Banyan Tree Group is on track to double its global portfolio as part
of its five-year expansion plan. The Singapore-based group closed the
2022 fiscal year with 63 properties across its 10 hospitality brands,
and the addition of eight newly built or converted hotels in 2022 sets
the group on course to double its footprint by 2025.
This will consolidate and expand its presence in 23 countries, with a
goal to deliver 50 new hotel openings or conversions by 2025, bringing
the group’s global portfolio to 113 hotels.
Eddy See, President and CEO of Banyan Tree Group, said that the
company is on its way to achieving its ambitious goal to double its
global footprint, thanks to favourable market conditions amid resurgent
tourism and its strong portfolio of brands that match consumer trends in
diverse destinations such as China and Spain.
The group has launched five new brands, with Garrya poised to overtake Banyan Tree as the fastest-growing brand.
The flagship Banyan Tree brand, currently comprising 50% of the
group’s portfolio, debuted in Saudi Arabia with the opening of a luxury
resort in AlUla. In the next three years, the brand plans to add 12 more
properties, including a host of new Banyan Tree resorts in China, South
Korea, the Philippines, Saudi Arabia, and Singapore.
Banyan
Tree Veya, the group’s wellness-centric brand, will open in the hills
of Baja California in Mexico, while the second Banyan Tree Escape is set
to arrive in Lampung on the Indonesian island of Sumatra.
Angsana, the group’s vibrant lifestyle brand, will add three resorts
in Vietnam, with additional properties in Cambodia, Taiwan, and Spain.
The extended-stay brand Cassia plans to add four more long-stay
properties, while Dhawa recently made its debut in the Maldives and is
set to expand in Vietnam and China. Homm, the group’s newly launched
brand offering the comforts of home in far-flung destinations, is also
set to expand with new properties in Bali and Vietnam.
Garrya, inspired by Asian sensibilities and natural elements,
launched last year with hotel openings in China, Japan, and Thailand.
The fast-growing brand is now set to open in Indonesia and Vietnam, as
well as two new resorts in China by 2025.