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Italthai’s hospitality arm to open 12 new hotels in Asia

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Italthai is preparing to open 12 new hotels across Asia as the hospitality industry emerges from a lockdown that caused domestic and international revenues to drop 60-70 per cent.

The construction and hospitality giant is the parent company of ONYX Hospitality Group, whose brands include Amari hotels. 
Yuthachai Charanachitta, Italthai's chief executive, acknowledged the company had been affected by the crisis but said it was able to move forward despite severe damage to the tourism sector.
The company experienced a slowing but not a halt in its construction business during lockdown, since the market for power plants, petrochemical and industrial factories escaped heavy impacts.
Meanwhile, the tourism business is in its worst state for 50 years after lockdown restrictions cut revenue by 60-70 per cent. However, Italthais’ 4-5 star hotels and services were able to generate revenue from long-term clients during the pandemic.
Italthai also used the lockdown period as an opportunity to renovate several hotels in Bangkok and train staff to operate an online platform, said Yuthachai.
Promotions to stimulate business and raise confidence among returning guests have been launched, including hygiene measures under the ONYX Clean campaign.
“ONYX Hospitality Group will continue with plans to open 12 new hotels within 12 months and expand its network in Asia Pacific, including China,” Yuthachai said.
Another Italthai business that suffered impacts from Covid-19 was heavy machinery distribution. The company is seeking to change its strategy by adding heavy machines for asphalt and concrete road works, and electrical trucks and drilling platforms for mining.

Published : July 01, 2020

By : The Nation