LOS ANGELES — Hotel guests in North America might not be too familiar with Minor Hotels and its brands yet, but that's about to change.
Genna Panagopoulos joined the Thailand-based hotel company in October as vice president of development for North America. She said in a video interview at the recent Americas Lodging Investment Summit that her addition to Minor was just one part of the company's American expansion plan.
"Minor is looking to grow here in North America, and they realized it was very important to have somebody with boots on the ground here in the U.S.," Panagopoulos said, adding that she has over 15 years of experience in the hospitality industry.
She added North America "is the big focus" when it comes to growth for Minor, which scaled notably last year.
"We had 40 new hotel contracts signed last year, which is the most we've ever had, and we're gearing up for that same, if not better, here again in this year," she said.
In addition to expanding its portfolio of hotels, Minor also launched four hotel brands last year, bringing its total portfolio to 12 brands. While Panagopoulos acknowledged that the luxury hotel segment is already competitive in the U.S., there are a lot of opportunities for Minor to make its mark.
"The wonderful thing about our brands is they allow for a lot of flexibility and localizing them to the specific destination, so that can sometimes overcome some of the tariff challenges owners are experiencing and sourcing materials from outside the country," she said.
Even with some of the tariff-induced challenges, Minor managed to sign three new luxury deals in North America last year, Panagopoulos said.
What's setting Minor apart from competitors is its experience as an owner, she said. Minor owns more than 80% of its portfolio, and while that ratio will evolve as the company pivots to incorporate more of a franchise model, that owner mindset isn't going anywhere.
"We're not very far removed from what it's like to be an owner and the the challenges that it comes with," she said. "And I think, from a brand perspective and a partner, that makes us really unique, because we understand truly firsthand what it's like and the challenges owners face, whether it be operationally development costs or so on."
For more from Minor Hotels' Genna Panagopoulos, watch the video or listen to the podcast embedded above.