Dusit Thani, one of Thailand's foremost hotel
and property development companies, has expanded into the high-end
vacation rental market through the full acquisition of Elite
Dusit made the acquisition through its
wholly owned Hong Kong-subsidiary, Dusit Overseas
Company Limited, which has bought all shares in LVM Holdings Pte
Ltd (LVMH), a Singapore-incorporated company and the holding
company of Elite Havens.
Established in 1998, LVMH directly and
indirectly holds shares in nine companies in Southeast Asian
countries. The largest company of its kind in Asia, it performs
integrated marketing, reservations, concierge and management
services for luxury villas and currently maintains a network of
more than 200 fully staffed properties across Indonesia, Thailand,
Sri Lanka, and Maldives.
investment in Elite Havens marks another important milestone in
our strategic journey, particularly our two-pronged plan for
expansion, which includes doubling our number of hotels in
operation, and providing broadened experiences for our customers,"
said Ms Suphajee Suthumpun, Group CEO, Dusit. "Our current brand
line up covers the midscale through to luxury hotel segments. Now,
with the addition of Elite Havens, we are delighted to cover the
luxury villa rental segment too.
"While the integrated
luxury villa management business is new to us, Elite Havens has an
impressive track record in this segment, successfully expanding
from a small enterprise to the leading company of its kind in
Asia. And we are confident that our 70 years of experience in
operating upper-upscale and luxury hotels will only enhance these
operations further, allowing the dynamic Elite Havens team to
leverage our own capabilities to continue providing exceptional
services for luxury consumers, while simultaneously expanding the
brand's reach in more dream destinations throughout Asia and other
Dusit first made moves into
the shared economy last year with an investment in Favstay, a Thai
hospitality startup offering condos and villas for rent in
Thailand's top destinations, and in April this year Dusit announced it would also enter the affordable lifestyle segment
with the launch of ASAI Hotels.
more on this to come