Hotel wars: Dusit Thani heir vows to block family power grab
Chanin Donavanik warns of outsiders seizing control as board battle deepens
Dusit Thani has been plunged into a bitter family feud, with its acting chairperson warning of an outsider takeover and vowing: “I will never abandon Dusit Thani.”
Chanin Donavanik, acting chairperson of Dusit Thani Plc and a descendant of founder Thanpuying Chanut Piyaoui, broke his silence today, August 27, addressing a boardroom showdown with his two sisters, Sinee Thienprasiddhi and Sunong Salirathavibhaga.
Chanin alleged that moves were underway to remove him as director of the group’s holding company, Chanut and Children Co. Ltd., which holds the majority stake in Dusit Thani.
“Many of you may have seen reports that Chanut and Children have proposed a resolution to remove me. Today, I want to speak openly so everyone can hear the facts directly from me.”
He accused his siblings of changing governance rules after their mother’s passing, stripping him of authority and blocking approval of financial statements.
“Now they are attempting to remove me from the board of Dusit Thani Plc and replace me with someone linked to outsiders, to seize management control.”
Chanin warned that some of the proposed new directors have links to Central Group, Dusit’s powerful development partner and rival.
“This change shifts authority from family members who understand Dusit Thani to outsiders with no experience of managing or truly knowing the company.”
The conflict also centres on the success of the Dusit Residences project, which has sold more than 92% of its units. Chanin claimed his sisters reneged on an earlier inheritance split after realising how profitable the development had become, reported The Nation.
He alleged that Central Group had previously acquired a significant stake in Dusit Thani “quietly” and had held discussions with his sisters to expand its control.
“I view such actions as improper and potentially damaging to both the company and Dusit Residences.”
Recalling his mother’s vision of building a world-class Thai hotel brand guided by the motto Business with Honour, Chanin pledged to resist any illegitimate takeover.
“My promise is this: I will not leave Dusit Thani. If I am removed, I will return in another capacity. I will never abandon Dusit Thani.”
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