Origin has launched three new business segments: hotels, warehousing, and services, establishing a New S-Curve that drives balanced and sustainable growth. This includes 11 renowned hotel brands with 2,657 rooms, 10 strategically located warehouses, and comprehensive real estate services managing 44,650 families. The hotel occupancy rate for October-November has surpassed 75%, while the warehouse rental rate has exceeded 90%, coinciding with the high season and an increase in tourist arrivals due to visa exemptions. The comprehensive real estate service business has generated over 1.205 billion THB in revenue over the past nine months, laying the foundation for sustainable New S-Curve growth.

Mr. Pirapong Jaroonaek, CEO of Origin Property Public Company Limited (ORI), a comprehensive real estate developer, revealed that over the past 15 years, the company has focused on establishing a foundation for sustainable growth. Therefore, it has not only developed residential projects but has also diversified its portfolio into other real estate-related businesses, including recurring income businesses such as hotels and warehouses, as well as comprehensive real estate services.

In the hotel business, operated under Origin Hotel Co., Ltd. (Public), there are currently 11 hotels with a total of 2,657 rooms, representing a total REIT value of over 16.84 billion THB. Growth has been achieved through partnerships with leading global hotel chains, such as InterContinental Hotels Group (IHG), which operates five hotels including Staybridge Suites Bangkok Thonglor, Holiday Inn & Suites Sriracha-Laem Chabang, and InterContinental Bangkok Sukhumvit. The acquisition of ibis hotels under the Accor group in three tourist city locations, along with the purchase of hotels in potential locations for renovation and further operation, has also contributed to this growth.

Meanwhile, in the warehousing business, under Alpha Industrial Solutions Co., Ltd., there are both built-to-suit and ready-built warehouses distributed across 10 locations in various strategic transport areas, including Samut Prakan, Pathum Thani, Chachoengsao, and Chonburi, totaling over 403,447 square meters of rental space.

“The investments we made earlier are now helping to gradually balance our business portfolio. In the first two months of Q4/2024, the hotel business has an average occupancy rate of 75%, higher than the same period last year, as we have fully opened our services this year and gained more market recognition. Additionally, this coincides with the high season for tourism, and the government has introduced visa exemptions for tourists from new countries. The warehousing sector also shows strong rental rates exceeding 90%,” said Mr. Pirapong.

Mr. Pirapong further stated that for the comprehensive real estate service business under Primo Service Solution Co., Ltd. (Public) or PRI, the company currently manages clients from the upstream to downstream, including construction management, property management, investment property management, interior design and decoration services, and cleaning services, covering a total of 229 projects, which translates to over 44,650 families under management, generating a total revenue of 1.205 billion THB and a profit of 224 million THB over the past nine months.

At the same time, the investment property management business under Hampton Hotel and Residence Management Co., Ltd. (HHR) has an average rental rate of 81%, reflecting the ongoing demand for rental housing in both the Central Business District (CBD) and the Eastern Economic Corridor (EEC), with continuous interest from both Thai and foreign clients.

For Origin Property Public Company Limited (ORI), the business structure is diverse, comprising 1. Residential Development Business that has developed 163 projects (as of the end of Q3/2024), such as Park Origin, So Origin, Origin Plug & Play, Knightsbridge, Notting Hill, Origin Place, The Origin, Kensington, Hampton, Origin Play, Brixton, and Britania, with a total project value of over 253.516 billion THB. 2. Recurring Income Business such as hotels, serviced apartments, and retail. 3. Service Business such as homeowner services, property management, real estate buying, selling, and leasing agency, and real estate consulting. 4. Long-term Mega Trends Business, a new business group with long-term growth potential, including logistics, healthcare, energy, finance, and entertainment, aimed at enhancing the overall quality of life for consumers.