Dusit Hotels & Resorts is expanding it’s branded real real estate portfolio with an upcoming launch of a hotel branded and managed luxury condominium in Hua Hin. The company plans to launch Dusit Ajara, targeting Thai buyers who have shown great interest in the Thai hotel brands other projects, such as Dusit Central Park Bangkok residential project.
Sales in that project have been mainly to local Thai buyers who have great confidence in the Dusit Brand, and the expects to attract similar interest with this new residential development in Hua Hin according Siradej Donavanik, vice-president of development at Dusit Hotels & Resorts.
“Investment in branded residences is an opportunity for hotel companies, as potential buyers are looking more for branding, lifestyle and services, not only brick-and-mortar as in the past,”
Siradej Donavanik, vice-president of development at Dusit Hotels & Resorts.
The company is aiming to capture the senior residence trend, and the company will launch Dusit Ajara, under its property development arm, Dusit Estate, this year.
In Thailand, several generations live under one roof, unlike in Western culture where elderly people usually move to senior homes, said Mr Siradej.
Dusit Ajara is expected to feature 100 units under leasehold contracts.
Situated near Dusit Thani Hua Hin hotel, the project will integrate services from Dusit hotels, such as offering housekeeping with a five-star standard for residents, said Mr Siradej.
Dusit Future Expansion Outlook.
Meanwhile, for Dusit’s hotel development, he said the company aims to open 6-9 new hotels, and signed 15-17 management contracts this year, adding them to the existing 60-hotel portfolio.
Last year, the company signed 14 hotels, mainly in Asia.
Mr Siradej said the company has ambitions to expand to Europe, such as Germany and France, after opening the first hotel in Greece two years ago. He said such a presence would help the company diversify the portfolio to be less reliant on Asia.
Europe has also rebounded quickly from the pandemic, unlike Asia which reopened and recovered at a slower pace.
However, Asia would still be the main destination for expansion, including Japan, China and India, where the company already has a footprint.
For more information about Dusit Hotels & Resorts please visit the official website
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