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Minor Hotels has reported a record-breaking full-year core revenue of THB 121.4 billion in 2023, representing a significant increase of 25% compared to the previous year. This surge in revenue propelled the hotel owner and operator’s core net profit to grow by an impressive 450%. Notably, strong performance in key markets such as Europe and Thailand drove significant growth in average daily rate (ADR) and occupancy, with group-wide ADR increasing by 10% and occupancy rising by 6%.
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