the hospitality landscape through innovative brand concepts, its unique ‘asset right’ strategy, and capitalising on India’s rising appeal as a destination for luxury and immersive travel experiences.
Q. Minor Hotels has ambitious global growth plans. Are there any specific targets or priority regions for expansion set for the coming years? Can you share more about the company’s strategy for growth, particularly in Asia and India?
Minor Hotels’ strong growth trajectory is continuing into 2025 and beyond. We recently announced an update on our development pipeline, including almost 300 properties and over 47,000 keys, set to open by the end of 2027. This expansion puts us on track to surpass 850 hotels and resorts globally and positions us among the world’s largest hospitality groups.
Of the 300 properties, we expect to add more than 100 in Asia, which includes new openings across the region, with strategic expansion specifically in North Asia and India. For other regions, the addition of more than 60 properties in the Middle East and Africa and 40 in Australia and New Zealand will lead to a more balanced global portfolio distribution, which today is more than 50 per cent of our properties in Europe.
In mid-2024, we also announced our target to open 50 properties in India within 10 years. We hit a significant milestone by launching the first luxury Anantara in India—Anantara Jewel Bagh Jaipur Hotel—in November 2024, and we are in various stages of discussions with partners across the country to expand our India portfolio.
In tandem, we are investing heavily in uplifting many luxury properties across our portfolio. For example, in Thailand, we recently completed renovations at our two Anantara resorts on Koh Samui—Anantara Bophut Koh Samui Resort and Anantara Lawana Koh Samui Resort—and Anantara Hua Hin Resort, the original Anantara, is undergoing significant upgrade works.
Q. Minor Hotels has introduced an innovative “asset right” approach, combining the benefits of both asset-light and asset-heavy models. How does this dynamic strategy work in practice, and how does it align with the company’s long-term growth goals?
Minor Hotels has a long history of asset ownership, and we have an ownership stake in the majority of our portfolio. Today, around 70 per cent of our portfolio falls within an ‘asset heavy’ classification, where we own or lease the property, versus the 30 per cent that is managed or ‘asset light’. As part of the latest review of our ‘asset right’ strategy, we want to bring the ‘asset heavy’ and ‘asset light’ proportions closer to 50-50 by adding more managed and franchised properties. This move will also ensure more sustainable and diversified growth. More than 90 per cent of the projects in our pipeline are hotel management agreements (HMAs) or franchise deals, which will help us meet our rebalancing goal.
Having an ownership stake in our properties and owning strategic assets allows us to do many things our ‘asset-light’ competitors cannot. For instance, we have greater control over defining and delivering the brand experience, which is especially important in the early days of building the brand. We also have more room to experiment and innovate, and it has allowed us to become a pioneer in many areas, like wellness with concepts like Layan Life by Anantara in Phuket, guest experience with the Jungle Bubbles at Anantara Golden Triangle Elephant Camp and Resort in Chiang Rai, and our branded residence projects.
As owners ourselves, we know what matters to our owners in the ‘assetlight’ portion of our portfolio in ways other groups do not. Our stake in our hotels means we understand how to run profitable hotels that deliver results and return on investment for their asset.
Q. How does Minor Hotels approach property development, particularly with regard to conversions, brownfield, and greenfield projects?
We consider all types of projects. In our current global pipeline, 62 per cent are greenfield development, while 38 per cent are conversions and brownfield development opportunities.
Our team evaluates if a project is one where we should take an ownership stake or manage the asset. Often, as evident in our current pipeline, we see a growing demand for Minor Hotels to come into a project through an HMA. For projects where we will manage an asset, partnership is one of the most important factors for us. We look for partners committed to creating something unique and special for our guests, where we can deliver memorable experiences that build loyalty to our brands.
Q. With new properties expected, are there any new brands or concepts that you’re particularly excited about? How do you envision these brands resonating with local markets?
Destination creation has been instrumental in Minor Hotels’ strategy and success, and we see immense opportunities to apply this approach in India. The country has many untapped hotspots and immense potential to establish new destinations for domestic and international tourists.
Our focus in India is on expanding within the luxury and premium hotel segments with our Anantara, Avani, and NH Collection brands. Additionally, we see opportunities to introduce our upscale NH Hotels and Resorts brand to tier 2 and 3 cities, as well as airport locations, to meet the growing demand for branded hotels in these areas.
While emerging urban centres, particularly in Southern India, present exciting prospects, we are also excited about the prospect of opening luxury wilderness lodges in places like the southern hill towns and the northern Himalayas, restoring historic palaces or forts, or launching Ayurvedic wellness retreats. These concepts align with Anantara’s strength in blending cultural authenticity with world-class luxury.
We also have two new brands in development that will launch later this year—joining our portfolio of eight hotel brands—which could address owners’ and travellers’ needs in India.
Q. Anantara is the flagship luxury brand of Minor Hotels. What differentiates Anantara Jaipur from other luxury offerings in the region, and what makes it a standout property?
Anantara Jewel Bagh Jaipur Hotel is an excellent opportunity for us to introduce the Anantara brand to India. Jaipur has a vibrant heritage, and there are so many ways that we deliver an authentic cultural experience that immerses guests in the city.
The property’s distinctive design draws on Rajasthan’s regal architectural elements and evokes the luxury of a bygone era. On the exterior, the chajjas and jahrokas give the hotel a palatial feel, paying homage to Rajasthan’s royal past. Once inside, the tikri mirror work done by third-generation artisans in the Sheesh Mahal bar creates a mesmerising glow, while the hand-painted murals and carvings of the grand Rang Mahal make it a cultural masterpiece highlighting Rajasthan’s storied past.
Q. As Minor Hotels plans to open new properties in India, what do you believe are the key drivers behind India’s growing appeal as a destination for international travellers?
Travellers are increasingly curious to experience the incredible diversity of India beyond the major metros.
The country’s investment in tourism infrastructure has made it even easier for travellers to access more remote, less-discovered destinations. Within the past decade, the number of operational airports has more than doubled, opening further opportunities for regional tourism.
India’s vast tapestry of experiences, including ancient monuments, UNESCO World Heritage Sites, vibrant festivals, diverse cuisines, and rich cultural heritage, will continue to draw travellers seeking authentic and immersive experiences for years to come.
Q. As the travel industry continues to evolve, what key travel trends do you foresee for 2025 and beyond, and how is Minor Hotels positioning itself to stay ahead of these changes in India?
India’s hospitality market presents a unique opportunity to bridge the gap in experiential luxury properties, despite its rich cultural heritage and historical significance. We see potential to introduce world-class luxury experiences celebrating India’s history, such as revitalising legacy assets like forts and palaces. With Anantara’s expertise in merging heritage with contemporary luxury, we are well-positioned to bring these remarkable properties to a global audience while preserving their authenticity.
India’s youthful demographic, with a median age of approximately 30, also highlights the rising demand for vibrant, lifestyle-focused hospitality. Our Avani brand, with its ‘fun and funky’ ethos, is perfectly tailored to meet the preferences of this younger generation, offering dynamic spaces that align with their aspirations.
Additionally, as the birthplace of Ayurveda, India offers an unparalleled opportunity in wellness tourism. Minor Hotels’ globally recognised wellness offerings, such as the Anantara Spa, naturally align with India’s wellness heritage, allowing guests to engage with holistic practices in their place of origin.
The country’s vast wildlife reserves also remain underutilised, presenting another avenue for development. Drawing inspiration from our success with the Elewana Collection in Africa and Anantara and Avani’s presence in nature-driven destinations, we aim to create immersive wildlife experiences that combine luxury with conservation.
Lastly, as Indian hotel owners increasingly seek partners who prioritise local understanding over standardised models, Minor Hotels’ philosophy of ‘thinking global, speaking local’ ensures we offer the flexibility and cultural alignment they value. This approach uniquely positions us to collaborate effectively with owners and deliver hospitality experiences that resonate deeply with the market.
