Thailand-based ONYX Hospitality Group will share its aggressive expansion plans and optimistic revenue target for 2023, conveying its full confidence in tourism recovery, at ITB Berlin 2023, which opened today.
The leading Asian hospitality group is on track to operate 54 properties by 2025. ONYX currently operates 44 properties, with an additional 11 properties in development.
ONYX Hospitality Group’s portfolio consists of hotels, resorts and serviced apartments under three core brands: Amari, its upper-upscale brand that aims to deliver memorable experiences to hotel guests; OZO, the lifestyle hotel brand that focuses on delivering a great night’s sleep and fun; and Shama, the serviced apartment brand immersing guests into their new neighborhoods; whether staying just a few days or for a while.
ONYX Hospitality Group’s portfolio includes 44 properties across Thailand, Malaysia, and China including Hong Kong, Maldives, Bangladesh and Lao PDR. Out of these, 18 per cent are invested by the group and 82% under management contracts.
Business update
ONYX Hospitality Group’s properties, both owned and managed, are expected to generate $260 million in revenue in 2023, signifying a 60 per cent increase from the previous year.
This optimism stems from the number of advance bookings from markets, including Europe. German bookings are up 33 per cent on Q1 2023 compared to the same period in 2019. Overall, European bookings are up 44%, it said. This projected growth can be attributed to the increased appetite for travel and tourism recovery across certain markets.
Commenting on the target, Owner and CEO of ONYX Hospitality Group, Yuthachai Charanchitta, said: “After an unprecedented and challenging period for travel, we are so pleased to see our international visitors return in abundance. With new properties to showcase and refreshed product and services across our much-loved hotels and resorts, we look forward to welcoming guests again to ONYX properties.”
New Openings
ONYX has reinforced its expansion plans with a strategic focus on its home territory of Thailand and neighbouring destination, Malaysia. ONYX is also excited to be expanding its footprint in the Maldives, Laos, Sri Lanka, Hong Kong and Japan.
Amari Spice Penang – soft-opened: 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, appetisers and beverages.
Amari Kuala Lumpur – soft-opened: Set in Malaysia’s rapidly developing capital, Amari’s new 252-room hotel is directly connected to Aspire Tower, as well as the city’s shopping hubs including KL Eco City Mall and Mid Valley Megamall. Business hubs and culturally rich hotspots are also within easy reach.
Enhancing the groups existing portfolio
ONYX is investing and developing its existing portfolio of properties to ensure they continue to engage guests. Following the $100 million 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. The upgrades include a new collection of premier rooms and suites with contemporary interiors inspired by life and culture of the Watergate neighbourhood. Samui’s favourite Italian restaurant Prego has also made its debut at Amari Watergate Bangkok and Amari Pattaya, welcoming guests with its authentic Italian cuisine honed by Chef Marco Boscaini.
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.
Under the plan, Malaysia will become the 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 (Q3 2023), Shama Medini Iskandar (2024). This will bring the total number of properties in Malaysia to six in 2023.
Meanwhile, the 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 Residences 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. This month, the brand will also be introducing Shama Luxe Sukhumvit Bangkok (formerly Shama Sukhumvit 39), the first Shama Luxe in Bangkok located in city’s upscale Thonglor neighbourhood with premium finished apartment ranging from 1-bedroom to the Penthouse.
Amari’s second property in the Maldives, Amari Raaya Maldives, is set to open in early summer 2023. The 187-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 Raaya Maldives will be ONYX’s second property in the Maldives.
The 24-storey Amari Colombo Sri Lanka will open in 2024. It will offer 180 rooms and suites along with signature all-day dining restaurant and spa.
