Grand Asset reveals its plan for the year 2025, aiming for a total revenue of 5 billion baht from the hotel business 2.5 billion baht and the real estate business 2.5 billion baht. The company is accelerating the distribution of shares in Royal Orchid Hotel Public Company Limited (ROH), with 6 new investors, both domestic and international, expressing interest. A summary of the results will be presented by the end of this month, along with a revised plan to develop hybrid condominiums for both sale and long-term rental (30 years) for foreign investors, marking a first in the industry.

Mr. Witthawat Wipakool, Chief Executive Officer of Grand Asset Hotels and Property Public Company Limited disclosed the operational direction for 2025, stating that Grand Asset aims for a total revenue of 5 billion baht this year, with 2.5 billion baht from the hotel business and 2.5 billion baht from real estate. The hotel business will generate income from 4 hotels, including Royal Orchid Sheraton Riverside Bangkok, The Westin Grande Sukhumvit, Sheraton Hua Hin Resort and Spa, and Sheraton Hua Hin Pranburi Villas, following the sale of Hyatt Regency Sukhumvit at the end of last year. In the real estate sector, revenue will come from 4 projects: Hyde Sukhumvit 11, Hyde Heritage Thonglor, Amatara Residences Rayong, and River Bay Charoen Nakorn, a riverside condominium along the Chao Phraya River.

This year, the hotel business's main revenue will come from Royal Orchid Sheraton Riverside Bangkok, which performed exceptionally well last year with revenue of 1,034 million baht and is expected to continue growing this year, with a revenue target of 1,200 million baht. In the first quarter of this year, the hotel anticipates revenue of 360 million baht, exceeding the set target by 20% compared to the first quarter of last year. This growth is attributed to the enhancement of meeting room facilities into a fully equipped event space with modern technology and a view of the Chao Phraya River, catering to the MICE segment from abroad, as well as the renovation of the "Siam Yacht Club" restaurant and bar, which has increased revenue by over 30% in the first quarter. These two service areas will be the main drivers of revenue growth for Royal Orchid Sheraton Riverside Bangkok throughout this year.

“In addition, Royal Orchid Hotel (Thailand) Public Company Limited will expedite the distribution of shares among minority shareholders, as Grand Asset currently holds a 97% stake. Currently, there are 6 interested investors, including 3 foreign investors and 3 Thai companies, which will be presented to the board for consideration at the end of this month.”

In the real estate sector, the company plans to develop ready-to-move-in condominiums in a hybrid format, offering both units for sale and units for rent for 30 years or more in the Hyde Sukhumvit 11 condominium project near the BTS Nana station and Hyde Heritage Thonglor, a luxury condominium near the BTS Thonglor station, in collaboration with Sumitomo Forestry from Japan. This marks the first time in the industry that hybrid condominiums are being developed for foreign investors.

“The company also has a plan to continuously reduce its debt burden, particularly in repaying maturing bonds. Last year, 4.8 billion baht in bonds were repaid, and this year, there is a plan to repay bonds totaling 3 billion baht, which will come from the operations of the hotel and real estate businesses, as well as cash flow from operations and investments in Royal Orchid Sheraton Riverside Bangkok.”