BANGKOK, 10 April 2020: Dusit Thani Public Company Limited will temporarily close all of its seven owned hotels in Thailand until further notice, the company reported to the Stock Exchange of Thailand earlier this week.
The statement said the Dusit Thani Pattaya and Dusit Thani Laguna Phuket closed on 7 April. Pattaya authorities ordered a total lockdown of the resort city 9 April, and Phuket’s lockdown has been in place for a week while the international airport closes Friday 10 April.
The five remaining hotels, namely Dusit Thani Hua Hin, dusitD2 Chiang Mai, Dusit Princess Chiang Mai, Dusit Princess Srinakarin Bangkok, and Dusit Suites Hotel Ratchadamri Bangkok, will no longer accept new bookings. All current guests will stay at the hotels until their check-out dates the hotel group explained. Then the properties will close until further notice.
It also warned that the group’s overseas hotels* and hotels under management agreements might also be temporarily closed, depending on the local situation and respective government policy.
“Temporary closures of owned hotels in Thailand would impact the company’s business performance. Therefore, measures on cost and operating expenses reduction would be implemented to alleviate the impact on revenue and profitability,” the statement explained.
It reported that at the end of 2019, the company and its group had cash and short term investments exceeding THB 3 billion with more than THB1.2 billion in undrawn credit facilities.
Due to the impact of Covid-19 and travel bans, the group will also revisit its 2020 investment plan and will consider adopting a lower business expansion target.
*Dusit Thani Manila in the Philippines had already temporarily closed per its government policy.
