PTT Oil and Retail Business Public Company Limited (OR)'s wholly-owned subsidiary, Modulus Venture, established a joint venture with Central Plaza Hotel Public Company Limited (CENTEL) or its affiliate to develop and operate budget hotels. Modulus will hold 49% and CENTEL 51% of the new entity.

This move aligns with OR's strategy to explore new businesses that cater to diverse consumer lifestyles and expand its ecosystem beyond its traditional energy and retail operations.