Dusit Thani Public Company Limited is closing all seven of its owned hotels across Thailand.
They will stay shuttered until further notice, the company said last week in a stock market filing.
The Dusit Thani Pattaya and Dusit Thani Laguna Phuket have already closed due to lockdowns in Phuket and Pattaya and the remaining hotels will close once all current guests check out.
No new bookings are accepted at Dusit Thani Hua Hin, dusitD2 Chiang Mai, Dusit Princess Chiang Mai, Dusit Princess Srinakarin Bangkok, and Dusit Suites Hotel Ratchadamri Bangkok.
They will progressively close once all rooms become empty.
In the filing it said more overseas hotels and those under management may also be temporarily closed, depending on the local government policy, such as the now closed Dusit Thani Manila in the Philippines.
"Temporary closures of owned hotels in Thailand would impact the company’s business performance. Therefore, measures on cost and operating expenses reduction would be implemented to alleviate the impact on revenue and profitability," the company said.
Due to the widespread travel bans and plummeting demand, the group will possibly revise its 2020 business plan and reign in its initial expansion plans for this year.
