Asia: Dusit acquires Elite Havens and expands into luxury vacation rentals

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Thailand's Dusit Thani Public Company (DTC) has announced the company will dip its toes in the luxury vacation rental market with the acquisition of Elite Havens.

DTC made the acquisition through its wholly-owned Hong Kong-incorporated subsidiary, Dusit Overseas Company, which has bought all shares in LVM Holdings (LVMH), a Singapore-incorporated company and the ultimate holding company of Elite Havens, for approximately US$15 million.

Established in 1998, LVMH, directly and indirectly, holds shares in nine companies in South-east Asian countries.

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