ROH Sues GROREIT Trust and Wana AMC to Assert Right to Buy Back Royal Orchid Sheraton Hotel

Key summary

Royal Orchid Hotels (ROH) has filed a lawsuit against the Grand Royal Orchid Hospitality Trust (GROREIT) and Wana Asset Management Company Limited (Wana AMC) at the Bangkok South Civil Court, asserting its right to repurchase the disputed Royal Orchid Sheraton Hotel & Towers property. ROH states it maintains its contractual right to buy back the asset despite claims by Wana AMC that this right has expired. The dispute centers on a counter-suit filed by Wana AMC accusing ROH of breach of contract and tort, while ROH accuses Wana AMC of acting unethically by planning to sell the property for 5,300 million baht or via auction at a trustee meeting scheduled for October 28. ROH warns that any transaction conducted without respecting its repurchase right will be legally challenged.