Royal Orchid Hotel (Thailand) to Close Bangkok Hotel Asset Buyback in August

MT Newswires Live

Jul 15

Royal Orchid Hotel (Thailand) (SET:ROH) expects to complete the repurchase of assets used in the operation of the Royal Orchid Sheraton Riverside Hotel Bangkok from Grande Royal Orchid Hospitality Real Estate Investment Trust (GROREIT) by August.

The company said it is coordinating with the lender and the REIT manager to carry out the transaction under the sale-and-leaseback with buy-back option structure approved by shareholders on July 7, according to a Wednesday Thailand Exchange filing.

Royal Orchid Hotel will continue managing the hotel during the process and will update shareholders once the transaction is completed, it said.

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