Pictured: Onyx’s team at ITB Asia detailed the firm’s footprint targets.
Thai-headquartered Onyx Hospitality Group has outlined its portfolio growth aims over the next few years.
At the recent ITB Asia travel trade show in Singapore, the hospitality firm unveiled its plan to expand its investments to encompass over 50 properties by 2025, with a further target of reaching 70 properties by 2028.
Presently, Onyx oversees the management of 44 hotels, resorts, and serviced apartments across Thailand, Malaysia, China including Hong Kong, Maldives, Bangladesh and Laos.
These properties fall under the banner of four main brands, namely Amari, Ozo, Shama and Oriental Residence.
Initially in 2024, the focus will be on investment opportunities within southeast Asia, specifically in key markets like Thailand and Malaysia.
Furthermore, the company is actively exploring prospects in markets such as Hong Kong, while also venturing into new territories like Indonesia and Singapore. This strategic expansion aims to drive consistent and substantial growth throughout the entire region.
Already in the pipeline is the 169-key Amari Colombo Sri Lanka, set to open its doors in 2024 in the island nation’s capital. Upon completion the 24-storey property will offer signature Amari features including the street food market style Ahara Gourmet Gallery, Breeze Spa and Voyager Lounge. Other highlights include a rooftop pool, bar and recreation centre and an elevated Thai speciality restaurant.
Additionally, the group has a further nine properties in the pipeline, encompassing all three core brands: Amari, Ozo and Shama.
Yuthachai Charanachitta, Onyx’s CEO, commented: “Our aim is to showcase our unwavering commitment to establishing benchmarks in the hospitality sector and our ongoing expansion within the region.
“With over 50 years of experience in the industry, Onyx Hospitality Group is not only dedicated to delivering an exceptional guest experience but is also deeply committed to fostering sustainable growth in terms of business, society, and the environment by employing a diverse range of strategies and activities. Furthermore, we are in a constant state of development as we strive to establish a leadership position in the MICE market.
“Simultaneously, in another facet of our operations, we persistently extend our investments to foster growth, even in the face of intense competition within the southeast Asian hotel industry.”