Kudun and Partners successfully assisted Jade Partners and Ignite Venture Co., Ltd., a special purpose vehicle co-sponsored by Jade Commercial Private Equity Trust, in its acquisition—by way of asset sale—of all operating rights and assets relating to the iconic Montien Hotel Surawong Bangkok. This landmark transaction encompasses the 500‐key Montien Hotel, the 179‐unit Surawong Residences serviced apartments, the Montien Shopping Mall and its parking facilities.
Montien Hotel Surawong Bangkok has been a fixture of Thai hospitality for nearly six decades, renowned not only for its elegant, Thai-inspired design and warm service but also for its one-of-a-kind Hainanese chicken rice—a culinary treasure that has delighted both local gourmands and international travelers since the hotel first opened its doors in 1967.
A key highlight of the transaction is the long-term leasehold of a prime 10-rai plot from the Thai Red Cross Society, with a multi-billion Baht lease value. This long-term arrangement underscores the strategic importance of the deal and its potential to reshape the district’s hospitality and commercial landscape.
The deal was led by Peerasanti Somritutai, partner and co-head of Real Estate practice, with key support from Chavisa Jinanarong, Chayakorn Boonsri and Napat Adulyanubap, our associates.
Kudun and Partners is honored and grateful for the opportunity to contribute our experience in real estate and transactional matters to help navigate the complexities of this landmark transaction—reinforcing our position as a leading legal counsel in Thailand’s legal and investment landscape.
Reference:
-
-
Bangkok Post. (2024, April 24). Ignite Venture acquires Montien Hotel precinct in Silom. Bangkok Post. https://www.bangkokpost.com/business/general/3010511/ignite-venture-acquires-montien-hotel-precinct-in-silom
-
The Nation. (2024, April 24). Ignite Venture acquires iconic Montien Hotel precinct in Bangkok’s CBD. https://www.nationthailand.com/business/corporate/40049200
-
Jade Partners. (2024, April 24). Montien Precinct Acquisition. https://jade.partners/montien-precint-acquisition/
-
