Onyx Hospitality Group is looking to expand its portfolio to the "CLMV" countries of Cambodia, Myanmar, Laos and Vietnam, as well as to Malaysia, as it positions itself to reap the benefits of upcoming Asean economic integration.
The Thailand-based hotel group, whose goal is to become one of Asia’s leading hospitality management chains, also aims to add another 40 properties over the next six years to its current portfolio of 34 hotels and serviced residences.
“Following the great advantages presented by the Asean Economic Community, which comes into effect in 2015, the tourism and travel sector will allow free movement, particularly for transportation, tourists and related business in the region. It will be a great opportunity for us if we have a network in those countries,” Peter Henley, president and chief executive officer of Onyx Hospitality Group, told The Nation.
“It also seems that room supply in the Kingdom has almost reached saturation point, so overseas expansion becomes more important for the group,” he said.
Onyx’s 34 operational properties include the Amari hotel and serviced-apartment formats. The group has four brands: Amari, for upscale hotels and resorts; Saffron, which comprises luxury hotels and resorts; Shama, for luxury boutique serviced apartments; and Ozo, a budget property brand.
Seven properties are under construction and due to be opened by 2015. In the Kingdom, the Ozo Chaweng Samui is scheduled to be opened next year, and the Amari Residences Pattaya in 2015.
Overseas properties set for opening this year are the Amari Ludhiana in India, the Ozo Wesley in Hong Kong, Shama Heda in the Chinese city of Hangzhou. The Ozo Colombo in Sri Lanka will open in 2014, followed by the Shama Lux Bundside East in Shanghai in 2015.