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 through its wholly-owned Hong Kong-incorporated subsidiary, Dusit Overseas Company Limited, which has bought all shares in LVM Holdings Pte Ltd. (LVMH), a Singapore-incorporated company and the ultimate holding company of Elite Havens, for approximately USD 15,000,000 (THB 495,000,000).
Established in 1998, LVMH, directly and indirectly, holds shares in nine companies in Southeast Asian countries. The largest company of its kind in Asia, it performs integrated marketing, reservations, concierge and management services for luxury villas and currently maintains a network of more than 200 fully staffed properties across Indonesia, Thailand, Sri Lanka, and the Maldives.
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.
Following its strategy for balance, diversification and expansion, 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.
A distinctive new brand designed to link curious, millennial-minded travellers with authentic local experiences in vibrant cities and resort destinations worldwide, ASAI Hotels now has five properties in the pipeline across Thailand, Myanmar and the Philippines.
