TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

Dusit Group Injecting Three Hotels Into Thai Property Fund

Category: Hotels, Posted:09 Oct 2010 | 12:06 pm

According to a notification filed with the Stock Exchange of Thailand (SET), the publically traded hospitality group Dusit Thani Public Company Limited has obtained shareholder approval for the disposition of three significant assets into a property fund.
The financial press is quoting company sources that the new Thai based fund will be THB4 billion and managed under Krung Thai Asset Management.
These assets are the recently acquired Dusit Thani Laguna Phuket Hotel set to be valued at between THB 2.7-2.75 billion; Dusit Thani Hua Hin Hotel THB850-950 million and dusit D2 Chiang Mai THB350-400 million.
Set out in the shareholders general meeting is a restriction that the group will not invest more then 1/3 of the sale into investment units in the property fund, which has set this ceiling at THB1,300-1,367 billion.
Final shareholder approval was also obtained for the transaction involving the purchase of the Dusit Thani Laguna Phuket.
Dusit will provide hotel management for a period of ten (10) years with five (5) year renewal clauses for the three hotels.
A newly set up SPV (Special Purpose Vehicle) will be established in connection with the start up of the property fund.
At the general meeting the company also approved the disposition of the Royal Princess Larn Luang in Bangkok's Khao San area with a price estimated at THB598 million.

Other News

Read more

Direct Bali Phuket Flights Return in Phuket

Category: Hotels|Tourism, Posted:14 Jun 2024 | 08:15 am The once popular Phuket Bali flight route will see AirAsia restart direct flights from 10th August 2024. AirAsia Indonesia will be the carrier and flight frequency will be three times a week. Bali hosted nearly 600,000 international visitors in May with Australia ranking 22.5% share, followed by India with 11.3% and China on the rise […]
Read more

Registration Open for Mind the Gap – Women & Diversity in Hospitality – A Learning Event

Category: Hotels|Tourism, Posted:13 Jun 2024 | 09:55 am Diversity, inclusiveness, and equality are core issues for the hospitality industry. C9 Hotelworks and the Phuket Hotels Association have organized a learning event titled ‘Mind the Gap, Women & Diversity in Hospitality on Saturday 31st August at the SAii Laguna Phuket. Join us in this unique, candid, and insightful half-day session that takes a closer […]
Read more

Samui’s Booming Villa Rental Marketed Featured in New C9 Hotelworks Report

Category: Hotels|Real estate, Posted:11 Jun 2024 | 07:04 am Standalone villas shake up traditional hospitality supply as the market rises. Increasing demand for multi-bedroom accommodation growing, coupled with a preference for spacious and private villas according to new research from C9 Hotelworks in their new Samui Villa Rental Market Review. In recent years, private villas rented as vacation homes have emerged as a significant […]
SiaJai logo

Thailand's Leading Homecare Marketplace