Onyx Hospitality, a major player in the hospitality industry of Thailand and Asia-Pacific region has recorded a growth of 29 pc in revenues in Q1 2024 and is targetting a 19 pc growth in the whole year.

In a press statement, Onyx, which is part of Italthai Group of Companies, and manages hotels, resorts, serviced apartments and luxury residences, says its ambition is to become the best medium-sized hospitality management company in southeast Asia.

It says it offers a comprehensive range of accommodation brands catering to the diverse needs of both short-term and long-term stays across many countries. Beyond accommodation, the company also manages a variety of businesses in the hospitality industry, such as spas and food and beverage outlets.

Yuthachai Charanachitta

“The company has set an ambitious revenue target of THB 9,463 million for 2024. The Amari and Ozo brands are pivotal in driving this revenue goal, with the Shama brand also experiencing consistent positive growth due to increasing market demand. Moreover, Onyx Hospitality Group’s efficient management, supported by over five decades of experience, has earned the trust of its customers and business partners. This trust is reflected in the long-term contracts through which they conduct business together. The company’s 2024 revenue target aims for a growth of more than 19 pc compared to the previous year and 23 pc compared to 2019, pre-Covid-19 outbreak,” says Yuthachai Charanachitta, CEO, Onyx Hospitality Group.

The statement adds that leveraging over five decades of expertise and experience, alongside a deep understanding of the Southeast Asian travel industry, the company meets business requirements with flexibility as a key organisational strength, enabling the development of strategies driving exceptional growth.

It adds that its growth in Q1 2024 was fuelled by tourism recovery, particularly an increase in the number of Chinese tourists. As a result, Chinese travellers have surged to become Onyx Hospitality Group’s top revenue source, for the first time since the Covid-19 outbreak. Thailand remains the second-largest market for the company, with resorts in Phuket and Pattaya enjoying popularity among Thai people for both domestic travel and staycations. Russia ranks third, particularly for resorts in Phuket and Pattaya. It continues to be the key market, alongside other growing markets such as Japan, Korea, and India, showing strong year-over-year growth.

Onyx currently operates a diverse portfolio of hotels, resorts, and serviced apartments across Thailand, Malaysia, China, Hong Kong, Bangladesh, and Lao PDR. The company is actively expanding its presence both domestically and internationally, with plans to open more than nine additional locations by 2025. These new locations include three in Malaysia, two each in China, Hong Kong and Thailand and one each in Laos and Sri Lanka, among others.

In Malaysia, Onyx Hospitality Group is gearing up for expansion with the introduction of three new hotels, Ozo Medini, Shama Medini, and Shama Suasana Johor Bahru. This move will increase its portfolio of hotels in Malaysia to a total of seven locations, making Malaysia the first country outside Thailand to feature all three of Onyx’s brands, including Amari, Ozo and Shama. This aligns with Onyx Hospitality Group’s vision and focus on Southeast Asia, leveraging Malaysia’s tourism potential and capacity to cater to the MICE market.

The Amari brand, popular among Thai and foreign tourists, strategically targets the City MICE, Urban MICE, and resort markets in the upper-upscale segment. The group is planning to introduce three new properties, including Amari Colombo in Sri Lanka, that is scheduled to open in Q4 2024. The 27-storey tower will boast 167 rooms and suites, a signature restaurant and a spa operating round-the-clock. The second, Amari Vientiane in Laos, is also scheduled to open in Q4 2024, marking Amari’s second hotel brand in Laos after Amari Vang Vieng Hotel.

Amari Vientiane boasts an array of amenities, including an all-day dining restaurant, 248 meticulously decorated guest rooms, a rooftop executive lounge, a rooftop specialty restaurant, a rooftop bar, extensive banquet facilities, a ballroom, and a conference room.

The third Amari is Amari the Tide Bang Saen in Thailand that is scheduled to open in 2025. Situated on the lively promenade opposite the renowned Bang Saen Beach, the hotel offers a comfortable retreat in the heart of this tranquil seaside city. Just under 90 minutes by car from Bangkok, guests can easily explore nearby tourist attractions, coffee shops, and local restaurants along the seaside. The property offers 154 guest rooms in seven styles, catering to families and business travellers visiting nearby industrial estates or attending special meetings and events. Additionally, it boasts five meeting rooms capable of accommodating up to 1,000 guests.

In addition to the launch of Amari’s new hotels and residences, in late 2024, the brand will see another significant development with the official opening of Amari Bangkok. Having undergone renovations and rebranding from “Amari Watergate Bangkok”, the property aims to become the city’s premier destination, catering to leisure, business, and MICE travellers.

The newly renovated Amari Bangkok features all-new premier rooms and suites boasting contemporary interior decor. To cater to travellers from around the globe, several new restaurants have been added, including the intriguing “Nila” and “Chom Sindh”. Additionally, the hotel is gearing up to introduce “maai spa” following the successful launch of the “maai spa” brand by Onyx Hospitality Group, with the first branch opening at Amari Pattaya in 2023.

Yuthachai highlighted that each of the company’s brands has demonstrated remarkable growth. Apart from the Amari brand, another prominent brand under Onyx Hospitality Group is “Shama”, which currently boasts over 2,500 accommodation units across 20 properties. Particularly in Thailand, Shama has experienced a growth of up to 200 pc within five years. In Hong Kong, “Shama” is regarded as a leader and holds the position of No 1 international serviced apartment provider with seven properties.