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Laguna Resort and Hotels Sells Dusit Laguna Resort Phuket to Dusit Thani

By on Aug 11, 2010 in Hotel-Tourism

The stock exchange of Thailand announced today that Laguna Resort and Hotels have agreed to sell the Dusit Laguna Resort Phuket to Dusit Thani Public Limited.

The total consideration is 2,716,000,000 baht including transfer tax paid by the purchaser which equates to 12,017,700 baht per room for the 226 room hotel.

Dusit Thani has managed the hotel for 23 years and according to the company report to the Stock of Exchange of Thailand, Dusit Thani plans to integrate the property into a public listed property fund which will be sponsored by Dusit Thani and in which they will hold 30% of the units.

Despite Thailand’s recent civil unrest this transaction shows the continued confidence of local hotel investors in the long term future of the Thai hospitality market.

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