Benchasiri Park Property buys Bangkok’s Montien Riverside Hotel for over $94.5 million
BANGKOK — Benchasiri Park Property has acquired the Montien Riverside Hotel in a deal valued at more than 3 billion baht ($94.5 million), according to hotel industry sources cited by Matichon. The purchase ends the Montien brand’s decades-long presence on the Chao Phraya River and marks another major asset shift for one of Thailand’s oldest Thai-owned hotel groups.
The Montien brand, founded by the Tantakit family, built its reputation on traditional hospitality and its famed “Montien chicken rice.” The riverside property, which opened in 1994, is a 29-story, five-star hotel with 462 rooms on more than 13 rai (5.14 acres) of land along Rama III Road.
The transaction follows another significant selloff in April 2025, when Montien Hotel Surawong concluded a 25-year leasehold sale to Ignite Venture Co. for more than 2.5 billion baht (USD 78.7 million). That deal included the 500-room Montien Surawong, the 179-unit Surawong Residence, the Montien Shopping Mall and parking facilities.
Montien Surawong opened in 1967 and became a prominent landmark in the Silom–Surawong area, known for its geometric architecture and interior murals by artist Paiboon Suwannakudt, a protégé of national artist Silpa Bhirasri.
The property once drew a steady mix of travelers, entertainers, political figures and members of royal families, offering accommodations, dining and live performances at the Montienthong Theater.
But shifting consumer preferences and intensifying competition from international hotel chains eroded the group’s position. A renovation completed in 2020 failed to reverse losses as the reopening coincided with the COVID-19 pandemic, which severely reduced tourism and contributed to years of financial strain.
Benchasiri Park Property Co., established in 2005 with registered capital of 750 million ($23.6 million) baht, operates hotels, resorts and serviced suites. Its portfolio includes the Bangkok Marriott Hotel Sukhumvit. The acquisition of the Montien Riverside is expected to strengthen the company’s foothold in Bangkok’s premium hospitality segment as demand in the riverside market continues to recover.
https://www.khaosodenglish.com/news/business/2025/12/12/benchasiri-park-buys-montien-riverside-for-over-94-5-million/
