Find our most recent stories tagged by their locations. Click here for more story locations.
Posted: 09 Oct 2010 | 12:06 pm
According to a notification filed with the Stock Exchange of Thailand (SET), the publically traded hospitality group Dusit Thani Public Company Limited has obtained shareholder approval for the disposition of three significant assets into a property fund.
The financial press is quoting company sources that the new Thai based fund will be THB4 billion and managed under Krung Thai Asset Management.
These assets are the recently acquired Dusit Thani Laguna Phuket Hotel set to be valued at between THB 2.7-2.75 billion; Dusit Thani Hua Hin Hotel THB850-950 million and dusit D2 Chiang Mai THB350-400 million.
Set out in the shareholders general meeting is a restriction that the group will not invest more then 1/3 of the sale into investment units in the property fund, which has set this ceiling at THB1,300-1,367 billion.
Final shareholder approval was also obtained for the transaction involving the purchase of the Dusit Thani Laguna Phuket.
Dusit will provide hotel management for a period of ten (10) years with five (5) year renewal clauses for the three hotels.
A newly set up SPV (Special Purpose Vehicle) will be established in connection with the start up of the property fund.
At the general meeting the company also approved the disposition of the Royal Princess Larn Luang in Bangkok's Khao San area with a price estimated at THB598 million.
A column featuring environmental issues and conservation around the island. Click here for more Green Reports check out the latest story from the leading experts:
While we hope for the best that Phuket's new airport expansion will have some green focus, it's encouraging to view Singapore's Changi as setting a global standard.
Flying always gives me a chance to look outside the box and today a news article in SikAir's in-flight magazine caught my imagination.
CENTEL 35.00 - 1.00 %
DTC 57.00 - 2.25 %
ERW 4.02 - 0.14 %
GRAND 1.11 - 0.01 %
LRH 28.25 - 0.25 %
MANRIN 25.75 0.00 %
MINT 24.00 0.00 %
ROH 27.00 - 2.75 %
SHANG 50.00 + 0.75 %
Library of published hospitality, tourism and property market intelligence.
Get Off The Beaten Track - Soma Journeys
PHUKET GAZETTEMerry in the Maldives
PROPERTY REPORT SOUTH EAST ASIAEavesdropping on Dead Presidents