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Thai hotel group looking to expand abroad
By Tom Walker
Thailand-based domestic hotel management company Amari has launched a new subsidiary to lead its expansion into the international market.
ONYX Hospitality has been set up to pursue opportunities beyond Thailand and will actively look to secure management contracts in Asia Pacific and the Middle East.
Amari has also created two new hotel brands – a luxury brand, Saffron and a select services offering named Ozo – under which it plans ONYX to operate any future properties.
Yuthachai Charanachitta, Owner of ONYX, commented: "We will be investing US$44.1m (€32,m, £28.9m) in a corporate growth strategy which will see new properties introduced across the portfolio of brands.
“We want to position ONYX as a market leader in hospitality management in the Asia Pacific region."
The first property in the Saffron portfolio will be the Oriental Residence Bangkok, which is currently under construction and scheduled to open its doors in 2011.
The creation of ONYX comes just three months after Amari first announced its expansion plans (in December 2009).
Thailand-based domestic hotel management company Amari has launched a new subsidiary to lead its expansion into the international market.
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