Phuket’s Katathani Group Buys Chiang Rai Hotel
One of the island’s largest hotel owners, Katathani has transacted the 271-key Dusit Island Resort in Chiang Rai.
According to TTR Weekly the deal is valued at approximately THB1 billion and new ownership will invest in a substantial upgrade.
It’s understood the hotel will close in April and re-open in August under the Katathani Collection who operate 6 properties in Phuket and Khao Lak.
Airlift to Thailand’s North to Chiang Rai and Chiang Mai is on an upward trend, while the nearness to the massive Chinese market is pushing hotel investors to these destinations.