DharaDhevi currently has a debt of 650 million baht which it is confident about clearing by the year-end.
This year, DharaDhevi Hotel targets 700 million baht in net profit. Of the total, MrSittichai estimated that about 600 million baht will come from its debt restructuring and the remaining 100 million baht will derive from hotel operations.
IFEC spent 2.46 billion baht to buy a 100% stake in DharaDhevi Hotel Chiang Mai Group, which includes DharaDhevi Hotel Co, A.P.K. Development Co and DharaDhevi Co, and its liabilities of 2.52 billion baht.