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Wed, 12 Sept 2018

Dusit Enters High-End Vacation Rental Market with Acquisition of Elite Havens

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 Havens.

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.

Elite Havens: Jovana Beach Villas, Villa Ananda in Phuket, Thailand. Click to enlarge.

"Our 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 key regions."

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

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