OR Partners with CENTEL for 700 Million Baht Budget Hotel Investment in 6 Provinces

Mom Luang Piktong Thongai, CEO of PTT Oil and Retail Marketing Company Limited (OR), revealed that the company is preparing to launch budget hotels at OR gas stations. Modulus Venture, a 100% OR-owned subsidiary, will create a joint venture with Central Plaza Hotel Public Company Limited (CENTEL), with Modulus holding 49% and CENTEL holding 51% of registered capital. They plan to initially construct 6 hotels in Bangkok, Phuket, Songkhla, Chonburi, Ayutthaya, and Kanchanaburi, each with 70-80 rooms and nightly rates around 800-1,000 baht. The total investment is estimated at 700 million baht, with OR investing approximately 346 million baht. By 2027, OR will assess whether to continue expanding the hotel chain. The company aims to increase PTT Station service users from 3.9 million to 5 million daily by 2030, targeting business ecosystem expansion through mobility, lifestyle, and wellness services.