As you would have known, PTT Oil and Retail’s (SET: OR) core business is the sales of its oil in more than 1,900 PTT stations all over Thailand and almost 400 stations in the ASEAN region. Today, PTTOR under the leadership of Mr. Disathat Panyarachun aims to build on the company’s strength by penetrating into other lifestyle businesses, specifically, hotels and health and beauty. These new businesses will be located within PTT stations which will both serve PTT’s current customers as well as attracting new consumers into its ecosystem.
The health and beauty business is set to begin its services as soon as the first quarter of 2024. In the initial phases, PTTOR will be importing beauty and health-related products from South Korea and Japan to be sold at its own store in the gas stations. At the moment, the plan is pending to be proposed to the board of committees for investment budget approval. The company selected to incorporate this business into their retail portfolio because believes it aligns with Thailand’s demographic changes or the rising aging population. A group of people who tend to care a lot about their overall health and wellbeing.
Besides health and beauty is the plan to launch a Japanese Style budget hotels within PTT stations. The company recognizes that long-distance drivers or corporate employees would need a place to lay-over during their long ride to the provinces. A small 60-80 rooms hotel that provides them with convenience while ensures cleanliness and safety can meet such needs. About 20 hotels in major provincial cities will be launched to begin with at an average cost of 1,000 baht per night. Currently, PTT is in the process of searching for the right partner who will become the co-investor and help turn the budget hotel strategy into a reality.