Thai hospitality company Dusit International has signed a JV agreement with Saudi-based Dyar Hotels & Resorts in order to expand its operations in the Gulf region.
Dusit International comprises four hotel brands - Dusit Thani, dusitD2, Dusit Princess and Dusit Devarana. It also operates Dusit Residences and its own signature Devarana Spa.
Dyar Hotels & Resorts is a hotel management company which provides Shariah-compliant hotel and asset management services.
The newly-formed JV already has three properties in its pipeline, one in Qatar and one in Jeddah under the dusitD2 brand. A third hotel is planned to open in Jeddah under the company’s Dusit Thani label.
The JV is currently negotiating five more hotels in Makkah and Madina, which together welcomed 18 million visitors in 2014.
This number is expected to grow to 23 million by 2020.