An unknown buyer executed the shares sale and purchase agreement to acquire 99% stake in Erawan Samui Co., Ltd. from The Erawan Group Public Company Limited for approximately THB 530 million.

The Erawan Group Public Company Limited is a hotel investor, developer and operator with a diversified hotel portfolio from luxury to midscale, economy and budget segment across all regions in Thailand and the Philippines. The Company operates through two segments: the hotel business, and the rental and management building business. The Company has approximately 78 hotels in Thailand and the Philippines. Its hotels and resorts consist of Grand Hyatt Erawan Bangkok, JW Marriott Hotel Bangkok, The Naka Island, a Luxury Collection Resort & Spa, Courtyard by Marriott Bangkok, Holiday Inn Pattaya, Novotel Bangkok Sukhumvit 4, HOP INN Thailand, HOP INN Philippines, ibis Pattaya Hotel, and ibis Patong Hotel, among others. Its subsidiaries include Erawan Hotel Plc, Erawan Rajdamri Co., Ltd, Erawan Phuket Co., Ltd, Erawan Chaophraya Co., Ltd, The Reserve Co., Ltd, Erawan Commercial Management Co., Ltd, Erawan Hop Inn Co., Ltd, Erawan Growth Management Co., Ltd, and others.