ONYX Hospitality secures LH Bank funding for EQ Phuket hotel

ONYX Hospitality Group has reached an statement with Land and Houses Bank Public Company (LH Bank) to unafraid fiscal enactment for the improvement of EQ Phuket, a caller edifice successful Thailand.

With a full concern worth of astir Bt2.8bn ($86m), the task is scheduled for completion and opening successful the 2nd 4th of 2028.

The financing statement was formalised during a signing ceremonial held astatine Oriental Residence Bangkok connected 7 May 2026, attended by elder enactment from ONYX Hospitality Group, Equatorial Group, and LH Bank.

LH Bank president and CEO Shih Jiing-Fuh said: “The slope has extended the indebtedness installation of Bt1,800m to enactment the improvement of the EQ Phuket project.

“We are assured that the EQ Phuket task volition further heighten the island's tourism imaginable and fortify Thailand's competitiveness successful the planetary tourism market.”

The improvement is the effect of a antecedently established associated task betwixt ONYX Hospitality Group and Equatorial Group, signed successful November 2024.

The edifice volition screen astir 32 rai (25,600m²) and is planned to diagnostic 170 impermanent accommodations, including 11 excavation villas, 27 suites, and 132 modular rooms.

Additional facilities volition dwell of 2 swimming pools, a spa, a fittingness centre, a children's club, a formation club, and lawsuit spaces.

The tract volition see an all-day eating edifice and a excavation bar, on with a dedicated beachfront country for sports and leisure.

Phuket continues to pull precocious numbers of planetary visitors from assorted markets, with Chinese tourists representing the largest group. Travellers from Russia and India person besides shown accrued presence.

The statement with LH Bank underscores the alignment betwixt the fiscal institution, ONYX Hospitality’s edifice absorption expertise, and Equatorial Group’s improvement interests.

"ONYX Hospitality secures LH Bank backing for EQ Phuket hotel" was primitively created and published by Hotel Management Network, a GlobalData owned brand.

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