Onyx forges new partnership to expand China's serviced apartments market

Shama Luxe Huashan, Shanghai

Thailand's Onyx Hospitality Group is setting its sights on China’s serviced apartments with an aim to expand the market within 12 key cities. As part of a new partnership deal, Sincere Holdings Group will develop Onyx's Shama serviced apartments, including those operating under the Shama Luxe and Shama Hub sub-brands, in Shanghai, Shenzhen, Guangzhou, Beijing, Chengdu, Chongqing, Hangzhou, Nanjing, Suzhou, Tianjin, Wuxi and Xiamen.

The first two apartments are lined up for Shanghai. Shama Hongqiao Shanghai in Minhang District and Shama Changfeng Shanghai in Putuo District are slated to open in 2018. The brand currently has 18 serviced apartments across Asia Pacific. Ten of which are in the development pipeline in Australia, Malaysia and other markets.

Based in Bangkok, Onyx Hospitality Group has a regional portfolio of 44 properties operating under three brands—Amari, Shama and Ozo—in eight countries. Meanwhile, the Ithalthai Group subsidiary has a development pipeline of more than 20 new properties in markets including Australia, Malaysia and Lao. These upcoming projects are part of Onyx's goal to have a 99-hotel portfolio by 2024.

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Onyx's newest partner, real estate developer and property manager Sincere Holdings Group, has developed more than 70 real estate projects in key provinces and cities in China, including Beijing, Shanghai, Shenzhen, Chongqing, Hong Kong, Sichuan, Jiangsu, Henan, Hebei and Shandong.

This announcement follows the signing of a partnership deal between Onyx Hospitality Group and Winil Gems Group in November 2017. To expand the Amari brand across Asia-Pacific, the groups will develop the Amari Colombo in the Kolluptiya commercial district of Colombo, Sri Lanka. As the second Amari property in the country, the 24-story hotel will have 180 guestrooms and suites when it's complete in mid-2019. The first—Amari Galle Sri Lanka—opened in late 2016 on Sri Lanka's southern coast near the Galle Fort. In another partnership, Onyx operates the beachfront 172-room hotel while Sino Lanka Hotels owns it.