Onyx Hospitality Group has signed a financial support agreement with LH Bank for the development of EQ Phuket, a luxury resort project in Phuket, Thailand. The agreement supports the project’s progression into its next phase, with construction advancing in line with its planned timeline.
The signing ceremony took place on May 7, 2026, in Bangkok, bringing together representatives from Onyx Hospitality Group, Equatorial Group and LH Bank. The project is being developed as a collaboration between the hotel operator, project developer and financial partner.
Located on a beachfront site in the northern area of Kata Beach, EQ Phuket will cover approximately 5.1 hectares and feature around 170 keys, including pool villas, suites and guestrooms. Facilities are planned to include dining outlets, swimming pools, a spa, fitness centre, kids club and event spaces, alongside a beach club and lifestyle area.
The project is scheduled to open in 2Q2028 and forms part of Onyx’s strategy to expand its presence in the upper-upscale and luxury resort segment across South-east Asia.
The project follows an earlier joint venture agreement between Onyx Hospitality Group and Equatorial Group signed in November 2024. With a total investment value of approximately 2.8 billion baht (US$76 million), the development reflects continued interest in Phuket’s luxury tourism segment.
“We see strong long-term potential in the Phuket market, and we are confident that this collaboration with strong partners in both development and finance will help drive the project towards successful completion in line with our plans, while creating long-term value for all stakeholders,” said Yuthachai Charanachitta, CEO, Onyx Hospitality Group.
“EQ continues to garner international recognition… We are incredibly excited to be working with Onyx Hospitality Group to introduce our EQ brand to Thailand,” added Donald Lim, CEO, Equatorial Group.
Shih Jiing-Fuh, president and CEO, LH Bank, shared: “LH Bank believes Phuket continues to stand as one of the world’s premier tourist destinations. We are confident that the EQ Phuket project will further enhance the island’s tourism potential and strengthen Thailand’s competitiveness in the global tourism market.”
