PTT Plc, the state-owned SET-listed oil and gas company, is gearing up to choose a hotelier as a partner to build budget hotels at its petrol pumps in November with the selection to be tabled to its board of directors in December, Thai News Agency reported today (Sept. 25).
Attapol Rerkpiboon, PTT vice president, said the selected hotel partner will first be investing in five pilot hotels in 2018 and within five years this will be increased to 50.
Each hotel will have from 30 to 80 units and will be located on two to three rai of land at its pumps with the unit size to be decided by the hotelier.
The five pilot hotels could be located at either dealers’ or PPT’s own pumps and the aim is to make it more convenient for travels to rent a room and rest.
Regarding PTT’s move to list its subsidiary PTT Oil and Gas Company (PTTOR), Attapol said both the Energy and Finance ministries are studying the rental contracts of its assets, mostly petrol pumps located on leased land, which are to be transferred to PTTOR before listing.
If the legal steps can be cleared this year then PTTOR could be listed in 2018 if not then in 2019.
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Top: A PTT Plc petrol pump sign. Photo: Thai News Agency
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