Expansion Plans: 9 New Locations for Amari, OZO, and Shama Brands Set to Open at Home and Abroad by 2025, Catering to Tourism Recovery Both Domestically and Internationally

• The expansion strategy solidifies the company's aim to achieve its vision of becoming "The Premier Medium-sized Hospitality Management Company in Southeast Asia."
• ONYX Hospitality Group is moving ahead with its expansion plans to manage over 50 hotels and properties by 2025, and 70 by 2028.

BANGKOK, THAILAND - Media OutReach Newswire - 21 May 2024 - ONYX Hospitality Group, a prominent entity within the Italthai Group of Companies, stands as a premier enterprise in Thailand, excelling in the management of hotels, resorts, serviced apartments, and luxury residences. Its portfolio includes esteemed brands with wide recognition across the Asia Pacific region, including Amari, OZO, Shama, and Oriental Residence, of which operations are guided by the vision of becoming "The Best Medium-sized Hospitality Management Company in Southeast Asia." ONYX Hospitality Group offers a comprehensive range of accommodation brands catering to the diverse needs of both short-term and long-term stays across many countries. These brands are well-equipped to meet the requirements of both business and leisure travelers. Beyond accommodation, ONYX Hospitality Group also manages a variety of businesses in the hospitality industry, such as spas and food and beverage outlets. Some of these include maai spa, Breeze spa, Prego, Amaya, Chom Sindh, and Nila. Yuthachai Charanachitta, the CEO of ONYX Hospitality Group, said: "The company has set an ambitious revenue target of 9,463 million Baht 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% compared to the previous year and 23% compared to 2019, pre-COVID-19 outbreak." Guided by the principle of "A Tailored Approach to Hospitality," ONYX Hospitality Group underscores collaboration with suppliers and partners. 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. In the first quarter of 2024, ONYX Hospitality Group achieved a remarkable year-on-year growth rate of 29%. This growth was fueled 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 ONYX Hospitality Group, with resorts in Phuket and Pattaya enjoying popularity among Thai people for both domestic travel and staycations. Russia ranks third as an important market for ONYX Hospitality Group, 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 Hospitality Group 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 9 additional locations by 2025. These new locations include 3 in Malaysia, 2 in China and Hong Kong, 2 in Thailand, 1 in Laos, and 1 in 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 7 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 renowned Amari brand, popular among Thai and foreign tourists, strategically targets the City MICE, Urban MICE, and resort markets in the upper-upscale segment. Planning to introduce three new properties: Amari Colombo in Sri Lanka 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. Guests can also enjoy a rooftop swimming pool, bar, and recreation area, along with a special Thai restaurant, all offering...