Mr. Poj Harinsut, Chief Executive Officer of One Asset Management Limited, as the manager of the GROREIT trust, revealed that more than 10 interested buyers, including major Thai families and foreign investors, have expressed interest in purchasing the Royal Orchid Sheraton Hotel and Towers. This follows the default by Royal Orchid Hotel (Thailand) Public Company Limited, or ROH, on its asset buyback payment on 14 July. ROH must transfer ownership of the hotel back within 30 days, or face legal action. The trust is preparing to auction the property with a starting price of 5 billion baht, aiming to return funds to 1,600 unitholders within six months. Meanwhile, the Bank of Thailand has extended the buyback rights period under the asset warehousing and debt suspension programme until the end of 2027, as more than 400 operators are still not ready to buy back their assets. Kasikorn Research Center estimates that SME loans this year will contract by 4.5 percent, continuing from last year's 5 percent contraction.
ROH defaulted on asset buyback payment, must transfer hotel ownership, facing legal action.
As manager of GROREIT trust, ONE Asset Management is handling auction of hotel with starting price 5 billion baht, aiming to return funds to unitholders.