On Wednesday Dusit International launched joint venture Dusit Fudu International Hotel Management Co. with real estate developer Changzhou Qiao Yu Group.
Also included in the joint venture are individual investors Giovanni Angelini and Harris Yang.
As part of the deal Dusit International, Bangkok, will add five hotels currently in development stages to its managed portfolio in China through the JV.
“This is an extremely important milestone in our company’s history, as we see China as the best market for hotel management opportunities,” said Chanin Donavanik, Dusit International managing director and CEO.