COVER STORY
light, especially in key locations and with iconic assets.” In countries like Europe, for example, leases remain a popular deal type.( About 65 % of Minor’ s portfolio is owned and leased.) Rajakarier said that as Minor’ s brands gain more recognition, shifting to a more balanced asset strategy, one that embraces franchising, is the logical outcome. Of the group’ s extended pipeline opportunities, 87 % are asset light, up from 70 % last year. The franchise model will be deployed primarily across mature markets and via conversion opportunities, particularly in Europe and the U. S. Five years from now, Rajakarier said, 1,000-plus hotels would not be unexpected.
MAN FOR THE JOB Rajakarier’ s tenure with Minor Hotels has been less fluid than the company’ s maturation. He joined the company in 2007 as chief finance and investment officer, one year later was appointed COO and in 2011 was promoted to CEO.( He is also Group CEO of Minor International, of which Minor Hotels is a subsidiary.) He’ s basically been a hospitality lifer, having completed his studies in the UK and taking a position at a young age at what was then the White House Hotel next to Regent’ s Park in central London. His passion is not unlike others bit by the hospitality bug.“ No two days are the same,” he said.
Minor Hotels had only 12 hotels when Rajakarier joined the company. And while Minor is based in Thailand, it was founded by an American, William Heinecke, in 1978, with the opening of the Royal Garden Resort Pattaya, now the Avani Pattaya Resort.“ There is a great sense of achievement taking an Asian company into one of the top global hotel companies in the world,” Rajakarier said.
Becoming bigger means facing stiffer competition. Minor Hotels has exponentially grown its footprint under Rajakarier, but it is not yet among the largest hotel companies in the world by room count. It’ s not always an arms
Pool villas at Anantara Siam Bangkok.
Avani Palazzo Moscova in Milan’ s Porta Nuova district.
42 hotelsmag. com July / August 2026