"One Origin" continues its partnership with the Japanese real estate giant "Tokyu Land Asia" to jointly invest in three Ibis hotels located in Phuket, Hua Hin, and Krabi. This move highlights the potential for growth in popular tourist destinations and reinforces foreign investors' confidence in the company and the outlook for Thai tourism, as the occupancy rates have shown a clear recovery since the country reopened.

Mr. Piti Jarukamjorn, CEO of One Origin Co., Ltd., a recurring income business under Origin Property Public Company Limited (ORI), revealed that the company is committed to forging new partnerships in the recurring income sector with various allies to create sustainable growth opportunities. Recently, they reached a cooperation agreement with Tokyu Land Asia Co., Ltd., a major real estate partner from Japan, to invest in three Ibis brand hotels, which are budget hotels. The hotels include: 1. Ibis Phuket Kata, a 5-story hotel with 258 rooms; 2. Ibis Hua Hin, a 6-story hotel with 200 rooms; and 3. Ibis Styles Krabi Ao Nang, a 5-story hotel with 206 rooms, totaling 664 rooms.

“This collaboration reflects the trust and confidence that Tokyu Land Asia has in One Origin to continue investing in recurring income businesses in Thailand and the potential for growth in Thailand's tourism sector, which is showing signs of continuous recovery. Particularly in tourist cities, the occupancy rates of hotels are nearing pre-COVID-19 levels. Currently, the three hotels have occupancy rates recovering to over 60-70%, demonstrating that Thai tourism has the potential to be a key driver of the country's economy once again. Tokyu Land Asia recognizes the growth opportunities in this business, leading to this joint venture,” Mr. Piti stated.

Previously, the company partnered with Tokyu Land Asia on the mixed-use project “One Origin Phaya Thai” valued at 3.6 billion baht and the Grade A office building project “One Origin Sanam Pao” valued at 4.4 billion baht. This marks the first joint venture with Tokyu in the hotel sector in major urban areas.

Mr. Hidetatsu Ikeda, Chairman of Tokyu Land Asia Co., Ltd., stated that with a vision to expand investments in Southeast Asia, the company prioritizes selecting suitable, reputable, and trustworthy partners for investments in each country. In Thailand, the ongoing joint ventures with One Origin Co., Ltd. and the Origin Property Group across several projects, including the additional investment in the three Ibis hotels, will be another significant step in the company's growth in Thailand. The company plans to continue developing and partnering with One Origin Co., Ltd. and other companies within the Origin Property Group.

All three hotels are equipped with facilities such as restaurants, swimming pools, and meeting rooms, catering to both Thai and international tourists.

Tokyu Land Asia Co., Ltd. is a real estate development and investment company in Southeast Asia under the Tokyu Land Corporation, one of Japan's real estate developers with 67 years of experience. It operates under Tokyu Fudosan Holdings Corporation, a major company listed on the Japanese stock market, included in the Nikkei 225 index, with total assets at the end of the latest fiscal year (March 31, 2022) amounting to approximately 2.634 trillion yen or about 673 billion baht.

One Origin Co., Ltd. operates recurring income businesses under Origin Property Public Company Limited. The company currently engages in various sectors, including hotel businesses, developing hotel and serviced apartment projects, and partnering with leading global hotel brands for management. It has hotels already in operation, such as Staybridge Suites Bangkok Thonglor, Holiday Inn & Suites Sriracha-Laem Chabang, and Staybridge Suites Bangkok Sukhumvit, with several more hotels under development in Bangkok and other major cities in Thailand. Additionally, it has sectors in office buildings, shopping centers, mixed-use buildings, and food businesses.