OR, Centara plan budget hotels
PTT Oil and Retail Business (OR) is partnering with Centara Hotels & Resorts to develop budget hotels at PTT service stations and other high-potential locations, as it seeks to increase daily traffic across its nationwide station network to 5 million visits.
PTT Oil and Retail Business (OR) has teamed up with Centara Hotels & Resorts to build budget hotels at PTT service stations and other promising locations. Their goal is to boost daily visits to more than 5 million across the company's 2,000 service stations nationwide. OR's CEO, ML Peekthong Thongyai, explained that the budget hotel venture is part of their strategy to grow their businesses and services to adapt to changing consumer habits and strengthen their station ecosystem.
Centara, holding a 51% stake in the joint venture, will develop six pilot hotels in Bangkok, Ayutthaya, Pattaya, Kanchanaburi, Hat Yai, and Phuket. The estimated investment for these initial hotels is between 700 million and 1 billion baht. If successful, OR plans to expand the concept through franchising, aiming for a network of 50 hotels by 2031.
Each hotel will have five floors, 79 rooms, and 10 capsule rooms, with room rates ranging from 800 to 1,300 baht per night. OR expects the hotels to attract new customers and improve their EBITDA by up to 5 billion baht if daily visits rise to 5 million.
Written by urgent.news from Bangkok Post Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
