BANGKOK, 5 February 2024: Dusit Thani Public Company Limited (DUSIT), one of Thailand’s leading hotel and property development companies, is poised to significantly expand its food business with a targeted revenue of THB2,500 million by 2027.
This goal stems from the notable success of enterprises operating within DUSIT’s food business unit, Dusit Foods, in which DUSIT holds a 75% stake, and the strategic promotion of Dusit Gastro, a new sourcing and distribution hub servicing Dusit Hotels and Resorts in Thailand and affiliated companies and customers in the hotel, restaurant, café, and catering industry (HoReCa). New product lines and services will be showcased at the THAIFEX-HOREC Asia trade show in Bangkok at the IMPACT Exhibition Centre, Muang Thong Thani, from 6 to 8 March 2024.
Established in 2018 with the vision of investing in food businesses that place importance on natural, organic, and good-for-health processes while also supporting local communities, Dusit Foods has subsequently invested in food businesses that are not only related to DUSIT’s core hotel business but which also have high growth potential and cover the total supply chain.
To date, Dusit Foods holds a 70% share in Epicure Catering, a leading provider of catering services to international schools in Thailand, Vietnam, and Cambodia; a 55% stake in Bonjour Bakery Asia Co Ltd, which operates a state-of-the-art baking factory producing French-style pastry products, and its associated bakery franchise business; and 51% ownership in Savor Eats, a central kitchen and cloud dispensing network business.
In August 2022, Dusit inked an agreement with PTT Oil and Retail Business Public Company Limited (OR) by Modulus Venture, a wholly owned subsidiary of OR, a leading oil and retail company, for OR to acquire a 25% stake in Dusit Foods in a synergistic alliance that leverages OR’s robust retail platform, including Café Amazon and the Ohkajhu health food brand, to sell various food products to consumers nationwide.
“Dusit Foods is a shining star for our company,” said DUSIT Group CEO Suphajee Suthumpun: “The business unit contributes significantly to our diversification, accounting for nearly 20% of our income in the first nine months of 2023, surpassing the 10% target. By strategically investing in Epicure, Bonjour, and Savor Eats, we’re fueling our expansion in catering, bakery, and food technology. This, coupled with Dusit Gastro’s launch, positions Dusit Foods as a major growth engine for DUSIT. With this in mind, we aim for 15 to 18% annual growth from the food business and target THB2,500 million in revenue by 2027.”
Dusit Foods managing director Manisa Mitpaibul commented: “In just the first nine months of 2023, Dusit Foods generated THB878 million, accounting for 19.5% of DUSIT’s overall income of THB4,512 million. Epicure and Bonjour played a key role in this, and both are expected to enhance their presence this year with Epicure broadening its catering scope beyond international schools and targeting strategic expansion in the Middle East and beyond, and Bonjour targeting China, the Philippines, and Vietnam.”
Beyond global expansion and strategic partnerships planned for 2024, Dusit Foods is also focused on promoting Dusit Gastro, a wholly owned venture sourcing premium ingredients such as organic rice from small-scale farms in northeastern Thailand, and offering high-quality products, including ready-to-cook curry pastes, par-baked pastries, and innovative frozen items.
“Driven by our vision to bring Asian food to the world, Dusit Gastro tackles the real challenges food businesses face today. From rising costs and inconsistent ingredients to labour shortages and changing consumer preferences, we offer innovative solutions through high-quality products and seamless integration with the Dusit Foods ecosystem,” said Mitpaibul. “Already trusted by a diverse range of clients, including restaurants, hotels, and gas stations across Thailand, we’re expanding rapidly. With exciting new product launches and growing interest from international partners, we’re poised to bring our unique solutions to the global HoReCa scene. At Dusit Gastro, we’re committed to continuously serving up the future of food.”
Dusit Foods various products and services, including products under Dusit Gastro, will be showcased at THAIFEX-HOREC Asia (Hall 10 – K14) at the IMPACT Exhibition Centre, Muang Thong Thani from 6 to 8 March 2024. The event promises a complete overview of Southeast Asia’s most sales-generating and future-forward products and services across 9 HoReCa segments: Bakery and Ice Cream, Café and Bar, Cleaning and Laundry, Dining, Furnishing, Kitchen, Services, Tech, and Wellness.
About Dusit Foods
Dusit Foods Co Ltd. is a subsidiary designed to leverage Dusit’s rich experience in food and beverage service to invest in food-related companies with strong growth potential and create high-quality food products for use at Dusit Hotels & Resorts and for sale internationally.
About Dusit International
Established in 1948, Dusit International or Dusit Thani Public Company Limited (DUSIT) is a leading hospitality group listed on the Stock Exchange of Thailand. Its operations comprise five distinct yet complementary business units: hotels and resorts, hospitality education, food, property development, and hospitality-related services.
The group’s portfolio of hotels, resorts and luxury villas includes more than 300 properties operating under a total of eight brands (Devarana – Dusit Retreats, Dusit Thani, Dusit Suites, Dusit Collection, dusitD2, Dusit Princess, ASAI Hotels, and Elite Havens) across 19 countries worldwide. The group also operates culinary schools and hospitality colleges in Thailand, plus catering companies for the education sector in Thailand, Cambodia, and Vietnam.
Dusit International’s diversified investments in real estate development, hospitality-related services, and the food sector are part of its long-term strategy for sustainable growth, which focuses on three key areas: balance, expansion and diversification.
For more information, visit dusit-international.com
