On 30 December 2025, Dusit Thani Public Company Limited (SET: DUSIT) notified the Stock Exchange of Thailand regarding a significant change in the shareholding structure of its major shareholder, Chanut & Children Co., Ltd., which could shift the dynamic of how DUSIT will operate moving forward.
Mr. Chanin Donavanik, the Company’s Acting Chairman and Group CEO, purchased 1,200,000 shares in Chanut & Children from Mrs. Sunong Salirathavibhaga on 26 December 2025. This acquisition represents 15.96% of Chanut & Children’s total issued shares, effectively increasing Chanin’s shareholding in the entity to 41.36%.
As Chanin now holds over 30% of the voting rights, Chanut & Children is classified as a juristic person under Section 258 regarding his holdings, a status officially reported to the Securities and Exchange Commission on 29 December 2025. Importantly, the disclosure states that Chanin did not purchase any additional shares directly in Dusit Thani during this transaction. Therefore, Chanut & Children’s 49.74% stake and Chanin’s 0.06% direct stake in the Company remain unchanged.
Dusit Thani confirms that this internal restructuring of its major shareholder will have no impact on the Company’s business policies, operations, or management structure.
This transaction effectively ends the immediate threat to Chanin’s leadership. While the sisters previously controlled two-thirds of the holding company, Sunong’s exit as a major holder leaves Sinee Thienprasiddhi isolated. For Dusit Thani, this implies a return to stability and continuity.
Originally, Chanut & Children Co., Ltd. was held by the heirs of Thanpuying Chanut Piyaoui, the founder of Dusit Thani. The shares were held by her three children: Chanin Donavanik (the eldest brother), Mrs. Sinee Thienprasiddhi, and Mrs. Sunong Salirathavibhaga (both younger sisters of Chanin), who held nearly equal proportions as follows:
Donavanik Family: 26.66% (Chanin holds 25.4%)
Thienprasiddhi Family: 26.65%
Salirathavibhaga Family: 21.68%
The Fight for Control
The dispute involving Chanin Donavanik and his sisters, Sinee Thienprasiddhi and Sunong Salirathavibhaga, centers on the inheritance and management of Dusit Thani Public Company Limited following the 2020 passing of their mother, founder Thanpuying Chanut Piyaoui.
The tension escalated in 2025 when the sisters, controlling the family holding company Chanut and Children, attempted to remove Chanin as director and Acting Chairman of Dusit Thani. Chanin alleges his sisters reneged on a 2022 inheritance agreement that was supposed to grant him control of the hotel business. He has publicly accused them of facilitating a “hostile takeover” by outsiders, specifically pointing to Central Group, a major partner and shareholder.
In September 2025, minority shareholders successfully voted to reject the resolution to remove Chanin, keeping him on the board despite his sisters’ efforts.
