Dusit Thani Sells Its Share of Kempinski

By Dinah A. Spritzer

BERLIN -- Bangkok-based Dusit Thani, which operates Dusit Hotels and Resorts, sold its share of Kempinski Hotels to its partner, the Siam Commercial Bank of Bangkok, a Kempinski spokeswoman said.

Dusit Thani and the Siam Commercial Bank each owned 50% of the Bangkok-based Siam Sindhorn company, which owns 83% percent of Kempinski Hotels. Kempinski operates the Campton Place Hotel in San Francisco as well as hotels in Argentina, Bulgaria, Canada, China, France, Germany, Hungary, India, Japan, Russia, Switzerland and Turkey. Dusit Hotels and Resorts operates 13 hotels.

In an interview with Travel Weekly at the ITB trade show here, the Kempinski spokeswoman said that the Siam bank probably will try to sell hotel company. She speculated that Dusit Thani was not prepared to fund Kempinski's expansion.

Siam Sindhorn bought the Kempinski chain in late 1994.

In other hotel news announced at ITB:

  • Hyatt International will open its first Europe-based Grand Hyatt here in October. The 346-room property is owned by a subsidiary of the German firm Daimler Benz.
  • Marriott Hotels said it will open 20 of Courtyard properties in Europe, Asia and Australia in early April. All but three of the openings are conversions of Ramada International Hotels. Marriott acquired Ramada's parent company, the Renaissance Hotel Group, last year. The three hotels that will require new construction are in Paris, Berlin and Beijing.
  • Ritz-Carlton will open a hotel in Wolfsburg, Germany, in 2000 as part of a lodging and entertainment project owned by Volkswagen. The 135-room hotel is Ritz Carlton's first property in Germany and its second in Europe. Ritz Carlton said the hotel will be positioned as a conference center.
  • This page is protected by Copyright laws. Do Not Copy. Purchase Reprint
    blog comments powered by Disqus

    View Comment Guidelines

    Please upgrade your Flash Player.
    Please upgrade your Flash Player.

    Travel Weekly Poll

    Voices

    • Consumer media discover that travel agents do exist

      "Contrary to some thoughts, travel agents do exist ... We are usually able to get clients better prices, and we know we can see that clients have better experiences. And as our personal motto is: Our Service Travels With You."

      More»

    TW Index: Most Active Stocks

    Latest Top News:
    Caribbean
    Europe
    Travel Weekly is on Facebook
    Viewpoints For Travel Agents
    Travel Weekly Topics