Singapore-based Banyan Tree Group is making waves in the hospitality industry as it plans to double its global portfolio by 2025. The group closed the 2022 fiscal year with 63 properties across its ten hospitality brands. It is on track to add another 50 new hotel openings or conversions by 2025, bringing its total to 113 hotels worldwide.
The expansion comes as tourism begins to resurge worldwide, coupled with the group’s robust portfolio of brands that cater to consumer trends across the globe. Among the five new brands launched in 2022, Garrya is set to become the group’s fastest-growing brand, with many unique properties set to open in China, Thailand, Indonesia, and Vietnam.
The flagship Banyan Tree brand currently constitutes 50% of the group’s portfolio and will debut in several new locations in the next three years, including Busan, South Korea; Manila Bay, the Philippines; Tuwaiq, Saudi Arabia; and Singapore, where an eco-friendly Banyan Tree resort will open as part of Mandai Wildlife Reserve, marking the group’s Singapore debut. The brand is also set to expand its presence in China with new properties in Quzhou, Emeishan, Dongguan’s Songshan Lake, Zhuhai, Chongqing, Suzhou, Yangcheng Lake, and Xianju.
The group’s wellness-centric brand, Banyan Tree Veya, will also add to its portfolio by opening a new resort, spa, and winery in Baja, California, Mexico, in late 2023. Meanwhile, the second Banyan Tree Escape resort is set to arrive in Lampung, Indonesia, within the next two years.
Angsana, the group’s vibrant lifestyle brand, is adding three new resorts in Vietnam and expanding into Siem Reap, Cambodia, and Anping, Taiwan, by 2025. The brand will also debut in Spain in 2026 with the arrival of Angsana Real de la Quinta Benahavis-Marbella.
The extended-stay brand Cassia, known for its laid-back aesthetic and community vibes, will expand with four new properties in South Korea, Thailand, and Japan. Dhawa, another brand under the Banyan Tree Group, will open new properties in Vietnam and China.
Finally, the newly launched brand Homm, which offers the comforts of home in far-flung destinations, will open two new properties in Bali and Vietnam by 2024.
According to Eddy See, President and CEO of Banyan Tree Group, “At the end of 2021, we stated an ambitious goal to double our global footprint, a target that we are well on track to achieving thanks to a combination of favourable market conditions amid resurgent tourism and our strong portfolio of brands that match consumer trends in destinations as diverse as China and Spain.”
With its aggressive expansion plans and a strong portfolio of brands catering to diverse consumer trends, the Banyan Tree Group is well-positioned to continue its growth trajectory and impact the hospitality industry.
Written by: Supaporn Pholrach (Joom)
