B5.3bn sale of Royal Orchid Sheraton approved

Unitholders of the Grande Royal Orchid Hospitality Real Estate Investment Trust (GROREIT) have approved the sale of the Royal Orchid Sheraton Hotel in Bangkok to a new investor for 5.3 billion baht, rejecting a lower buyback offer from the luxury property’s original owner, SET-listed Royal Orchid Hotel (Thailand) Plc.

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