PTTOR Oil and Retail Public Company Limited (SET: OR) is embarking on an ambitious expansion under the leadership of Mr. Disathat Panyarachun. The company is diversifying its portfolio beyond fuel sales, venturing into lifestyle businesses such as hotels and health & beauty retail.
Currently, PTTOR operates over 1,900 PTT stations across Thailand and nearly 400 in ASEAN countries, with fuel sales as its core business. The new lifestyle ventures will be integrated within PTT stations, catering to existing customers while attracting new ones into its ecosystem.
The health and beauty segment is set to launch in the first quarter of 2024. Initially, PTTOR plans to import beauty and wellness products from South Korea and Japan to be sold in dedicated retail stores within its gas stations. However, the plan is still awaiting approval from the board for investment funding. The company sees this expansion as a strategic move aligned with Thailand’s shifting demographics, particularly the growing aging population, who tend to prioritize health and well-being.
In addition to health and beauty, PTTOR is also planning to introduce Japanese-style budget hotels within its stations. Recognizing the needs of long-distance drivers and corporate travelers, the company aims to provide small, 60-80 room hotels that offer convenience, cleanliness, and safety. The initial phase will see the launch of 20 hotels in major provincial cities, with an estimated nightly rate of 1,000 baht. Currently, PTTOR is in search of the right investment partner to co-develop this budget hotel initiative and bring its vision to life.
