ONYX Hospitality Group has announced its plan to operate at least 10 properties in India by 2022.
Three key developments will form the strategy for the ONYX India expansion. Firstly, the first full service Amari hotel has been confirmed in the NCR (National Capital Region). Amari Noida will be a part of the World Trade Centre Noida project and feature 120 rooms, with an additional 30 branded residences, three restaurants, meeting and convention space, pool, fitness centre and a Breeze Spa. The project will begin in 2016 and is due to be operational by 2019.
The second project will be in the World Trade Centre development in Gujurat’s new central business district, GIFT city. The Amari Residences GIFT City in Ahmedabad will feature 120 serviced apartments, restaurant, pool and fitness centre. The project will begin in 2016 and be operational by 2018.
In order to develop these two projects and the remaining balance of properties in the pipeline, ONYX has entered into an exclusive partnership with hospitality asset management firm, Kingsbridge India. Through the joint venture, ONYX as the operator will closely align with the interests of the asset owner to deliver set objectives. Kingsbridge is a hospitality platform by The Viridian Group, developed to target specific gaps and opportunities in the Indian hospitality market.
Peter Henley, President and CEO, ONYX Hospitality Group said:
“This announcement marks a strategic step in our long term strategy to become a leading hospitality provider in Asia. India is ripe for hospitality development right now and as the economy continues to grow, and international visitors to the country rise, we see great potential for hotel expansion. As hospitality specialists, our role is to select the right brands for the right locations and we see market potential for our upscale hotel, resort and residences brand Amari, as well as our select service brand OZO. The hospitality landscape in India is dominated by luxury at one end of the spectrum and unknown players at the other, together with our partner Kingsbridge, we see an opportunity to provide international standards to guests who are looking for reliable and good quality upscale accommodation options.”
Commenting on the joint venture, Rajesh Shanbhag, CEO, Kingsbridge India said:
“We firmly believe that the Kingsbridge-ONYX partnership will serve to establish the ‘joint venture’ as a leader in the Indian mid-market hospitality segment in the future. Both partners have come together with the common objective of establishing a pan-India portfolio of mid-market and upscale hospitality properties in key business and tourist destinations. Whilst ONYX, with its established brands such as Amari and OZO is recognised globally for its efficiency in managing and operating hospitality assets, Kingsbridge aggressively mitigates operational, structural and capital inefficiencies that characterise the segment. Kingsbridge envisages a mutually beneficial and very long term partnership with ONYX.”
ONYX Hospitality group currently ONYX Hospitality Group manages 54 properties in 10 countries, 38 of which are operational, equating to over 6,000 rooms..