ONYX Hospitality Group shares expansion strategy update - Insights
Properties

ONYX Hospitality Group shares expansion strategy update

Thailand-based ONYX Hospitality Group has reinforced its expansion plan, with a strategic focus on its home territory of Thailand and neighboring destination, Malaysia. The leading Asian hospitality group is on track to operate 54 properties by 2025. ONYX currently operates 44 properties, with an additional 10 properties in development.

BUSINESS UPDATE

Commenting on the group’s recent performance, Mr. Yuthachai Charanachitta, Owner & CEO, of ONYX Hospitality Group said:
“Since the pandemic, we have been affected by the same issues as the rest of the hospitality industry. The financial instability of some source markets is forcing us to evaluate and re-focus our marketing efforts. Thailand has bounced back relatively quickly, thanks to the government’s intervention, but the recent challenge will take some time to overcome. I am grateful that we have a clear and cohesive growth strategy that aims to minimise the impact of external factors on our business.”

“In addition to expanding our regional footprint, we are also poised to reposition our three core brands, Amari, OZO, and Shama in response to the evolving consumer landscape, this includes the recent refresh of some of our existing key properties. Competition is fierce, particularly in Thailand, and we need to make sure we are consistently working on our brand appeal for both investors and guests.”

LATEST OPENINGS AND DEVELOPMENTS

ONYX has reinforced its expansion plans with a strategic focus on its home territory of Thailand and neighboring destination, Malaysia, which is set to become the first country outside of Thailand to operate all three ONYX brands, Amari, Shama, and OZO. ONYX is also excited to be expanding its footprint in the Maldives, Laos, Sri Lanka, Hong Kong, and Japan.

Amari SPICE Penang- Opened 9 September 2022

Directly connected to SPICE Convention Centre, Amari SPICE Penang provides convenient access to SPICE Arena, SPICE Aquatic Centre and SPICE Canopy. All 453 guest rooms and suites offer home-from-home warmth and convenience. The Executive Floors and Suites come with private access to the Executive Lounge, offering an elevated level of personalised service along with complimentary daily breakfast, evening cocktails, and appetisers and beverages.

Amari Kuala Lumpur – Opened 19 September 2022

Set in Malaysia’s rapidly developing capital, Amari’s new 252-room hotel is directly connected to Aspire Tower, KL Eco City Mall, and The Garden Mall. Business hubs and culturally rich hotspots are also within easy reach.

Enhancing the group’s existing portfolio

ONYX is investing and developing its existing portfolio of properties to ensure they continue to engage guests. Following the 100 million USD investment to redevelop the iconic Amari Pattaya and OZO North Pattaya, Amari Watergate in Bangkok has also completed its own recent refurbishment, investing 32 million USD. The upgrades include a new collection of premier rooms and suites with contemporary interiors inspired by the life and culture of the Watergate neighbourhood. Samui’s favourite Italian restaurant Prego is also poised to make its Bangkok debut later this year.

FUTURE PLANS

As ONYX strives towards its goal of becoming Asia’s leading hospitality provider, a number of exciting signings and openings across the portfolio are planned for next year and beyond.

Malaysia set to be first country to operate all three ONYX brands, outside of Thailand

ONYX currently operates Amari Johor Bahru and OZO Georgetown Penang, as well as the newly opened Amari SPICE Penang and Amari Kuala Lumpur. The strategic expansion in Malaysia is set to continue with OZO Medini Iskandar (Q4 2022), Shama Medini Iskandar (Q1 2023). This will bring the total number of properties in Malaysia to six in 2023.

Shama to double its presence in Bangkok by the end of 2022

Serviced apartment brand, Shama is also reinforcing its position in Bangkok’s thriving short- and extended-stay market. Shama Yen-Akat opened earlier this year, and in October, Shama Petchburi 47 (formerly Amari Residence Bangkok) and Shama Ekamai Bangkok (Formerly Ekamai Gardens Bangkok) joined the current Shama portfolio, bringing the total number of Shama’s in the city to six, by the end of 2022.

Amari’s second property in the Maldives set to open in Q1 2023

The opening of Amari Raaya Maldives is slated for Q1 2023. The 200-villa private island resort will occupy a secluded island in the Raa Atoll, located northwest of the Maldivian capital of Male. The resort will feature, seven dining concepts, a Maai Spa, and a kids club. Amari Maldives will join Amari Havodda Maldives, further boosting the brand’s presence in the Maldives.

Amari Colombo Sri Lanka – Opening 2023

Upon completion, the 24-storey property will offer 180 rooms and suites along with signature all-day dining restaurant, spa and Voyager Lounge. Other highlights include a rooftop pool, bar and recreation centre and a Thai specialty restaurant, all offering unparalleled views of the ocean and the city skyline. The hotel will also offer dedicated executive floors with access to an executive lounge.

Tags: , ,

Related Courses

Related Articles

Radisson arrives in Cyprus with Radisson Beach Resort Larnaca
Radisson Hotel Group continues to strengthen its presence in Africa

You might also like:

Join over 60,000 industry leaders.

Receive daily leadership insights and stay ahead of the competition.

Most popular:

Popular this week: