Former Mandarin Chiang Mai Hotel Traded For THB2.5 Billion

Category: Hotels, Posted:26 Dec 2015 | 10:22 am

The Dara Dhevi Resort Chiang Mai has been acquired by a Thai listed firm for THB2.5 billion.

Previously the hotel had been operated by Mandarin Oriental.

According to the Bangkok Post Far East Energy Corporation Plc is the buyer.

A key aspect of the deal is the substantial land bank which is expected to be unlocked by means of a land sale and residential development.

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