PTT Oil and Retail to Invest in Traveloka

(02 August 2022, 17:30 +07)  PTT Oil and Retail Business (PTT) has unveiled plans to invest in Traveloka - a travel and lifestyle platform, through its subsidiary, PTTOR International Holdings (Singapore).

Jiraphon Kawswat, President and Chief Executive Officer of PTT Oil and Retail Business, said the travel sector is an area of focus for the company as tourism is one of the major economic contributors to Thailand's economy.

From left: Rajsuda Rungsiyakull, Jiraphon Kawswat and Ferry Unardi

"PTT Oil and Retail Business foresees many opportunities and possibilities that we can realize from this collaboration," said Khun Kawswat. "Not only can this partnership provide new opportunities to PTT in the travel sector, it can also provide additional venues for existing partners and business alliances to grow together and to deliver greater offerings and experiences to customers. Given Traveloka's position as a leading online platform for travel and lifestyle services in Southeast Asia, as well as its strong technology capabilities, I believe there is a range of areas PTT can explore together with Traveloka, to further enhance our tech capabilities."

Collaborations between PTT and Traveloka are expected to provide additional lifestyle solutions to PTT's customers in line its strategy to become an one-stop solution. It is in accordance with also PTT's strategy to focus on 'Outside-In Growth'.

"We see immense value from the collaboration as we see the region growing at a rapid pace, leading to greater opportunities in the industry," said Ferry Unardi, Co-Founder and CEO of Traveloka. "We are excited to work with PTT, with its expertise in creating great businesses with a customer-focused approach, to capture demand and provide enhanced solutions to our customers, while also creating new opportunities for our merchant-partners in Thailand and the region."

Editor's note: Travel News Asia asked Traveloka to expand on what PTT's planned investment entails, the amount, the stake, how it will work, when it will come into effect, how it will affect employees, senior management, decision making, etc. Traveloka responded to say they could share nothing further at the moment.

PTT also recently partnered with Marriott, signing a MOU with the global hospitality company to expand the network of EV Station PluZ to facilitate electric vehicle charging at 30 hotels and resorts across Thailand. The deal is expected to to be gradually rolled out and completed within the second quarter of 2023.

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