Thai Minor International to invest more than $1 bln in hotels, fast food over 5 years
Thailand’s Minor International Pcl (MINT.BK) plans to invest 40 billion baht ($1.13 billion) over the next five years in a major expansion of its hotel and fast-food chain businesses at home and overseas, a senior executive said on Wednesday.
Chaiyapat Paitoon, vice president for strategic planning, said more than half that overall sum will be used to build up existing operations, with about 14-15 billion baht set aside for acquisitions. The company will use internal cash and debt financing to fund the investment, he said.
The firm aims to raise the number of hotels it operates to 210 by 2020 from 145 now, he said, while targeting an increase in the number of its domestic and foreign fast-food outlets to 3,100 by 2020 from 1,851 currently.