MINOR INTERNATIONAL’S THAI LEGAL CLAIM AGAINST MARRIOTT INTERNATIONAL ENTERS DECISIVE PHASE; DISCOVERY UNDERWAY

Further to its obligation as a public listed company to keep its stakeholders informed of material matters, Minor International (“MINT”) makes the following statement.

MINT, through a subsidiary, has filed a legal claim in Thai court against Marriott International, Inc. (“Marriott”) in relation to the JW Marriott Phuket Resort & Spa (the “JW Marriott Phuket”) which is owned by MINT and operated by the Marriott group. MINT’s claim is for damages of THB 570,605,134 and alleges that Marriott has committed a number of breaches of contract and serious offenses under Thai law, including actively competing with the JW Marriott Phuket, misappropriating confidential and proprietary information, forcing the hotel to participate in Marriott programs which benefit Marriott disproportionately, failing to protect the owner’s interest and unduly enriching itself at MINT’s expense.

MINT’s legal claim, after Covid-19-related court delays, is now rapidly progressing and has moved into a decisive phase. The Thai court has this week issued a subpoena to Marriott requiring disclosure of critical information and documentation directly relevant to MINT’s claim, including:

• details regarding the manner in which Marriott administers and sets pricing terms under its BonVoy loyalty program;
• the steps that Marriott takes (or does not take) to protect its hotel owners from competition by other hotels within Marriott’ssystem;
• the steps that Marriott takes (or does not take) to protect its owners’ confidential and proprietary information;
• the commercial and contractual terms of competing Marriott-system hotels; and
• other relevant matters.

Applications for further subpoenas are being prepared and will be filed with the Thai court shortly.

Witness hearings are scheduled for February and March 2023 and it is anticipated that a Thai court judgment will be issued within the second half of 2023. MINT looks forward to resolution of its long-running legal case and has full confidence in the Thai court system to fairly adjudicate and render judgement on its claims. MINT is confident that the outcome of this legal process will ensure full transparency and accountability by Marriott in its dealings with hotel owners worldwide going forward.