United Kingdom
United States
Asia Pacific
Thai hotelier Minor plans THB25 billion cash injection
Thailand based hotel group Minor International plans to THB25 billion ($782 million) to see it through the coronavirus crisis.
It will help bolster the ‘quality of the balance sheet.’
"Amidst the adverse impact on its operations from the global COVID-19 pandemic, Minor International is taking a proactive approach to ensure its ability to service its obligations," the firm said.
The funds will come via bonds, a rights issue and warrants.
It comes after MINT posted a THB1.77 billion loss in the first quarter, compared to a THB583.1 million profit in 2019.
The Minor portfolio features several brands including Anantara and Avani Hotels and Resorts.
It comprises more than 500 hotels across 56 countries in Asia Pacific, the Middle East, Africa, Europe and the Americas.
Related News Stories:
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Unexpected wave rocks cruise ship
Storm Lilian travel chaos as bank holiday flights cancelled