Dusit International has formed a new partnership designed to extend its reach into the Chinese hotel market.
The Thai hotel management company has signed a new joint venture agreement Changzhou-based real estate developer Changzhou Qiao Yu Group, in a deal that will initially add a five hotels to Dusit’s Chinese portfolio, with the potential for many more.
“This is an extremely important milestone in our company’s history, as we see China as the best market for hotel management opportunities,” said Dusit’s Managing Director & CEO, Chanin Donavanik. “We are honoured to partner with such an established and reputable company as Changzhou Qiao Yu Group to help successfully realise our expansion plans in the PRC.”
Following the signing of the joint venture, the newly-formed Dusit Fudu International Hotel Management Company will be appointed to manage three hotels in Changzhou, in the eastern Chinese province of Jiangsu, plus one in the port city of Qingdao, Shangdong province, and potentially a hotel in Wuxi, also in Jiangsu province, less than an hour’s drive from Changzhou. The two partners will also target a selection of new Chinese markets in the next five to 10 years, including Shanghai, Kunming, Chengdu, Chongqing, and Hainan.
Currently, Dusit International has two hotels in the pipeline in southern China’s Hainan province, with the Dusit Thani Hainan and Dusit Deverana Hainan both expected to open later this year. Qiao Yu meanwhile, operates two properties in Changzhou – the Fudu Qingfeng Garden Hotel and Days Hotel & Suites Fudu. By 2020, the Dusit Fudu company expected to have more than 5,000 rooms operating in China.