Dusit Thani has revealed growth and improvement plans to capitalise on surging demand for hospitality in Asia. The group will spend up to THB300 million (US$9.9 million) on renovating existing properties in Asia and intends to open five new hotels in China. The company also has aspirations to plant itself in the Indian hospitality sector with a management contract in Delhi, while also setting up sales offices in India and China to increase its share of the growing outbound travel markets.
After political troubles a year ago, the firs six months of 2011 have seen tourism rebound quickly. Dusit Thani expects a full recovery by next year and will refurbish properties in Bangkok, Pattaya, Hua Hin and Phuket in preparation for the resurgence.
Dusit expects revenues to grow 15% on last years THB3.6 million and has a positive outlook for Thailand’s hotel industry, which has been hit hard by political turbulence in the last three years. Average occupancy at Dusit Thani properties in Thailand is hovering around 60% presently. This is expected to hit 70% by the end of the year if the political situation remains stable. Group CEO Chanin Donavanik, told the Bangkok Post; “I believe the local hotel business will fully recover next year.”