‘One Origin Public Company Limited’ or <\/strong>ONEO <\/strong>has invested over <\/strong>791 <\/strong>million baht to acquire <\/strong>two hotels <\/strong>in prime locations for Thailand's tourism strategy, namely Chiang Mai and Phuket, adding to its hotel and service business portfolio. The company is preparing for a minor renovation (Minor Renovation) <\/strong>to align with the recovery of Thailand's tourism industry, thereby strengthening its recurring revenue base. The new services are expected to launch in the second quarter of 2024 <\/strong>under the names “One Origin Chiang Mai Nimman” <\/strong>and “One Origin Phuket Chaofah” <\/strong>.

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Mr. Piti Jarukamjorn, Chief Executive Officer of One Origin Public Company Limited (ONEO), a property development company focused on recurring income business under Origin Property Public Company Limited (ORI), stated that “ONEO” <\/strong>has invested in acquiring two hotels in strategic tourism locations in Thailand: Green Palette Hotel in Chiang Mai, under One Origin Chiang Mai Nimman Co., Ltd., and B-Hive Boutique Hotel in Phuket, under One Origin Vichit Phuket Co., Ltd. Both are subsidiaries of ONEO, with a total investment and renovation budget of approximately 791 million baht. ONEO plans to renovate the hotels to align with its brand and will operate under the names One Origin Chiang Mai Nimman <\/strong>and One Origin Phuket Chaofah, expected to open in the second quarter of 2024.

The One Origin Chiang Mai Nimman <\/strong>project will be transformed into a premium hotel with 102 rooms and one restaurant, covering nearly one rai, located on Sirimangkalacharn Road in Chiang Mai, close to popular walking streets and shopping areas such as Nimman Think Park and Maya Lifestyle Shopping Center, which features design shops, restaurants, and leading cafes. It is also near Chiang Mai University and Chiang Mai International Airport, targeting young travelers who enjoy lifestyle tourism and seek stylish accommodations with convenient access.

The One Origin Phuket Chaofah <\/strong>project will be a midscale hotel consisting of two buildings with 249 rooms and two restaurants, along with amenities such as a swimming pool, playground, and fitness center, situated on over three rai in Phuket Town, about 5 kilometers from the city center. The target clientele includes both Thai and international tourists who enjoy exploring Phuket Town and those looking for budget-friendly hotels with good facilities.

Chiang Mai and Phuket are renowned as popular tourist destinations in Thailand, attracting both Thai and foreign visitors. Chiang Mai is known for its unique Lanna charm, encompassing traditions, culture, and cuisine, along with natural attractions like mountains and flower gardens, perfectly blending with lifestyle tourism for the new generation. The government aims to promote Chiang Mai as a Chiang Mai <\/span><\/span><\/em> Festival City, while Phuket offers a unique blend of city atmosphere, local culture, and island vibes, catering to all tourist preferences.

“The government’s economic policies are expected to stimulate Thailand’s economy, with the tourism sector improving as the number of Thai and foreign tourists increases, which is a positive factor for our business operations. Therefore, investing in these two hotels will promote rapid growth, reduce project development time, accelerate revenue recognition, and support sustainable growth while increasing opportunities to penetrate high-potential tourist cities,” Mr. Piti <\/strong>said.

One Origin Public Company Limited (ONEO) is a developer and operator of properties in the hotel and service business, as well as rental properties that generate recurring income. It is part of Origin Property Public Company Limited and currently operates various business segments, including hotels and services, developing hotel and serviced apartment projects in collaboration with leading global hotel brands. Existing hotels include 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 tourist cities. Additionally, it has retail and office building segments, mixed-use buildings, food and beverage businesses, project management services within ONEO’s business, and investment property management programs.