Onyx Hospitality Group has established a strategic alliance with Singapore Hospitality Holdings to accelerate the growth of its Ozo and Shama portfolio across Asia-Pacific.
The joint venture aims to open 46 Ozo and Shama properties in Asia-Pacific by 2024.
Initially, the partners will focus on investing in new Ozo openings in Bangkok, Phuket, Pattaya and the Maldives. This will complement the existing four Ozo hotels in Thailand, Hong Kong and Sri Lanka, as well as the four properties currently under development in Vietnam, Malaysia and China.
Meanwhile, there are also plans to create new Shama serviced apartments over the coming years. Onyx’s portfolio currently consists of ten Shama properties in China, Hong Kong and Thailand, with a further six under development in Malaysia and China.
Speaking of the partnership, Peter Henley, president and chief executive of Onyx Hospitality Group said: “This is a significant development for Onyx which will help us expand our reach in the select service and extended stay segments regionally. The joint venture with Singapore Hospitality Holdings will accelerate the growth and expansion of Ozo and Shama and help us reach our strategic goal of becoming the leading mid-sized hospitality management company in Asia.”
For more information, visit onyx-hospitality.com