Origin closes sale of ibis Phuket Kata, books more than 400 million baht in cash

Origin Property said it has completed the sale of the ibis Phuket Kata hotel in Phuket, generating more than 400 million baht in extra cash for new investment opportunities.

Chief executive Peerapong Charoon-ek said the transaction was carried out by Origin Hotel, the group’s hospitality and tourism unit focused on recurring income. He said the sale followed Origin’s Build-Operate-Exit-Reinvest asset management model, under which the company develops and operates assets, creates value, and then exits investments to support long-term strategic expansion of its hotel portfolio.

The ibis Phuket Kata is a mid-sized hotel with 258 rooms located in the Kata Beach area of Phuket. The hotel began operations in 2022 under Origin Hotel.

According to the company, the property was developed through cooperation between Origin Hotel and Tokyu Land Asia Co Ltd. The hotel was positioned to serve tourist demand in Phuket, including foreign visitors.

Origin said it continues to operate two other ibis-branded budget hotels under the Accor chain: ibis Hua Hin and ibis Styles Krabi Ao Nang.

The company described Origin Hotel as a recurring-income business covering hotels, serviced apartments, offices and commercial space. It said its hotel business currently has eight operating properties, while additional projects are under development in major tourism cities including Bangkok, Phuket, Chiang Mai and Pattaya.

The Phuket hotel sale marks a fresh cash inflow for the group as it seeks to recycle capital into future hospitality investments.