ONYX Hospitality Group, a leading enterprise within the Italthai Group of Companies, has set an ambitious revenue target of over THB 9,400 million for 2024. This growth strategy is spearheaded by the group’s flagship brands—Amari, OZO, and Shama—which are pivotal in driving this target. The group, under the leadership of CEO Yuthachai Charanachitta, aims for a 19% revenue growth compared to the previous year, reflecting strong recovery and expansion post-COVID-19.
In the first quarter of 2024, ONYX Hospitality Group reported a 29% year-on-year growth, significantly boosted by the influx of Chinese tourists. Thailand remains the second-largest market, with Russia, Japan, Korea, and India also showing strong growth. The group plans to expand its portfolio with over nine new locations by 2025, including properties in Malaysia, China, Hong Kong, Thailand, Laos, and Sri Lanka. Notable upcoming openings include Amari Colombo in Sri Lanka and Amari Vientiane in Laos, both scheduled for Q4 2024, and Amari The Tide Bang Saen in Thailand, opening in 2025.
These properties will feature luxury amenities such as rooftop lounges, executive floors, extensive banquet facilities, and signature spas, catering to both leisure and business travelers. ONYX Hospitality Group also emphasizes sustainability and community-centric practices. The group is committed to energy efficiency, water conservation, and waste management, aligning with the growing demand for eco-friendly travel options. In early 2024, ONYX became the first hotel management company in Asia Pacific to announce a long-term partnership with UNESCO for cultural sustainability, aiming for carbon neutrality. Additionally, the group is expanding its culinary ventures with new restaurant openings, including Prego at Kata Beach, Phuket, and Nila, a restaurant showcasing coastal Indian cuisine. These initiatives reflect ONYX Hospitality Group’s dedication to providing diverse and high-quality hospitality experiences.
With a target of managing over 50 hotels by 2025 and 70 by 2028, ONYX Hospitality Group is on a trajectory to solidify its position as the leading medium-sized hospitality management company in Southeast Asia.
