Dusit Thani Sells Its Share of Kempinski

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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.
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