ROH explains GROREIT asset buyback delay to SEC

Thansettakij•Economy•16d ago

Reader Briefing

ROH has informed the SEC that the buyback of Royal Orchid Sheraton Riverside Hotel Bangkok from GROREIT was not completed by the July 14, 2026 deadline due to complex funding structures.

•ROH failed to buy back assets from GROREIT by July 14, 2026.
•ROH signed a Term Sheet with a new financial partner on August 14, 2026.
•ROH confirmed its readiness to exercise the buyback right at a price of 4,873 million baht.
•The Royal Orchid Sheraton Riverside Hotel Bangkok continues to operate normally.

Overview

•ROH stated the buyback from GROREIT missed the July 14, 2026 deadline because the funding source structure was complex, causing approvals to take longer than expected.
•ROH signed a Term Sheet with a new experienced fund partner on August 14, 2026 to support the asset buyback funding.
•ROH is currently in the process of conducting Due Diligence on the assets.
•ROH sent letters to MFC as trustee and Wann Asset Management as fund manager to confirm readiness to buy back the assets for 4,873 million baht.
•ROH asserted that the right to buy back the assets did not automatically expire.
•ROH's board resolved to extend the 4,000 million baht loan repayment period to GRAND by another 2 years because GRAND faced liquidity problems.
•ROH's original funding plan involved a special purpose vehicle with loans of 94.5 million USD (approx. 3,118.85 million baht) and shareholder capital of 81.5 million USD (approx. 2,689.50 million baht).
•ROH confirmed that the delay in the buyback process has not affected the operations or services of the Royal Orchid Sheraton Riverside Hotel Bangkok.

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Key Entities

Organization

ROH

The company seeking to buy back assets from GROREIT and which extended a loan repayment period for GRAND.

SEC(ก.ล.ต.)

The regulatory body to which ROH submitted a clarification letter regarding the delayed asset buyback.

GROREIT

The entity from which ROH is attempting to buy back real estate and movable property.

GRAND

A major shareholder holding 97% of ROH that experienced liquidity issues and could not repay a 4,000 million baht loan on time.

MFC

The trustee that modified the payment method via the BAHTNET system.

Wann Asset Management(บริษัทหลักทรัพย์จัดการกองทุน วรรณ)

The fund manager to whom ROH sent a confirmation letter regarding the asset buyback.

Place

Royal Orchid Sheraton Riverside Hotel Bangkok(โรงแรมรอยัล ออคิด เชอราตัน ริเวอร์ไซด์ กรุงเทพฯ)

The hotel property subject to the buyback agreement that remains open for business.