Origin Hotel, under the ORI Group, has successfully closed the sale of the ibis Phuket Kata hotel, receiving over 400 million baht in extra cash. This move aligns with the strategic plan and agreements with co-investors and partners.

Mr. Pirapong Jaroonaek, CEO of Origin Property Public Company Limited (ORI), a comprehensive real estate development company, revealed that Origin Hotel Public Company Limited, which operates in the hospitality and tourism sector generating recurring income, has completed the sale of the ibis Phuket Kata hotel, receiving over 400 million baht in extra cash. This is in accordance with ORI's strategic asset management process following the Build–Operate–Exit–Reinvest model, focusing on development, operations, and value creation to support long-term hotel portfolio expansion.

“The closure of the sale of the ibis Phuket Kata hotel reflects our success in asset management and value creation, and it aligns with the agreements made with our co-investor partners from the beginning. This also prepares us for future investment opportunities and growth,” Mr. Pirapong added.

The ibis Phuket Kata hotel is a mid-sized hotel with 258 rooms located near Kata Beach in Phuket. It was operated by Origin Hotel since 2022 and developed in collaboration with leading companies, including Origin Hotel Public Company Limited and Tokyu Land Asia, to provide a stay experience that meets the needs of both domestic and international tourists visiting Phuket.

Currently, the company also operates two other ibis brand budget hotels under the Accor chain: ibis Hua Hin and ibis Styles Krabi Ao Nang, both welcoming tourists from Thailand and abroad.

Origin Hotel Public Company Limited is a business group that generates continuous recurring income to develop and create quality projects, including hotels, serviced apartments, offices, and commercial spaces. By collaborating with business partners, it aims to ensure stability and continuous returns, striving to be a leader in the Recurring Income Business sector. Currently, it has three main business groups:

1. Hotel Business - Currently, there are 8 hotels in operation, including Staybridge Suites Bangkok Sukhumvit, Holiday Inn Suites Sriracha, Holiday Inn Express Rayong, ibis Styles Krabi Ao Nang, and ibis Hua Hin, among others. There are also projects under development in tourist cities such as Bangkok, Phuket, Chiang Mai, and Pattaya.

2. Office Building Business - Currently operates one building named Origin Complex Sanampao, with a total area of 32,200 square meters.

3. Commercial Development Business - Currently includes 5 locations with a total area of 17,425 square meters, such as Portobello Mall and Neighbor 24.

For Origin Property Public Company Limited (ORI), the business structure is clearly defined as a Holding Company that invests in subsidiaries and joint ventures, both listed and unlisted, with five main business groups:

(1) Real estate development for sale in the condominium sector under Origin Vertical Corporation Limited or ORIGIN VERTICAL.

(2) Real estate development for sale in the housing sector under Britannia Public Company Limited or BRI.

(3) Service business under Primo Service Solution Public Company Limited or PRI.

(4) Hospitality and Tourism & Service business under Origin Hotel Public Company Limited or ORIGIN HOTEL.

(5) Logistics and Warehouse business under Alpha Industrial Solution Limited or ALPHA.