The incident occurred in front of the Empire nightclub at about 5:29am, according to Patong Police.
The women were identified as Yasmine Badrane, a 28-year-old Moroccan national, and Rim Amira Rechachi, a 24-year-old French national.
Police said the incident began when one of the women was waiting to use the restroom at the nightclub and became involved in an argument with two Thai women.
A cleaning worker reportedly intervened to separate the group before the foreign women left the venue and walked along Bangla Rd.
According to the police report, the group of Thai women later followed them and assaulted them, causing minor injuries.
One of the victims later discovered that her mobile phone and camera were missing and subsequently filed a complaint with Patong Police seeking legal action against those responsible.
Police have recorded statements from the victims and are reviewing CCTV footage from the area as part of the investigation.
No suspects had been named at the time the report was issued.