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ONYX Hospitality Acquires Shama

Travel News Asia Latest Travel News Podcasts Videos Wednesday, 13 October 2010

ONYX Hospitality, a Thailand-based hotel management company, has acquired Shama, one of Asias leading, luxury, boutique serviced apartment providers.

The acquisition illustrates the commitment from ONYX to stretch its operations beyond the Thai domestic market and swell its capabilities into the serviced apartment sector - a sector experiencing rapid growth in Asia.

Shama is a strong brand concentrated solely in the serviced apartment market. Founded in 1996 the company now operates 13 properties across prime commercial and residential districts in gateway cities in Greater China and Thailand.

Shama will continue to trade under its brand name following the acquisition, and will become a brand offering within the ONYX portfolio which includes; hotels and resorts brand, Amari; its new select service, Ozo; and the luxury property portfolio, Saffron.

Peter Henley, Chief Executive Officer, ONYX, commented on the acquisition, This marks the further development and expansion of the ONYX brand following ONYXs growth in India which was our first step in expansion. 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.

Elaine Young, Chief Executive Officer and Co-Founder of Shama, added, Shama is a lifestyle provider that epitomises lifestyle, comfort and luxurious design. It is a high performing brand that we believe will fit perfectly into and compliment the ONYX brand portfolio. Shamas current operations will continue unchanged post acquisition and our commitment to expanding in the Greater China Region remains, along with tailoring our offering to meet market needs. I will continue to be heavily involved in developing Shama but will also be responsible for developing and operating all ONYX brands in North Asia, including Amari, Ozo and Saffron, as well as becoming a member of the ONYX senior management committee.

The requirement for quality serviced apartments has never been greater, especially in second tier Chinese cities such as Chengdu, Dalian, Hangzhou, Suzhou and Tianjin which are showing the most growth potential. As a brand we will continue to lead the luxury boutique serviced apartment market in Greater China and we look forward to only strengthening our position under ONYX, Young concluded.

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