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Oaks Hotels & Resorts’ Performance Instrumental To Minor Hotel Group’s 2015 Net Profit Results

March 8, 2016 Financial No Comments Print Print Email Email

Leading accommodation provider Oaks Hotels & Resorts, a division of Minor Hotel Group (MHG), is continuing to play an instrumental role in its parent company’s overall performance, with recent results released by MHG demonstrating that Oaks’ improved operation contributed to MHG’s impressive 38 per cent year-on-year increase in net profit for 2015.

Oaks Hotels & Resorts’ enhanced performance was largely attributable to effective cost controls implemented at both operating and financial levels, while the acquisition of Oaks Elan Darwin – the brand’s first property in the Northern Territory – also marked a major milestone for the company.

The hotelier is also set to bolster its property portfolio further off the back of these strong results, with a forward growth strategy announced by Minor Hotel Group’s Chief Executive Officer, Mr Dillip Rajakarier, as part of the company’s five year plan.

Currently incorporating a network of 52 properties – 46 in Australia and 6 overseas – Oaks Hotels & Resorts is set to expand not only in Australia but also internationally in 2016 and beyond, with the Australian-founded brand set to be introduced into India, China and Indonesia.

Since acquiring the company in 2011, Minor International has spearheaded the addition of 18 new properties to Oaks Hotels & Resorts’ portfolio and, backed by consistent strong revenue performances, the company is on track to enjoy further expansion into the greater Asia Pacific region.

Mr. Rajakarier commented, “2015 was a successful year in terms of growth and development for Oaks Hotels & Resorts and we are looking to maintain this momentum.

“The results confirm we are in a solid position to forge ahead with a scalable expansion over the next five years as we look to take advantage of a number of promising acquisition and management opportunities that will accelerate our growth trajectory both in Australia and overseas,”
he said.

“At this point we plan to add up to 20 new properties to Oaks Hotels & Resorts’ portfolio, which includes introducing the brand into more international destinations where some of Minor Hotel Group’s other brands, such as Anantara and AVANI, are already well recognised.

“I believe Oaks Hotels & Resorts will perform very well in these markets, lending to the demand from business and leisure travellers seeking spacious, well-equipped apartment accommodation that reflect the comforts and conveniences found at home.”

Domestically, Oaks Hotels & Resorts Australian foothold will expand to 47 properties next month as it welcomes Oaks Wolloongabba, a 10th property for Brisbane, to its South East Queensland portfolio. Located in the vibrant, south-east Brisbane inner-city suburb of Wooloongabba, just two kilometres from Brisbane’s CBD and a short distance to the famous “Gabba” sports ground, the opening of the new build property will take Oaks Hotels & Resorts’ inventory to over 1400 rooms in Brisbane, further cementing the hotelier as one of Brisbane’s largest accommodation providers.

In terms of future domestic growth opportunities, Mr Rajakarier also stated that Perth, Hobart and Canberra are slated as destinations of interest.

“We are actively seeking opportunities in Western Australia, Tasmania and the Australian Capital Territory, with the aim of Oaks Hotels & Resorts having presence in every Australian state and territory. This is certainly one of our five-year objectives and a natural progression for Oaks Hotels & Resorts, and we have already received strong interest from our partners and loyal guests about expanding into these exciting new destinations.”

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