One Origin, the subsidiary company of Origin Property PLC acquires 3 ibis hotels, French economy segment resorts hotel chain from Erawan Group Plc (ERW), the leading hotel investor in Thailand and ASEAN in 3 main tourist attractions Phuket, Huahin and Kabi total 664 keys, including;
1. ibis Phuket Kata is 5 storey Hotel consists of 258 keys
2. ibis Hua Hin is 6 storey Hotel consists of 200 keys
3. ibis Styles Krabi Ao Nang is 5 storey Hotel consists of 206 keys
“Mr. Pitipong Trinu”Pitipong Trinurak, chief executive of One Origin, said this acquisition is a part of the five-year plan to generate recurring income. The acquisition helped increase the number of properties and create its presence in major tourism destinations as One Origin is set to officially manage three hotels by May 1. the company expects to complete the transactions for the sale and purchase of all assets during the second quarter” (Bangkokpost, 2022).
Origin Property PCL operates three core businesses comprising
1. Residential Development Business. As of the end of Q4/2021, it has developed 98 housing and condominium projects with a total value of over 143.8 billion baht under PARK ORIGIN, The Origin, Origin Plug&Play, KnightsBridge, Notting Hill, Kensington, Hampton and BRITANIA brands.
2. Recurring Income Business. It develops and manages hotels, serviced apartments and retail spaces under One Origin Company Limited.
3. Service Business. It offers property management, property agent and consultancy services with a vision to expand into other businesses continuously and become an end-to-end property developer and solution provider.