CENTEL sells Centara Grand Osaka for Bt8bn, leases back operations

Central Plaza Hotel Plc (CENTEL) on Saturday (March 28) reportedly informed the Stock Exchange of Thailand that Centara Osaka Tokutei Mokuteki Kaisha (Centara TMK), a joint venture in which CENTEL holds a 53% stake, had sold the Centara Grand Hotel Osaka to Osaka Namba Investors Godo Kaisha on March 27, 2026.

Before the transaction, a trust will be established to hold the leasehold rights to the land and hotel building, ahead of the sale of the trust beneficiary rights to the buyer, Osaka Namba Investors Godo Kaisha.

The assets involved in the transaction include the leasehold rights to the land, the hotel building, and furniture, fixtures and equipment, with a total value of 38.5 billion yen (8 billion baht). The asset value recorded in Centara TMK’s financial statements as of December 31, 2025, stood at 22.57 billion yen (4.69 billion baht).

Following the sale, Centara TMK will settle all expenses, repay its loans, return funds to shareholders and proceed with the company’s closure.

Centara KK, a wholly owned subsidiary of CENTEL, will continue to lease the assets in order to keep operating the hotel.

Centara Grand Hotel Osaka, CENTEL’s first hotel in Japan, officially opened on July 7, 2023. Located in the heart of Osaka’s Namba district, around 45 minutes from Kansai International Airport and just steps from Namba Station, the hotel features 515 rooms and suites ranging from 27 to 56 square metres, including family rooms designed for children.

The property offers extensive facilities, including meeting and event spaces, co-working areas, a rooftop dining venue, a fitness centre and Japan’s first SPA Cenvaree. Its food and beverage options include rooftop bars and restaurants, Thai cuisine, seafood, coffee and pastries, making it a major lifestyle and hospitality destination in Osaka.