PTT Oil and Retail Business Public Company Limited (SET: OR) is diversifying its portfolio by entering the budget hotel market. In a formal disclosure to the Stock Exchange of Thailand, OR announced that its subsidiary, Modulus Venture, will form a joint venture with Central Plaza Hotel Public Company Limited (SET: CENTEL).
Under the agreement, CENTEL will hold a 51% majority stake, while Modulus will maintain 49% with an initial investment not exceeding THB 346 million. The partnership, approved by the OR Board on February 10, 2026, focuses on developing and operating budget hotels to capture evolving consumer trends.
This move aligns with OR’s “All Lifestyles” strategy, aimed at strengthening its business ecosystem through new retail and service opportunities. Although the transaction size falls below the threshold requiring mandatory disclosure for asset acquisitions, OR management opted for transparency to ensure all investors have fair access to material information regarding the new joint control entity. This venture marks a significant step in OR’s ongoing evolution into a broader lifestyle-service provider.
