Dusit Thani Public Company Limited (DTC), 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, the leading provider of high-end vacation rentals in Asia.
DTC made the acquisition of all shares in LVM Holdings Pte Ltd. the ultimate holding company of Elite Havens. DTC’s acquisition of Elite Havens follows the company’s three-pronged strategy for sustainable and profitable growth, which includes balance, diversification, and expansion, particularly into new market segments, which will enhance DTC’s capacity to provide integrated services and drive revenue growth.
“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, DTC. “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. Mr Jon Stonham, CEO, Elite Havens, said, “With our strong focus on people and exceeding expectations with our services, Elite Havens shares the same values as Dusit, so there is already a strong synergy for us to build on..”
DTC has been actively enhancing its operations with investments in new market segments. The company 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 DTC announced it would also enter the affordable lifestyle segment with the launch of ASAI Hotels.