In 1996 Elaine Young, Shama's CEO and co-founder, introduced the first boutique serviced apartment building to Hong Kong.
By 2001, the Shama brand was established and has since become the leading provider of boutique serviced apartments in the Hong Kong real estate market, with a varied portfolio of properties across prime commercial and residential districts.
In 2006, Morgan Stanley Real Estate acquired a majority interest in Shama, with Gaw Capital as a secondary shareholder. With the resources made available through these partnerships, Shama has put in place an ambitious growth plan that aims to make Shama the Asian market leader in its sector.
In early 2007, Shama took the first steps in implementing its growth plan when it entered the Mainland China market with Shama Luxe at Xintiandi in Shanghai. This project not only marked Shama’s first property outside of Hong Kong, but is also the first in the portfolio to be branded under the newly launched premier tier "Shama Luxe".
Shama now operating 12 properties in Mainland China, Hong Kong and Thailand with many more forecast in additional China cities and gateway cities across Asia.
ONYX Hospitality Group, the Thailand based hotel management company, acquired Shama in mid October 2010. Now one of ONYX’s key brands, Shama has 12 properties across prime commercial and residential districts in gateway cities in Greater China and Thailand.