Dusit International, a local hotel chain, is studying whether to branch into three-star hotels aimed at tapping fast-growing tourism markets such as China and India.
Chief executive Chanin Donavanik said Dusit has been approached by local developers in areas where Dusit Thani and Dusit D2 are located to expand into the three-star segment serving middle-class tourists.
The company owns and manages 35 hotels under its four brands _ Dusit Thani, Dusit D2, Dusit Princess and Dusit Devarana.
Mr Chanin said Dusit sees prospects in the three-star market but is still working out the concept.
At first Dusit will build its own three-star hotel as a prototype, with the first location expected to open by 2015.
The three-star segment is burgeoning, driven especially by middle-income Asian travellers.
The trend has caught the eye of major chains such as Accor and Hilton.
Dusit also plans to focus more seriously on the meetings and incentives market next year, hoping to boost revenue during low-tourism periods.
The recent start-up of its hotel in Singapore will also raise Dusit's income during the low season, Mr Chanin said.
Given that most Dusit hotels are in beach cities, occupancy typically dips when the high season ends.
Thailand's peak tourist season runs from November-April.
Dusit's revenue this year is expected to grow by 15-20%, short of the 30% target, to 5.6 billion baht.
The company plans to pay a dividend of 1.50 baht a share.
During the first half of 2013, revenue was 2.55 billion baht for a net profit of 98.8 million.
Dusit expects 10% revenue growth next year and wants to raise the revenue ratio contributed by hotel management to 25% by 2018 from 5% now.
To achieve the target, the company must manage more than 50 hotels.
It also wants to own four or five hotels abroad, up from two now.