Former Mandarin Chiang Mai Hotel Traded For THB2.5 Billion
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.