Thai Conglomerate PTT OR Becomes Traveloka's New Investor

PTT Oil and Retail Business (PTT OR) has announced that it will invest in the online travel agency (OTA) platform Traveloka through its subsidiary, PTTOR International Holdings Singapore. According to PTT OR's official statement, the expansion into the travel sector marks the company's commitment to providing a one-stop solution for all lifestyle-related business lines. Meanwhile, Traveloka believes that the investment will open up many opportunities in the tourism sector, allowing partners to grow. PTT OR president and CEO Jiraphon Kawswat said that the investment was in line with the company's focus on tourism as one of the economic contributors to the Thai economy. Most of Thailand's population and many Thai small and medium enterprises (SMEs) depend on this segment.

The business collaboration between PTT OR and Traveloka will provide additional lifestyle solutions to customers and “can also provide an additional venue for OR's existing partners and business alliances to grow together and to deliver greater offerings and experiences to OR customers,” Kawswat wrote in a press release on Thursday.