Katathani Collection is set to announce their acquisition of Dusit Island Resort in Chiang Rai, for a reported price of THB 1 billion. According to sources, the sale was finalised with VES Group last September, allowing Katathani to take over operations during the same month. The property will officially change its name later this year to ‘The Riverie by Katathani.’
Dusit Island Resort will continue to operate under its existing name until 31st March 2018, after which point it will close temporarily to undergo a series of renovations and improvements, to the tune of around THB 300-400 million, before reopening to the public on 1st August 2018. The improvement works will focus on the resort’s bathrooms and restaurants, along with an upgrade to the swimming pool and operational infrastructure.
Rates are expected to be adjusted when the resort reopens in August, to reflect the new “five-star experience” the resort will offer. All existing bookings to Dusit Island Resort remain unaffected, and the resort will continue to accept new reservations.
Sombat Atiset is the founder of the Katathani Collection. He sees his investment as an important step in the group’s history, and one that will impact positively on the area surrounding Chiang Rai.
“It will boost tourism and add value without competing with other properties,” he said, whilst also confirming the hotel will be placed in the upscale market to encourage guests to stay longer than the current two-day average. The group’s other properties will work in tandem with the new acquisition in Chiang Rai to offer a complete package to foreign visitors.
“We have guests from Europe, Australia and from China,” said Mr Atiset. “By having a hotel in Chiang Rai, we will be able to package a stay combining Phuket and Chiang Rai,” he continued.
Kathania Collection currently has six properties; two on Kata Noi beach, Phuket; and four on Khao Lak beach inÂ Phang Nga province. The group’s inventory totals around 1,500 rooms.