The iconic Dusit Thani hotel in Bangkok, once host to royalty and celebrities like Rod Stewart and Stevie Wonder, is being demolished and rebuilt as a grander, more luxurious property as part of the $1.3 billion Dusit Central Park development. The founder, Chanut Piyaoui, a pioneer of Thai hospitality, passed the reins to the first non-family member and industry outsider, Suphajee Suthumpun, who is now expanding the brand globally. Under Suphajee’s leadership, Dusit International has grown its portfolio to over 11,500 rooms across eight hotel brands and is managing properties in Japan, Nepal, and Greece, with plans to expand to India and Saudi Arabia soon. The company has also diversified with the addition of ASAI boutique properties and the acquisition of Elite Havens.
Suphajee’s vision for the future includes reaching 100 hotels in five years and expanding the company’s food business with Dusit Foods. Despite challenges posed by the Covid-19 pandemic and financial losses, Dusit International is moving forward with its ambitious projects, like the completion of Dusit Central Park in 2025. The company is teaming up with Central Pattana to own and operate the hotel and residences within the development.
Although concerns over debt and market competition exist, analysts remain optimistic about Dusit International’s future, with shares on the rise and positive projections for profitability. The legacy of Chanut Piyaoui, known as the Iron Butterfly, continues to inspire the brand’s growth and commitment to upholding her vision of creating a world-class hospitality experience that blends Thai heritage with international standards. Through bold decisions and strategic investments, Dusit International is poised to make a mark in the global hospitality industry and honor the legacy of its founder.
Article Source
https://www.forbes.com/sites/rgluckman/2024/07/05/inside-a-13-billion-plan-to-rebuild-a-thai-luxury-hotel-brand/
