Key points
- ONYX Hospitality Group, one of Southeast Asia’s most respected homegrown hospitality brands, has unveiled an ambitious roadmap for the second half of 2025, anchored by the launch of a new leasehold real estate investment trust (REIT) and the aggressive expansion of its hotel portfolio.
- With a proven track record in managing hotels, serviced apartments, and luxury residences across the region, the Thai-owned group is taking a major step toward sustainable, asset-light growth through the newly filed ONYXRT.
- A defining moment in ONYX’s journey is the establishment of ONYXRT, a new leasehold REIT already filed with Thailand’s Securities and Exchange Commission.
Bangkok Hotel News: Mid 2025 Marks a New Era for Thai-Owned Hotel Group
ONYX Hospitality Group, one of Southeast Asia’s most respected homegrown hospitality brands, has unveiled an ambitious roadmap for the second half of 2025, anchored by the launch of a new leasehold real estate investment trust (REIT) and the aggressive expansion of its hotel portfolio. With a proven track record in managing hotels, serviced apartments, and luxury residences across the region, the Thai-owned group is taking a major step toward sustainable, asset-light growth through the newly filed ONYXRT.
CEO Yuthachai Charanachitta announces launch of Onyx Hospitality REIT
Image Credit: ONYX Hospitality Group
Having closed 2024 with strong financials—THB 8.7 billion in revenue and over THB 3.4 billion in gross operating profits—the group is now doubling down on its core mission: becoming the top medium-sized hotel management company in Southeast Asia. This Bangkok Hotel News report highlights ONYX’s strategy to leverage financial innovation, targeted development, and diversified guest experiences to expand its footprint from 42 to 50 properties by year-end and 70 by 2028.
Strategic Expansion of Core Brands
The ONYX umbrella includes three flagship brands that continue to perform exceptionally well:
–Amari – Positioned in the upper-upscale category, Amari is expanding fast with recent openings in Colombo, Vientiane, and Bangsaen. Amari properties are known for blending modern luxury with authentic local touches, catering to urban, resort, and MICE travelers.
–OZO – Aimed at the upper-midscale segment, OZO delivers energetic, connected stays for the modern traveler with its “Unpack. Good. Vibes.” philosophy. Recent launches like OZO Medini in Malaysia demonstrate its rising popularity.
–Shama – The premium serviced apartment brand is being prepared for further rollout, including potential inclusion in future REIT phases.
Elevating Property Standards
To maintain international competitiveness, ONYX is channeling investment into major upgrades at several legacy properties. Renovation efforts are underway at Amari Don Muang Airport Bangkok, Amari Buriram, and the highly visited Amari Phuket. These efforts will ensure continued alignment with evolving guest expectations and global hospitality standards.
Tech Forward and Guest Centric
Digital transformation is a cornerstone of ONYX’s strategy. The group is rolling out advanced CRM and Martech systems to create hyper-personalized experiences and improve guest loyalty. Strategic collaborations with banks, airlines, and lifestyle brands are also being scaled up to strengthen the group’s marketing reach and build value for returning customers.
Launch of ONYXRT REIT Signals Long-Term Asset-Light Growth
A defining moment in ONYX’s journey is the establishment of ONYXRT, a new leasehold REIT already filed with Thailand’s Securities and Exchange Commission. The initial phase will pool together four high-performing hotels:
Amari Bangkok (564 rooms, 82% avg. occupancy)
Amari Pattaya (339 rooms, 80%)
OZO Pattaya (406 rooms, 89%)
OZO Phuket (255 rooms, 86%)
With a combined value of THB 6.5 billion, ONYXRT is designed to attract investors seeking stable returns from prime assets in Thailand’s key tourism hubs. Managed by ONYX Hospitality REIT Management Co., Ltd. and with SCB Asset Management as trustee, the trust is forecasted to yield around 9%, bolstered by Thailand’s favorable economic climate of lower inflation and interest rates.
Dr. Natkawin Jiamchoatpatanakul, Managing Director of ONYX Hospitality REIT Management, emphasized the diversity of the REIT’s portfolio in terms of brand positioning, locations, and target markets. “Our assets serve short-haul travelers in Bangkok, long-haul guests in Phuket, and a healthy mix in Pattaya, ensuring year-round performance and risk diversification,” he said.
Future Phases and a Bold Investment Pipeline
Mr. Yuthachai Charanachitta, CEO of ONYX Hospitality Group, revealed that the company is already planning second and third phases of the REIT rollout, with future contributions expected from Shama-branded serviced residences. At the same time, the group is navigating Thailand’s tepid real estate climate by converting unsold condominiums into serviced apartments at the request of local developers—an opportunity that could further bolster ONYX’s pipeline.
In addition, ONYX is allocating around THB 5 billion for new projects over the next three years. These include:
-OZO Bangkok near Amari Bangkok (THB 700 million)
-Shama Pattaya (THB 700 million)
-EQ Phuket, a joint venture with Malaysia’s Equatorial Group (THB 2.5 billion)
Additional developments in Phuket and Koh Samui
The group’s 2025 revenue target is at least THB 9 billion. Last year saw a 19% year-on-year increase in revenue per available room (RevPAR), underlining ONYX’s operational strength even in a challenging macroeconomic environment.
Diversified Markets and Positive Tourism Outlook
Despite a sluggish Chinese tourism rebound, ONYX has compensated through strong arrivals from India, Malaysia, Singapore, and Europe. Mr. Yuthachai expressed optimism that Chinese arrivals in 2025 will surpass the Tourism Authority of Thailand’s minimum estimate of 5 million, with momentum carrying into 2026.
As Thailand’s tourism and aviation sectors remain vital contributors to GDP, ONYX is positioning itself as a central player in both national economic recovery and regional hospitality leadership.
The group currently manages 42 hotels with a total of 7,778 rooms across seven Asian countries. With six more properties comprising 1,116 rooms in the pipeline, ONYX’s rapid but measured expansion reflects both strong internal governance and confidence in the region’s hospitality potential.
The moves made by ONYX in 2025 indicate more than just corporate ambition—they represent a fundamental reshaping of what a Thai hotel group can achieve on the global stage. With smart investments, strategic innovation, and bold leadership, ONYX is not only evolving as a brand but also setting new benchmarks for others in the industry to follow.
For the latest on ONYX-Hospitality, keep on logging to Bangkok Hotel News.
