Onyx Hospitality Group has set an ambitious target of doubling its properties in the domestic market and abroad, from 42 to 99 in 2024.
Martell: Planning 99 properties
The Thai group aims to be among the major mid-scale hotel chains in Asia, said newly appointed chief executive Douglas Martell.
"We aim to achieve a portfolio of 99 properties by 2024. We continue to expand across the Asia-Pacific such as the Maldives, Sri Lanka, Vietnam, Malaysia and Thailand," he added.
Onyx operates 42 properties, with 6,539 rooms in eight countries and territories in Asia-Pacific, namely Thailand, China, Hong Kong, Malaysia, Sri Lanka, the Maldives, Qatar and Bangladesh.
Among 42 properties, 26 are in Thailand, six in Hong Kong, four in China, two in Sri Lanka, and one each in the Maldives, Malaysia, Qatar and Bangladesh.
The chain has three hotel brands, Amari, Shama and OZO, each catering to distinctive requirements of business and leisure travellers.
This year, Onyx is introducing Amari to three new locations: Amari Yangshuo in China, Amari Johor Bahru in Malaysia, and Amari Galle in Sri Lanka. Amari Johor Bahru and Amari Yangshuo opened this month, and Amari Galle is scheduled to open in this July.
Mr Martell said 22 properties are in development.
These new properties will be located in Sri Lanka, Laos, Australia, Vietnam, China, Hong Kong, Malaysia, India and Indonesia.
"If all projects in the pipeline are on track, Onyx will become one of leading players in the mid-scale segment in Asia," he insisted.
Owned by Italthai Group, Onyx Hospitality has been in the industry for over 45 years.
Today, the group is running various hotel brands, with a presence in Thailand and several countries. Its properties range from upscale and mid-scale hotels to serviced apartments.
Last year, Onyx recorded a 15% rise in operating profit and its properties in Thailand saw gross profit surge by 10% from 2015.
The group's total revenue grew 7% year-on-year, while revenue from Thailand's properties climbed 11% year-on-year.
"This year, we expect a 14% hike in total room revenue from both Thai and international properties. For properties in Thailand, our room revenue will rise 8%," Mr Martell said.
In the second quarter of this year, the group expects to achieve an 80% hotel occupancy rate and is targeting 14% growth of total revenue by the end of this year.
Previously, Mr Martell was Onyx's executive vice-president and chief operating officer. He succeeded Peter Henley, who retired after serving as chief executive for nine years.
With a career spanning more than 25 years, Mr Martell boasts hospitality experience from management and operations in various markets including China, Japan, Australia, Europe and India.
Prior to joining Onyx in 2014, Mr Martell spent 13 years at InterContinental Hotels Group, where he held senior leadership roles in Australia, China and Japan, before being appointed IHG's vice-president for operations for Southwest Asia, based in India.