Vikram Chatwal, the group's vice chairman, said Dream Phuket Hotel & Spa features 174 guest rooms, suites and villas, adding that this is part of the group's expansion plans.
"We are also setting up a property in Chiang Mai," he said.
When asked why the group chose Phuket, Chatwal said the island was popular among international tourists and the hotel would be able to serve all active travellers from the East and West.
Phuket's natural beauty and its calm and jovial people welcomed a third of total arrivals or 10 million travellers last year. The island is also being promoted as a centre for cruise and marina.
"Dream Phuket has its own beach club. We have villas, pool cabanas and suites. The pool's wavy structure along with the island bar is pleasurable for all that see it," he pointed out.
"The average occupancy we are looking for is 80-90 per cent. Our reputation as a global brand and being positioned in exotic locals will strengthens the company."
Apart from the property in Phuket, the group also owns two hotels in Bangkok as well as properties in New York, Chicago, Hollywood and Dallas.
As founder and creative force behind other iconic lifestyle hotel brands, such as Night and Time Hotels and Augustus, Chatwal has also spent 43 years shaping the way for the Debut Hotels group, which is comprised of five brands and is |part of the Manhattan-based |firm Hampshire Hotels Management.
Chatwal was born in Addis Ababa, Ethiopia, and his family moved to Montreal, Canada in the 1970s and then to New York in the 1980s.
He attended the United Nations International School and earned a bachelor's in Finance from the Wharton School of Business at the University of Pennsylvania.
After graduating, Chatwal began his career on Wall Street, working at Morgan Stanley then Global Emerging Markets, insistent |on making his first million on his own.
Chatwal was named Entrepreneur of the Year at the South Asia Media Awards in 2005 and Forbes Asia featured him on the cover in 2006.