Asset World Corporation (AWC) has invested 435 million baht to acquire the Dusit D2 Hotel in Chiang Mai, partnering with the Dusit Thani Group to continue the potential of a legendary Thai brand, aiming to boost tourism in Northern Thailand and welcome travelers from around the world.

On December 14, 2021, the board meeting of AWC approved the acquisition of the Dusit D2 Chiang Mai (D2CM) hotel from Dusit Thani Properties REIT, with an investment budget of 435 million baht. The hotel is strategically located in the city center near the Night Bazaar, collaborating strategically with a legendary Thai brand of international standards, while continuing to provide impressive service at this popular hotel. The goal is to stimulate the tourism industry in Northern Thailand during the year-end period, aiming to position Chiang Mai as a key destination for travelers worldwide.

Wallapa Traisorat, CEO and Managing Director of Asset World Corporation Public Company Limited (AWC), a real estate developer focused on comprehensive lifestyle solutions, revealed that on December 14, 2021, the AWC board approved the subsidiary, TCC Hotel Chiang Mai Co., Ltd., to purchase land and buildings from Dusit Thani Properties REIT for 435 million baht. The Dusit D2 Chiang Mai hotel, with 130 rooms, is located on Chang Klan Road in the Mueang District of Chiang Mai, adjacent to the "Chiang Mai Night Bazaar," a shopping hub and center for famous restaurants in the city, and close to the Le Méridien Chiang Mai, another quality project from AWC.

Moreover, combined with the potential of the location, which includes art and culture, dining and entertainment, history, meeting venues, accommodations, and walking streets, Chang Klan Road is set to become a new tourist avenue in the heart of Chiang Mai. The company plans to provide unlimited services to cater to the market of young travelers and businesspeople, enabling AWC to meet the needs of all tourist segments, pushing Chiang Mai to become another important destination for travelers from all corners of the globe.

Wallapa stated that this signing represents a collaboration between AWC and the Dusit Thani Group, a legendary Thai hotel chain that has been in operation for a long time, aimed at enhancing tourism and strengthening the connectivity of AWC's real estate portfolio to meet the diverse lifestyles and travel needs of tourists. Following the government's policy to open the country and continuously promote domestic tourism, the demand for domestic travel has significantly increased, especially in Chiang Mai, which is a strategic tourist destination in the North, known for its culture, natural attractions, and famous local cuisine.

“AWC is honored to collaborate with Dusit D2 Chiang Mai, which is well-known and has always had a good reputation. This marks the beginning of creating long-term value together, believing in the potential of this collaboration to serve as a gateway connecting tourism from Chiang Mai, a major city, to various secondary cities in the nearby provinces,” Wallapa said.

Furthermore, Dusit Thani Properties REIT, the manager of the trust for investment in real estate and leasehold rights of Dusit Thani (DREIT), has resolved to sell the Dusit D2 Chiang Mai (D2CM) hotel to TCC Hotel Chiang Mai Co., Ltd., a subsidiary of Asset World Corporation Public Company Limited (AWC), for 435 million baht. The trust will hold an extraordinary meeting of unitholders to consider approving this resolution on January 27, 2022. After the sales contract is finalized, the Dusit Thani Group will continue to manage the Dusit D2 Chiang Mai hotel to welcome the return of the tourism industry in Chiang Mai, which is gradually improving. It is believed that this strategic collaboration will meet the travel needs of travelers looking for accommodations in a central location that is convenient for accessing major attractions or business areas in Chiang Mai. AWC plans to develop the Dusit D2 Chiang Mai hotel to be part of a quality portfolio that can connect with various quality projects in Chiang Mai and across the country.