PTT, CENTEL form JV to establish a hotel business
PTT will invest THB 346 million for this venture.
PTT Oil and Retail Business Public Company Limited (OR), through its wholly owned subsidiary Modulus Venture Company Limited (Modulus), has formed a new joint venture with Central Plaza Hotel Public Company Limited (CENTEL).
In a bourse filing, OR said Modulus will hold 49% of the registered capital, while CENTEL will hold the remaining 51%. Modulus’s initial investment will not exceed THB 346 million.
The joint venture aims to develop and operate a budget hotel business, in line with OR’s strategy to explore new business opportunities that align with evolving consumer lifestyles and further expand its ecosystem.
CENTEL is the parent company of Centara Hotels & Resorts, a Thailand-based hotel chain.
In a bourse filing, OR said Modulus will hold 49% of the registered capital, while CENTEL will hold the remaining 51%. Modulus’s initial investment will not exceed THB 346 million.
The joint venture aims to develop and operate a budget hotel business, in line with OR’s strategy to explore new business opportunities that align with evolving consumer lifestyles and further expand its ecosystem.
CENTEL is the parent company of Centara Hotels & Resorts, a Thailand-based hotel chain.
