5-8-2023 (BANGKOK) Thai hotel chain Dusit International is poised for a major expansion in China, India, and Japan, with ambitions to double its global hotel count to approximately 100 by 2025, as the travel industry gradually rebounds from the impacts of the coronavirus pandemic.
According to Gilles Cretallaz, the company’s Chief Operating Officer, Dusit International has strategic plans in place for the opening of a luxury Dusit Thani hotel in Kyoto this September, followed by a midrange Dusit Princess hotel in China’s Jiangxi province by the end of the year. In a recent interview with Nikkei, Cretallaz detailed the company’s bold expansion strategy.
“Dusit Thani Kyoto is a first step to showcase and reinforce our hotel as a luxury brand,” Cretallaz revealed. The upcoming Kyoto property will feature a seamless blend of interior and exterior design elements from both the ancient Thai capital of Ayutthaya and traditional Japan, aiming to provide guests with a unique and culturally immersive experience.
Beyond Japan, Dusit International has its sights set on further expansion in the country. Areas with anticipated future tourist demand, such as Osaka, Tokyo, and Okinawa, are being considered for the company’s future hotel developments. “We are going to have more hotels within three years,” Cretallaz confidently stated.
India is also a key target for Dusit’s expansion plans, with the company making inroads into the European market this year. Over the next three years, Dusit aims to open approximately 50 new hotels worldwide, showcasing its determination to establish a prominent global presence.
Amidst its international endeavors, Dusit International is equally invested in a substantial project in its home market, Thailand. The Dusit Thani Bangkok, scheduled to reopen in mid-2024, will encompass not just a hotel, but also residential buildings, offices, and commercial facilities. In partnership with Thai conglomerate Central Group, the company will invest a total of $1.3 billion into this ambitious project, with 70% of the residential space already reserved.
Cretallaz regards this project as “the most strategic” since Dusit’s inception in 1948, reflecting the company’s long-term vision and commitment to growth.
Dusit International currently operates over 300 establishments worldwide, ranging from hotels and resorts to villas, spread across 18 countries. Despite the challenges posed by the pandemic, the company’s consolidated sales for 2022 saw a notable increase of 49% year-on-year, reaching 5.1 billion baht ($147.2 million). Moreover, Dusit International managed to improve its financial performance, posting a net loss of 500 million baht last year, compared to a 945 million baht loss in the preceding year, as its recovery efforts gain traction.
Cretallaz remains optimistic about the Chinese market, anticipating a full recovery next year. As Dusit International boldly ventures into new territories and consolidates its presence in existing markets, the company is poised to play a significant role in shaping the hospitality industry’s future in the region and beyond.
