Royal Orchid Sheraton sale paused by interim court order
Royal Orchid Hotel (Thailand) must deposit 4.873 billion baht as security within seven days to keep an injunction suspending the asset sale in force.
- The sale of the Royal Orchid Sheraton Hotel & Towers has been suspended by an interim court order issued by the South Bangkok Civil Court.
- The injunction was requested by Royal Orchid Hotel (Thailand) Public Company Limited, which must deposit 4.873 billion baht as security for the order to remain in effect.
- Trust manager One Asset Management is challenging the court order and will petition for its revocation to allow the sale to proceed.
- As a result of the sale's suspension, capital repayments and returns to the investment trust's unitholders will be delayed.
An interim court order has suspended the sale of Royal Orchid Sheraton Hotel & Towers assets, with trust manager One Asset Management Limited indicating that capital repayments and returns to unitholders will be delayed. The South Bangkok Civil Court issued the order on November 9, 2026.
Royal Orchid Hotel (Thailand) Public Company Limited (ROH), which applied for the injunction on November 9, must deposit 4.873 billion baht as security within seven days. The court order will lapse if ROH fails to provide the security within that period.
Alongkorn Prathanrasnikorn, chief property and trust officer at One Asset Management, outlined the development in a filing to the Stock Exchange of Thailand. One Asset Management manages the Grande Royal Orchid Hospitality Real Estate Investment Trust with Buy-Back Condition (GROREIT).
One Asset Management to challenge injunction
One Asset Management will instruct Dherakupt Law Office Co., Ltd. to petition for the revocation of the interim order as soon as possible. The company aims to allow the hotel asset sale to proceed in accordance with the resolution of GROREIT Unitholders’ Meeting No. 1/2026.
GROREIT sale timetable paused
One Asset Management said the injunction temporarily suspends the running of the 14-day period for completing the asset sale to Orchid Hospitality Company Limited following unitholder approval.
MFC Asset Management Public Company Limited, acting as GROREIT’s trustee, signed the sale and purchase agreement with Orchid Hospitality on October 30, 2026. The agreement covers the real estate and movable assets of the Royal Orchid Sheraton Hotel & Towers project.
GROREIT has already received a 100 million baht deposit under the sale agreement.
