PTT invests 250 million baht to jointly invest in ‘One Origin’ to penetrate the hotel business, piloting ‘Rayong’ to open for service in June.
behind PTT Public Company Limited Informed the Stock Exchange of Thailand on April 21 that the Board of Directors’ meeting of Energy Complex Co., Ltd. (EnCO), a subsidiary in which PTT holds 50% of shares, passed a resolution approving EnCO to jointly invest with One Origin Public Company Limited or ONEO by purchasing shares of One District Rayong 2 Co., Ltd., an affiliate of ONEO in the proportion of 50% from ONEO with a value of 46 million baht.
The objective of the joint venture is to jointly develop hotel and retail businesses within the “Origin Smart City Rayong” project, located on Sukhumvit Road, Noen Phra Sub-district, Muang District, Rayong Province, in order to support business expansion. expansion of the business sector in the Eastern Special Development Zone (EEC) and the tourism sector After recovering from the COVID situation
on April 23 Mr. Peerapong Jaroon-ek Chief Executive Officer of Origin Property Public Company Limited revealed that a joint investment between One Origin Public Company Limited, a company in the Origin group and EnCO, a subsidiary company This time, TAT spends 4-5 months negotiating a joint venture to jointly operate a hotel business under the Holiday Inn Express brand under the Intercontinental Hotels Group (IHG), which is part of the Origin Smart project. City Rayong, where the company is developing a project on an area of 24 rai in a large mixed-use format, worth more than 10,000 million baht, consisting of Condominium, Community Mall, Service Apartment, Service Office and hotel
“The hotel will be in the front area with more than 210 rooms and the area under the hotel will have a shop area. Targeting Thai and foreign customers, room rates are over 1,000 baht per night. It will open in June this year. So together with some Thai investors, PTT is interested in entering the hotel business. Because there are affiliates PTT is located in many EEC and Map Ta Phut areas. And not far from the hotel, ”said Mr. Peerapong.
Mr. Piti Jarukamjorn Chief Executive Officer of One Origin Co., Ltd. said that this hotel has a project value of approximately 800 million baht and a construction value of 500 million baht, in which EnCO will jointly invest 50% or 250 million baht of the construction value. It is a 3.5-star hotel with an accommodation price of 1,800 baht per night. It will open around July. Supports both MICE market groups and corporate customers.
“This joint venture happened because we agreed on the development and investment in the EEC area that will be a big market. And the EEC is also a stronghold of PTT. In addition to this project, there is also talk about the next project. Both in the EEC and other areas, ”said Mr. Piti.
2023-04-23 15:12:55
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