India is one of the most important markets for Thailand, the third-generation hotelier Siradej Donavanik, vice-president of development for global hotels, told Mint on Thursday.
“This is our second stint in India, and we want to get things right. Unfortunately, our earlier partnership did not work out for us, and we learnt how important the market is to us and wanted to reenter the market to make a big impact,” he said.
The Thai multinational hospitality company first came to India in 2013 with Bird Group to set up two hotels. However, the partnership ended about four years later, in 2017. It will now focus on tier-II and -III cities while still eyeing future growth in metro destinations.
Hotel industry veteran Deepika Arora will be heading Dusit International’s India business.
It has eight brands, including luxury apartments, globally. To begin with, it plans to introduce its luxury and upper-midscale brands in the country, one of the “high-potential markets”. It has signed deals in locations like Raipur (Chhattisgarh), Bhiwadi (Haryana), Lonavala (Maharashtra), Kolkata (West Bengal), Kasol and Manali (Himachal Pradesh), and Karnataka.
The India expansion bid
The expansion will allow the brand to increase its presence in different locations while maintaining its standards and identity.
It will look at having about 3,000 rooms in the country in the next three years, with about 30 signings. It expects to have about 10-11 open hotels by then, too, with plans to open about two hotels a year.
This expansion follows the December 2024 launch of dusitD2 Fagu, Shimla, and the signing of three Karnataka properties, including the wellness-focused Devarana Sakleshpur.
Upcoming openings include four Dusit Princess hotels in Raipur, Bhiwadi, Kolkata, and Lonavala, as well as two boutique luxury Dusit Collection properties in Kasol and Manali.
Dusit’s India push aligns with its broader global expansion strategy. It will also expand into other high-growth markets, such as Vietnam, Indonesia, Japan, and China. It has about 10 hotels in China. Interestingly, in Thailand, the company is seeing a fall in the number of Chinese visitors.
Future plans
Whilethe company is currently only looking to work with local hotel owners, Donavanik confirmed that it is open to investing in properties in the future if the right opportunity comes along.
“We have a long-term vision for the company, not just in India, but everywhere else, too. Tier-I cities would be where the company would look to invest in case the right opportunity comes along,” he said.
“The Indian market has grown exponentially. Indians are looking for experiential travel, including food and wellness. The spending on luxury and leisure in India has increased tremendously since we were last here…Indians are expected to spend $410 billion on travel by 2030, and we want to be a part of that journey,” he said.
At present, India has about 200,000 branded hotel rooms, and the number is expected to reach about 300,000 rooms by 2030, according to hospitality consultancy Hotelivate.
Dusit is among the five or six companies that are showing a renewed interest in India. Mint recently reported that Thailand’s Minor Hotels, UAE’s Kerzner, Maldives’ Atmosphere Hotels & Resorts, and Hong Kong’s Mandarin Oriental are scouting for locations in India, while other chains like Accor, IHG, and Hilton plan to debut brands like Handwritten Collection, Vignette Collection, Hampton, and Signia in the country.
Dusit’s locally listed entity in Thailand, Dusit Thani Public Co. Ltd, reported a total revenue of THB11.2 billion ($326.53 million), up 74.8% year-on-year, for the full year 2024.
Its earnings before interest, taxes, depreciation, and amortisation (Ebitda) rose 91.4% to THB1.65 billion. The company’s net loss also narrowed to THB237 million from THB570 million in 2023.
Thailand’s big focus on tourism has also meant that India has become one of the top five inbound markets for the country and the top market for Dusit, said Donavanik, whose grandmother Thanpuying Chanut Piyaoui started the business in the south-east Asian country in 1948.
The company has about 60 hotels in 19 countries and about 250-odd luxury villas, schools, a food business, etc., in Thailand.