The family conflict among the heirs of Dusit Thani’s founder has erupted into a corporate dispute, raising concerns over control of one of Thailand’s most prominent hotel operators.
Chanin Donavanik, acting chairman of Dusit Thani Plc and son of the late Thanpuying Chanut Piyaoui, accused his younger sisters of aligning with Central Group in an attempt to seize control of the SET-listed company.
Speaking at a press conference on Wednesday, the 67-year-old vowed to resist any takeover efforts and threatened legal action if necessary.
Central Pattana Plc (CPN), the commercial property arm of Central Group, rejected the allegation. The company insisted that its nomination of a board representative was standard shareholder practice in line with its 17.09% holding, and stressed it had no intention of exercising control.
Mr. Chanin’s comments came after the Dusit board voted on August 26 to remove him as a director, pending final approval at an extraordinary general meeting on September 26.
He said the move was driven by his sisters, who also orchestrated his earlier removal from Chanut and Children Co., Ltd., the family’s holding company and major Dusit shareholder, and from all other companies under the estate.
He denounced these actions as unjust, noting that he remains one of the administrators of his mother’s estate following her death in 2020. “I refrained from speaking publicly, hoping legal proceedings would lead to mediation. But now, similar actions have extended to Dusit Thani,” he said.
Mr. Chanin previously sought to challenge his siblings in court, filing a lawsuit that alleged they breached an inheritance division agreement granting him control of Chanut and Children.
However, the Bangkok South Civil Court dismissed the case in May, ruling that the discussions among estate administrators had only outlined guidelines for dividing assets and had not resulted in a binding contract.
Despite this setback, Mr. Chanin claimed his siblings have continued to wield their authority to reject financial statements without justification and are now seeking to replace him with individuals tied to external interests.
He warned this could compromise the company’s integrity and expose Dusit Thani to an external takeover. “This not only harms Dusit Thani, but also affects minority shareholders who have no means to respond,” he said.
He directly accused Central Group of being behind the manoeuvres, alleging that the conglomerate has repeatedly sought to become Dusit’s largest shareholder.
He said Central once raised its holding to 22.5% without disclosure, despite being a partner in the 46-billion-baht Dusit Central Park project.
According to Mr. Chanin, he later negotiated with Central to reduce its stake and refrain from sending representatives to the Dusit board, citing overlapping hotel, real estate and food interests that raised conflict-of-interest concerns.
However, he said he later discovered that Central and Chanut and Children, now managed by his sisters, had engaged in multiple discussions to acquire additional shares.
He warned that such moves could disrupt ongoing projects, including the Dusit Residences development, which has already sold 92% of its units.
He also criticised a recent proposal to expand the board from 12 to 18 members and alter signing authority, saying the plan would allow two-thirds of directors to sign on the company’s behalf, effectively shifting control away from the founding family and threatening Dusit’s 76-year legacy.
In response, CPN issued a statement underscoring its role as a joint investor in Dusit Central Park since 2017, where it has invested more than 20 billion baht. The company confirmed its 145,238,320 Dusit shares had been held since 2018 and said it has consistently respected the company’s management.
“It does not constitute any form of control over Dusit Thani’s management,” CPN said, adding that its participation was limited to shareholder rights.
The company reaffirmed its commitment to corporate governance, transparency, accountability, and sustainable growth, and stressed that Dusit Thani remains under the leadership of Chanut and Children without interference from CPN.
