ONYX, LH Bank Back EQ Phuket Luxury Resort on Kata Beach

ONYX Hospitality Group has teamed up with Thailand’s LH Bank to advance development of EQ Phuket, a new luxury beachfront hotel on Kata Beach that is scheduled to welcome guests by the second quarter of 2028.

Financing Deal Anchors New Luxury Project on Kata Beach

According to publicly available information, ONYX Hospitality Group has entered into a loan agreement with LH Bank to support construction of EQ Phuket, a high-end resort on the northern stretch of Kata Beach in Phuket. Reports indicate that LH Bank has extended a loan facility valued at about 1.8 billion baht, contributing to a total project investment of approximately 2.8 billion baht.

The financing agreement is described in regional business coverage as a key milestone in moving the project from planning into full-scale development. The backing from a Thai commercial bank is being interpreted by market observers as a sign of confidence in both the developer partnership and the long term prospects of Phuket’s luxury segment.

EQ Phuket is expected to open in the second quarter of 2028, adding a new boutique luxury brand to one of Phuket’s best known beachfronts. Industry commentary suggests that the project is intended to reinforce ONYX Hospitality Group’s growth strategy across Asia Pacific, particularly in Thailand’s established resort destinations.

The resort will rise on a beachfront site covering roughly 32 rai on the quieter northern end of Kata Beach. This area is already familiar territory for ONYX, which operates other properties on Phuket, but EQ Phuket is being positioned in a higher tier, targeting travellers seeking a more exclusive and design-led stay.

Design, Facilities and Boutique Luxury Positioning

Project details released through regional media indicate that EQ Phuket will offer about 170 keys, including 11 pool villas, 27 suites and 132 standard guest rooms. The key mix underscores a focus on spacious layouts and private environments, aligning with Phuket’s growing appeal to high spending leisure travellers and small groups.

Plans call for a full complement of resort facilities, including an all day dining restaurant, pool bar, two swimming pools, a kids club, spa and fitness centre. The development will also feature large-scale event and banquet spaces, positioning the property to compete for weddings, incentive trips and small corporate gatherings that seek a beachfront setting with luxury services.

Developers are also planning to turn the seafront portion of the site into a beach club and sports and lifestyle hub. Public information suggests that this zone is intended to capture demand for more active, experience-driven stays, with water-based recreation and social spaces complementing the traditional resort offering.

The EQ brand, which already operates a flagship property in Kuala Lumpur, has been portrayed in travel and lifestyle media as a boutique luxury concept combining contemporary design with highly personalised service. The Phuket project is expected to translate that positioning into a resort format, with emphasis on discreet luxury, curated experiences and a strong sense of place along Kata Beach.

Phuket’s Luxury Market Strengthens Post Pandemic

The decision to push forward with a sizeable luxury development reflects the broader rebound of Phuket’s tourism industry. Industry data cited in Thai business reports show that the island’s average hotel occupancy has climbed to around 69 percent, with average daily room rates rising from roughly 4,700 baht in 2023 to more than 5,200 baht in 2024.

Phuket’s visitor mix has also diversified. While travellers from China remain a major source market, arrivals from Russia and India have grown, alongside a recovery in long haul markets from Europe and the Middle East. Analysts note that these segments tend to favour longer stays and higher quality accommodation, supporting investment in upper upscale and luxury products such as EQ Phuket.

Tourism observers point out that supply in Phuket’s top tier resort category is expanding, but demand for branded luxury properties with strong international distribution remains resilient. In this context, the ONYX and LH Bank partnership is being viewed as a timely move to capture demand from affluent travellers looking for new options beyond the more established Patong and Karon areas.

Phuket authorities and private stakeholders have in recent years promoted the island as a year round destination with a broader range of experiences, from wellness and gastronomy to yachting and adventure activities. A project like EQ Phuket, with its planned beach club and lifestyle facilities, is likely to tap into this evolving positioning while reinforcing Kata Beach as a more refined alternative on the island’s west coast.

Strategic Partnership Expands ONYX Footprint

The EQ Phuket development is part of a wider growth trajectory for ONYX Hospitality Group, which manages a portfolio of hotels, resorts, serviced apartments and luxury residences across Asia Pacific. Corporate background materials show that the company has been pursuing a multi brand expansion plan that includes Amari, OZO, Shama and other concepts aimed at different segments of the market.

ONYX already has experience in Phuket through properties such as OZO Phuket on Kata Beach and other resorts in southern Thailand. Industry analysts suggest that adding EQ Phuket will diversify the group’s presence on the island, moving it further into the boutique luxury space while leveraging existing distribution networks and operational know how.

The partnership with LH Bank also illustrates how Thai hospitality operators are drawing on domestic financial institutions to underwrite large scale tourism projects. For LH Bank, the loan facility linked to EQ Phuket is being presented in business press coverage as an opportunity to participate in the recovery and long term expansion of Thailand’s high value tourism economy.

Observers note that, if delivered on schedule in 2028, EQ Phuket will enter the market at a time when infrastructure improvements and sustained air connectivity could support higher volumes of affluent visitors to Phuket. The project is therefore being watched as a bellwether for how new luxury investments can shape the next phase of development along one of Thailand’s most recognisable beaches.