BANGKOK, 1 March 2021: Onyx Hospitality Group, a regional hotel management company headquartered in Bangkok, confirmed CEO Douglas Martell tendered his resignation last week.

He worked for the hotel group for seven years, joining as
executive vice president of operations and taking over the CEO post in mid-2017.

In a memo to team “leaders’ vice president of
operations, Craig Bond said the management would work on a “future proof
road map for Onyx.”

Bond confirmed that ItalThai Group’s CEO, Yuthachai
Charranachitta, would assume the role of interim CEO of Onyx Hospitality Group
effective 1 March.

Owned by the ItalThai Group, Onyx has a portfolio of six
brands with the core development activity focusing on expanding Amari, Ozo and
Shama brands.

This week the Onyx will hold talks with property owners and
partners to steer the company to recover from the impacts of the Covid-19
pandemic.

. contacted the group’s vice president of marketing communications, Charles Yap, who said he would revert with more details this week.

ONYX Hospitality Group was formed in 2010, replacing the
highly successful Siam Lodges that was founded in 1975 with two properties in
Pattaya.

The parent company ItalThai Group, founded in 1955, is one
of Thailand’s leading conglomerates with businesses extending across various
industries, namely construction, machinery, engineering services, hospitality
and lifestyle, with combined annual revenue of over USD400 million and
employing more than 5,500 employees in nine countries across the Asia Pacific.