GROREIT pursues hotel-asset sale, with November liquidation goal conditional on completion

Key summary

One Asset Management (One AM) is proceeding with GROREIT’s proposed sale of its main hotel assets to Orchid Hospitality, Prachachat reported. At a meeting on October 28, 2026, unitholders rejected Royal Orchid Hotel (Thailand) (ROH)’s THB 4,873 million repurchase offer and approved Orchid Hospitality’s THB 5,300 million offer.

According to One AM, the plan requires a THB 100 million deposit at signing, followed by payment of the remaining THB 5,200 million and ownership transfer within 14 days, by November 11, 2026. If the sale is completed, the trust aims to settle liabilities and distribute remaining funds to investors, with termination targeted by the end of November. The sale and liquidation have not been described as completed. The manager said more than 20 potential buyers had made contact, but an auction remains a backup to the approved transaction.

The manager estimated distributions after debt and expenses at about THB 10 of principal plus THB 2 of profit per unit, or roughly THB 12 in total, and cited an internal rate of return near 9%. These are estimates dependent on the transaction and actual liquidation costs. GROREIT has approximately THB 1,350 million in Government Savings Bank borrowings. The manager said distributions have been temporarily suspended since March to retain cash for loan interest, and the repayment term was extended by 6 months to January 2027.

One AM said it filed a case against ROH at the Bangkok South Civil Court on October 21, 2026, alleging lease breaches and failure to return the premises. It also sought interim protection requiring THB 25 million monthly deposits while the property remains occupied. These are the manager’s allegations and requested measures, not reported final court findings. It said it had not received formal papers concerning reports of a counterclaim. Prachachat also reported that the Stock Exchange of Thailand asked ROH to explain business impacts, property handover, when hotel revenue recognition would cease, and its new-business plans by November 4.