Keeree Kanjanapas, who owns property company Tanayong and the Bangkok Mass Transit System (BTS), has come back to expand his business by focusing on the hospitality industry and the BTS SkyTrain. He had faced a debt burden of up to Bt77 billion arising from the financial crisis of 1997.
In the the hospitality industry, Tanayong will work as Keeree's business arm. He plans to invest about Bt23 billion to build 16 hotel and resorts across Thailand and overseas territories, starting this year until 2013.
Tanayong will set up a joint venture with Minor Group's management - Jonathan Wigley, John Westoby, Thitiya Westoby and Nopparat P'Kulsiri - who call themselves Absolute Hotel Services and have a registered capital of Bt25 million. The company will provide property-management and other consultancy services to other companies in the hospitality and property industries.
