Onyx eyes more hotels despite shaky global economy
Onyx Hospitality Group, which specialises in hotel management, intends to expand further in spite of the tough economic situation expected to continue into next year due to the US-China trade war, Brexit, Hong Kong protests and the baht’s appreciation.
“Onyx plans to manage six to nine more hotels and accommodations in the next year, aiming to hit the long-term target of having 99 locations – including resorts and serviced apartments – by 2024 managed under the main Amari, Shama and OZO brands,” said president and chief executive Douglas Martell.
“The targeted number is twice the current operation in Thailand, Laos, Malaysia, China, Maldives, Sri Lanka and Bangladesh,” he said. “Meanwhile we have 20 projects under development, so it is possible to achieve our target and become the best middle-hotel management company in Asia-Pacific.”
Among the new ventures are the Amari Jomtien, Shama Wongamat Pattaya and OZO Phratamnak in Pattaya, which the company signed to manage with Ratanakorn Asset Co Ltd late last month. They will open from 2022 to 2025.
“Next year Onyx aims to open OZO Pattaya near the 47-year-old Amari Pattaya, positioning the company as one of the biggest hotel owners in Pattaya,” said Martell. “The Amari Watergate Bangkok’s rooms and back-of-house area will also be renovated on a Bt1.4-billion budget, following a partial renovation a few years ago, while hotels in Phuket, Samui and Pattaya were renovated on a total budget of Bt5 billion.”