Royal Orchid Disputes 4.87 Billion Baht Buyback Claim
Royal Orchid disputes GROREIT's decision not to repurchase its Bangkok hotel for 4.87 billion baht, claiming the trustee altered payment terms without authorization and saying it remains ready to complete the buyback under original contract
Royal Orchid (Thailand) Public Company Limited (ROH) has issued a clarification to the Securities Exchange of Thailand following GROREIT's announcement that it will not repurchase the Royal Orchid Sheraton Riverside Bangkok hotel valued at 4.873 billion baht due to changes in payment procedures that deviate from the contract. Managing Director Withawat Wipakul explained that MFC, acting as trustee, had notified the company of a revised payment method that does not comply with the original purchase agreement, and that ROH had requested MFC to correct this breach. On July 14, 2025, the company's authorized representative visited the relevant land office to formally object to the contract violation.
ROH confirmed its intention and obligation to repurchase the property according to contract terms but stated it cannot accept the payment method MFC has proposed, as it contradicts the original agreement. The company emphasized it faces no financial or operational obstacles to completing the buyback and continues to manage the hotel during this process. The company will provide further updates to shareholders and investors once the contract dispute is clearly resolved, pending completion of the repurchase proceedings.