This historic deal marks a new chapter in the 58-year legacy of Montien Hotel, a name synonymous with Thai warmth, timeless charm, and hospitality excellence. "Montien," meaning "royal house" in Thai, has long embodied a welcoming spirit that makes guests feel at home—a tradition Ignite Venture is committed to preserving and enhancing.
Backed by Jade Partners and global investment firm Aura Group, Ignite Venture brings together expertise in capital investment, real estate, and hotel operations. The acquisition includes leasehold rights secured from The Thai Red Cross Society, spanning a prime 10-rai plot in the bustling Silom financial district. The deal is also expected to refresh Surawong Road, one of Bangkok's classic commercial thoroughfares. The accumulated lease value is over 2.5 billion baht for the 25-year term.
As part of the transaction, the previous leaseholder, Tantakitt Co., Ltd., will retain a minority stake in Ignite Venture—ensuring continuity while ushering in a new era of strategic growth. Ignite Venture has also pledged to uphold the values and mission of The Thai Red Cross Society, maintaining the strong ties between the institution and the Montien legacy.
To ensure excellence in operations, Ignite Venture has appointed Conduit House, an experienced Thai hotel operator, to oversee the management of the hotel and associated properties. The partnership blends strategic oversight with on-the-ground operational expertise, reinforcing Montien's reputation for world-class service and hospitality.
"We are honored to be the new custodians of Montien—a brand deeply woven into the cultural and emotional fabric of Bangkok. With thoughtful revitalization and visionary stewardship, we aim to celebrate its heritage while preparing it for the next generation," said Thunyatorn Nattatum, Managing Partner of Jade Partners.
The acquisition is backed by Jade Partners, a boutique private equity firm based in Bangkok, led by Panon Leelamanit, Thunyatorn Nattatum, Adrian Lee, and Tirapat Tangchitnob.
The Montien Hotel Surawong Bangkok has been an integral part of Bangkok's history for decades. With this acquisition, Ignite Venture aims to elevate its offerings while preserving its rich heritage.
"The hotel and tourism sector is a key growth driver for Thailand that has never failed us, proven time and again, and recently has exceeded expectations," added Panon Leelamanit, Director of Ignite Venture. "Thailand is not just a leading destination for tourism but also one of the few countries in the world that enjoys repeat visits due to its hospitable people, outstanding cuisine, and diverse sights and landmarks."
Ignite Venture will focus on bringing the hotel up to world-class standards as a 4.5-star (upper upscale) property, operating competitively with other top global brands in Bangkok and worldwide. This will be achieved through improvements in service offerings, F&B outlets, and renovation works.
The phased renovation is set to begin soon, focusing first on guest rooms, with full revitalization expected by the end of 2025.
"Our renovation plan will enhance the guest experience and reinforce Montien Surawong as a premier hospitality destination in the region," Mr. Panon said.
Source: 124 Communications
