DharaDhevi Hotel in Chiang Mai will spend at least 5.7 billion baht to expand its hotel and property business through both joint ventures and its own investment schemes.
The luxury hotel is wholly owned by SET-listed Inter Energy Corporation Plc (IFEC), which acquired it in December last year.
IFEC chief executive SittichaiPornsupanan said DharaDhevi is ready to expand its hotel and property venture after completing its debt restructuring on Aug 23.
There are two new development projects.
The first is a joint venture with a SET-listed property developer to develop a six-star hotel with 80 rooms, condominium buildings with 20 units and 16 pool residences on a 40-rai plot next to DharaDhevi Hotel.