ONYX strives for role among leaders in hospitality industry
ONYX Hospitality Group hopes to become one of the Asia's top firms in the hospitality industry by 2016, two years ahead of its original plan.
The company, which also operates Amari hotels, is also aiming to have up to 100 properties across Asia in its portfolio by 2020, helped by the region's property boom and economic growth, Peter Henley, the group's president and CEO, said.
The group's key focus is to expand its network via management contracts. The group currently operates 34 properties across Asia, totalling more than 5,000 rooms, under the brands Saffron, Amari, OZO and Shama serviced apartments.
All these brands will be part of ONYX's network expansion ranging from the Middle East, India, Sri Lanka and China, to the west of Australia. Myanmar.
Also, Amari is opening its first property in the Indian city of Ludhiana and Shama is adding a Hangzhou property in its network.
The Hong Kong-based group makes up to 70 per cent of the revenue at home and the rest overseas. Henley said the strong baht had not had an impact on its business so far.
Though there has been a huge drop in the number of guests from Britain owing to the falling economy and uncertain job outlook, this loss has been offset by the rising number of clients from Asia.
Henley said the business outlook for this year remains positive and projects that its net profits will rise by 5 to 10 per cent, backed by good performance in the first quarter.