Onyx eyeing Sri Lanka market for Shama serviced apartment brand

George Sell George Sell Uploaded 29 November 2016


Thailand: Onyx Hospitality is looking to establish its Shama brand in Sri Lanka's capital Colombo.

Onyx has two properties in Sri Lanka, in Colombo and Kandy, under its OZO brand and is working on a third in Galle under its Amari brand which is expected to open next year.

President and chief executive Peter Henley said the company has been in discussions with several potential partners but a deal has not yet been finalised.

"We are keen to have a Shama property in Colombo," he said.

The group's three properties are owned by third parties but Henley said the group may consider some equity investment in a Shama branded serviced apartment project in Sri Lanka.

The Indian Ocean region made up of Sri Lanka, the Maldives and India is expected to bring the fastest growth the group in the near term, though China will bring the highest volume growth, Henley added.

Onyx currently manages 19 serviced apartments under the Shama brand across Asia Pacific, including six in Hong Kong.



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