Grand Asset Targets Debt-Free in Three Years, Launches 25 Billion Baht Luxury Residences

Grand Asset Hotels and Properties unveiled a major restructuring plan to revive its real estate and hotel businesses, aiming to repay all debentures within three years while shifting investment toward three Branded Residence projects in Thong Lo, Chao Phraya River, and Rayong worth over 25 billion baht combined. The company also plans to transition its hotel model to lifestyle hotels under its own brand.

Sutthipong Chitnotai, Deputy CEO for Business Development at Grand Asset Hotels and Properties Public Company Limited, revealed the company is undertaking a significant strategic overhaul to restore revenue and profit generation across both real estate and hotel operations. The focus is on improving operational efficiency, generating cash flow, and managing financial structure to strengthen the company long-term.

A key objective is boosting profit and cash flow to service debt, with the target of fully repaying debentures within three years. This will be accompanied by asset management, securing appropriate funding sources, and careful liquidity management to restore financial health and build confidence among debenture holders and all stakeholders.

Expanding the Branded Residences Brand Across Three Locations Worth Over 25 Billion Baht In real estate, the company plans to pivot investment toward the Branded Residences segment — luxury properties with high potential — by developing three new projects with a combined value exceeding 25 billion baht to create business opportunities and diversify revenue streams.

The first project in Thong Lo is slated for launch in early 2027, targeting high-end customers seeking city-center residences with hotel-standard services and management. The second project on the Chao Phraya River aims to launch in late 2027, leveraging its unique riverside location and land scarcity as selling points.

The third project in Rayong, within the Eastern Economic Corridor (EEC), targets a late 2027 launch to serve premium residential demand from executives, investors, and personnel linked to the area's industrial and business sectors.

All three projects will be developed in partnership with leading hotel operators, both Thai and international brands, importing hotel service standards and management systems to add value and differentiate from typical luxury residences. The target customer mix is 51% Thai and 49% foreign buyers to expand the international market while maintaining a strong domestic base.

Shifting Hotel Model to Lifestyle Hotels Under Own Brand For the hotel business, the company plans to adjust its investment approach and reduce reliance on traditional hotel revenue by developing lifestyle hotels under its own brand, blending pool villa and hotel formats to create distinctive experiences for diverse traveler segments.

Initial target locations include Phang Nga, Krabi, Pattaya, Chiang Mai, and Rayong — tourist destinations with unique character and potential to attract both Thai and international visitors. The company is currently studying investment models, brand development, and management approaches, with plans to present a detailed new hotel business plan within 2027.

Additionally, the company is exploring new business opportunities.