The South Bangkok Civil Court has accepted a petition from Royal Orchid (Thailand) Public Company Limited (SET: ROH), requesting a temporary halt to the sale of the Royal Orchid Sheraton Hotel and Towers project. The company has reiterated its intention to buy back the hotel despite Grande Royal Orchid Hospitality Real Estate Investment Trust (GROREIT)’s move to sell the property to a third party for THB5.3 billion.
Alongkorn Prathanrasnikorn, Chief Property and Trust Officer at One Asset Management Co., Ltd. (ONEAM), in its capacity as the REIT manager of GROREIT, stated that on November 9, 2026, ROH filed a petition with the court requesting a temporary injunction to suspend transactions under the sale and purchase agreement of the Sheraton Hotel project, which was signed between the trust manager and Orchid Hospitality Co., Ltd., on October 30, 2026, with the trust receiving a deposit of THB 100 million from the buyer on that day.
On the same day, the court granted ROH the petition, requesting the hotel operator to post a security deposit of THB 4.873 billion within 7 days. Failure to post the security deposit within the specified timeframe will render the order null and void.
Alongkorn reiterated that the injunction has temporarily halted the asset sale process to Orchid Hospitality within 14 days following approval from the unitholders’ meeting, which may impact capital returns and distributions to unitholders awaiting proceeds from the asset disposal.
In response, ONEAM, in its capacity as the REIT manager of GROREIT, will instruct Dherakupt Law Office Co., Ltd. to promptly file a petition to revoke the temporary injunction, ensuring that the disposal of the properties and assets of the Sheraton Hotel project proceeds in accordance with the resolution of the 1/2026 trust unitholders’ meeting.
On November 4, 2026, ROH reiterated in a clarification submitted to the Stock Exchange of Thailand that it remains the holder of the hotel business operating license for the disputed property and has filed a lawsuit seeking a court ruling confirming its right to repurchase the asset under the terms and conditions of the relevant agreements.
