LH Bank backs 1.8 billion baht loan for EQ Phuket luxury hotel project

LH Bank said on May 11, 2026, it is providing a 1.8 billion baht loan to Onyx Hospitality Group to develop the EQ Phuket project in Phuket. The bank said the project will add a new luxury hotel and strengthen Thailand’s tourism market as Phuket remains a major global destination.

Chief executive Chii Ching-Fuu said the financing supports a project in one of the country’s key travel markets. He described Onyx Hospitality Group as a leading operator of hotels, resorts and serviced apartments in Southeast Asia.

EQ Phuket targets 2028 opening

Onyx Hospitality Group chief executive Yuthachai Charanachitta said EQ Phuket marks a further step in the company’s strategy to expand its luxury resort portfolio. He said the group sees clear long-term potential in the Phuket market.

Yuthachai said the development is expected to open in the second quarter of 2028. He described it as a strategic project reflecting the company’s growth direction, rather than only a new high-end hotel.

Equatorial Group chief executive Donald Lim said the project sits on a high-potential site in Phuket. He said the development has been designed to deliver a strong guest experience and distinct market positioning in the luxury resort segment.

Lim said LH Bank’s backing will reinforce the project’s stability.

Source: https://www.posttoday.com/pr-news/pr-news/742182