Thai Group Onyx Hospitality Plans Property REIT Launch
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Onyx Hospitality Group said it's planning to launch Onyx Leasehold Real Estate Investment Trust, combining four properties. Plus more hotel development news from Asia Pacific.
International arrivals to Vietnam in the first five months of 2025 rose 21.3% to more than 9.2 million. In May alone, international visitation was up 10.5% to 1.53 million. China maintained the top position in the first five months with 2.36 million arrivals, followed by South Korea with over 1.9 million. The Chinese market was up 47.2%.
Onyx Hospitality Group said they are planning to launch Onyx Leasehold Real Estate Investment Trust, combining four properties worth 6.5 billion baht within this year. They are aiming to double their value to 15 billion baht within five years. The funds raised under ONYXRT will be used to help accelerate hotel expansion in Thailand and Asia, as well as for debt repayment. The first properties listed in the REIT in the first phase will be the 564-room Amari Bangkok, the 339-room Amari Pattaya, the 406-room Ozo Pattaya, and the 255-room Ozo Phuket. The REIT is anticipated to gener
