BANGKOK—ONYX Hospitality Group has entered a strategic alliance with Singapore Hospitality Holdings to accelerate the growth of its OZO and Shama portfolio across Asia-Pacific and the Middle East.
The joint venture plans to open 46 OZO and Shama properties in key Asia-Pacific city and resort destinations by 2024.
The partnership will boost ONYX’s current portfolio of 24 OZO and Shama properties to 70 properties by 2024. During the initial period, the joint venture will invest in new OZO openings in Bangkok, Phuket, Pattaya and the Maldives.
OZO is a select-service hotel brand. There currently are four OZO hotels in operation in Thailand, Hong Kong and Sri Lanka, and an additional four hotels under development in Vietnam, Malaysia and China.
Shama is a provider of serviced apartments in prime gateway cities in the region. The current Shama portfolio consists of 10 properties in China, Hong Kong and Thailand, with an additional six properties under development in Malaysia and China.
ONYX Hospitality Group operates four brands: Saffron, Amari, Shama and OZO. Singapore Hospitality Holdings is involved in a wide range of industries but is primarily focused on hospitality and real estate developments.