Bangkok, 23 January 2013 – Leading Asian hospitality group Dusit International announces its intention to partner with Changzhou-based real estate and hotel developer, Changzhou Qiao Yu Group, in a joint venture agreement that will see the company add a further 10 hotels in China to its growing portfolio of nearly 30 hotels, resorts and residences.
In addition to the two major shareholders, Dusit International and Qiao Yu Group, the joint venture also includes two individual partners, Mr Giovanni Angelini and Mr Harris Yang. Both are veteran senior executives of the hotel industry with a combined experience of 75 years.
Future properties to be developed under this new joint venture agreement will include three more hotels in Changzhou, one in Qingdao and possibly one in Wuxi. Cities targeted by the agreement over the next five to ten years include Shanghai, Kunming, Chengdu, Chongqing, and Hainan. Currently, Dusit International has planned a presence in Hainan with its Dusit Thani and Dusit Devarana resort brands, slated to open soon. By 2020, over 5,000 rooms will be under Dusit Fudu International Hotel Management Company by way of this joint venture agreement.
