Montien Hotel in Bangkok Acquired by Ignite Venture in Multi-Million Baht Deal
Investment group takes over iconic hotel and associated properties in prime location
Ignite Venture has acquired the Montien Hotel precinct in Silom, a significant deal encompassing the 500-room Montien Hotel Surawong Bangkok, the 179-unit Surawong Residences, the Montien Shopping Mall, and car parking facilities.
The transaction marks a new phase for the 58-year-old Montien Hotel, situated on a 10-rai (around 3.95 acres) leasehold plot secured from The Thai Red Cross Society. The accumulated lease value for the 25-year term is reported to be over 2.5 billion baht.
Ignite Venture, backed by Jade Partners and the Aura Group, brings together expertise in capital investment, property, and hotel management.
Tantakitt Co., Ltd., the previous leaseholder, will retain a minority stake in Ignite Venture. Conduit House, a Thai hotel operator, has been appointed to manage the hotel and associated properties.
Thunyatorn Nattatum, managing partner at Jade Partners, stated the aim is to "celebrate its heritage while preparing it for the next generation." Panon Leelamanit, a director at Ignite Venture, highlighted the resilience of Thailand's hotel and tourism sector.
Ignite Venture plans to upgrade the Montien Hotel Surawong Bangkok to a 4.5-star standard through service improvements, enhanced food and beverage options, and phased renovations, commencing with guest rooms and expected to be completed by the end of 2025.
