PTT Oil and Retail Business Public Company Limited (OR) and Central Plaza Hotel Public Company Limited (Centel), both listed on the Thai stock exchange, have unveiled plans to establish a joint venture aimed at developing and operating budget hotels at PTT petrol stations.
As reported by the Bangkok Post, under the agreement, the two companies will combine OR’s extensive nationwide network of service stations with Centel’s hospitality expertise to create affordable accommodation options for travellers. The initiative is designed to enhance the range of services available at PTT forecourts, transforming them into more comprehensive lifestyle and travel hubs.
OR, which manages a large portfolio of fuel stations across Thailand, has been expanding its non-oil business segments in recent years, including food, beverage and retail offerings. The partnership with Centel marks a further step in diversifying its revenue streams and maximising the commercial potential of high-traffic locations.
Centel, a well-established hotel operator, is expected to oversee hotel management and operational standards, ensuring that the new properties meet recognised service benchmarks while maintaining competitive pricing. The focus will be on delivering convenient, comfortable stays for motorists, domestic tourists and business travellers seeking short-term accommodation along major routes.
It should be noted that the companies have not disclosed detailed financial terms of the joint venture, but the collaboration reflects a broader trend of integrating hospitality services within transport and retail infrastructure.
Full article Thai firms develop hotels at fuel hubs | MarketScreener
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