BANGKOK Onyx Hospitality Group, a Thailand-based hotel management company, has acquired Shama, a provider of luxury boutique serviced apartments.
Onyx’s 100% acquisition of Shama gives it expertise in the serviced apartments segment with the imminent launch of its Amari Residences Bangkok and the upcoming debut of its luxury Saffron brand, which will also have residential components.
Additionally, Sharma’s established footprint in Greater China provides Onyx with access to that major market. Founded in 1996, Sharma operates 13 properties in prime commercial and residential areas in gateway cities throughout Greater China and Thailand.
Shama will continue to trade under its brand name and will become a brand offering within the Onyx portfolio, alongside its Amari flagship brand, its luxury Saffron brand and its select-service Ozo brand.
“This marks the further development and expansion of the Onyx brand, following Onyx’s growth in Indi,a which was our first step in expansion,” says CEO Peter Henley. “This acquisition also marks the strengthening of our ability to operate across markets, across sectors and across the quality spectrum from value-orientated products through mid-scale and luxury hospitality offerings. Onyx will also add to its serviced-apartment capabilities with this acquisition.”