Oaks leads the Aussie market

Oaks Hotels & Resorts, a division of Minor Hotel Group (MHG), is rounding off a successful first half of 2015 by outperforming key competitors.

Taking on its rivals across market sectors, the challenging business environment of Australia has proved no match for the accommodation provider.

With group assets exceeding $300 million and revenue totaling an estimated $280 million, Oaks Hotels & Resorts has also recorded a 10% increase in year-on-year room revenue, with average occupancy sitting at 74% for the year to dat.

Average daily rates are also ahead of budget expectations, indicating even stronger results are still to come for the company.

Oaks’ regional properties, in particular, have recorded the strongest gains over their competitors, including Townsville, Gladstone, the Hunter Valley, and Broome, which could be attributed to the rise of the popular ‘holidaying at home’ trend that many Aussies have adopted, choosing to travel domestically by taking advantage of the soft Australian dollar.

Oaks Hotels & Resorts’ chief operations officer Mike Anderson said he is pleased with the hotelier’s performance results across its Australian property portfolio.

“We have entered a significant development phase in the evolution of Oaks Hotels & Resorts,” he said.

“Our plans, underpinned by the support of our Thai-based parent company Minor Hotel Group, are concentrated on cementing Oaks Hotels & Resorts as one of Australia’s largest accommodation providers as part of MHG’s global portfolio.”

“With over 80% of Oaks Hotels & Resorts’ market currently domestically derived, there is extensive room for growth in a largely untapped international market for the Australian-born brand.”

“Minor Hotel Group has given us the opportunity to pursue new directions for Oaks Hotels & Resorts. We will continue to dominate domestically, with a strong proposition in market, but also look to expand our brand in key international markets by leveraging Minor Hotel Group’s existing sales channels and esteemed global reputation.”

Looking forward, the plans to extend Oaks’ property portfolio internationally will go hand in hand with a focus on attracting inbound travellers.

Currently the group has six properties outside of Australia, including three in New Zealand, two in the United Arab Emirates and one in Thailand’s capital of Bangkok.

“We are looking at multiple acquisitions both here in Australia and abroad, with an emphasis on growing our holdings throughout the Australasia region as part of our five year plan,” Anderson added.

Further substantiating MHG’s commitment to expanding its Australian presence, the Thai-based company has recently announced plans to open two new properties in Perth under a new entry brand for Australia, AVANI Hotel and AVANI Residences.

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mhg Minor Hotel Group oaks hotels & resorts