3 options for Royal Orchid Sheraton sale

Matichon•Economy•1d ago

Reader Briefing

One Asset Management (Wan) proposes three options for the disposal of Royal Orchid Sheraton Hotel and Towers assets of GROREIT.

•Wan Asset Management notified the Stock Exchange on September 15 regarding the disposal of Grand Royal Orchid Hospitality assets.
•A trust unit holder meeting for GROREIT is scheduled for October 28 at 14:00.
•Three options for asset disposal are being considered, including sales to Royal Orchid Hotel (Thailand) and Orchid Hospitality Co., Ltd.

•Royal Orchid Hotel (Thailand) Public Company Limited did not execute the buy-back of assets upon the expiration of the lease on July 14, 2026, as required.
•The Board of Directors of Wan Asset Management Co., Ltd., as the manager of the Grand Royal Orchid Hospitality Real Estate Investment Trust (GROREIT), approved the disposal of the Royal Orchid Sheraton Hotel and Towers on September 14.
•Wan Asset Management Co., Ltd. has called for a GROREIT trust unit holder meeting on October 28 at 14:00.
•The first option involves selling the main assets to Royal Orchid Hotel (Thailand) Public Company Limited for 4,873 million baht within 14 days of approval.
•The second option involves selling the main assets to Orchid Hospitality Co., Ltd. for 5,300 million baht within 14 days of approval or if Royal Orchid Hotel (Thailand) Public Company Limited fails to meet conditions.
•The third option allows for the disposal of GROREIT's remaining assets via auction, with Wan Asset Management Co., Ltd. authorized to operate the process.
•The meeting will also consider the termination of the trust, liquidation, and the appointment of a liquidator.

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Alongkorn Prathansatnikorn(อลงกรณ์ ประธานราษฎร์นิกร)

Chief Executive Officer of Real Estate and Trust at Wan Asset Management Co., Ltd.

Wan Asset Management Co., Ltd.(บริษัทหลักทรัพย์จัดการกองทุน วรรณ จำกัด)

The manager of the Grand Royal Orchid Hospitality Real Estate Investment Trust (GROREIT).

Grand Royal Orchid Hospitality(แกรนด์ รอยัล ออคิด โฮสพีทาลิตี้)

The entity whose assets are being disposed of by the trust.

GROREIT

The real estate investment trust managing the Royal Orchid Sheraton Hotel and Towers.

Royal Orchid Hotel (Thailand) Public Company Limited(บริษัท โรงแรมรอยัล ออคิด (ประเทศไทย) จำกัด (มหาชน))

A potential buyer of the main assets for 4,873 million baht who did not execute a previous buy-back agreement.

Orchid Hospitality Co., Ltd.(บริษัท ออร์คิด ฮอสพิแทลลิที จำกัด)

A potential buyer of the main assets for 5,300 million baht.

Stock Exchange(ตลาดหลักทรัพย์)ℹ️

The entity notified by Wan Asset Management regarding the asset disposal.

Royal Orchid Sheraton Hotel and Towers(โรงแรม รอยัล ออคิด เชอราตัน โฮเทล แอนด์ ทาวเวอร์ส)

The main asset/project of GROREIT being considered for disposal.