Singapore-based global multi-brand hospitality group Banyan Tree Group is on course to double its global footprint by 2025.
At the end of 2022, the group had 63 properties across its portfolio of ten hospitality brands throughout 23 countries. Eight newly built or converted hotels were then also added last year.
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The company additionally launched five new brands last year, of which Garrya is projected to emerge as its fastest-growing brand, overtaking the group’s flagship brand Banyan Tree.
Banyan Tree Group president and CEO Eddy See said: “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.
“Our development pipeline to 2025 will deliver 50 new hotel openings or conversions, bringing the Group’s global portfolio to 113 hotels.”
The Banyan Tree brand accounts for 50% of the group’s portfolio. It launched its first property in Saudi Arabia with the opening of a luxury resort in the Ashar Valley of the ancient oasis city of AlUla.
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By GlobalDataThe brand will expand in the next three years through 12 more properties, driven by new openings in China, South Korea, the Philippines, Saudi Arabia.
Banyan Tree will debut with an eco-friendly resort in Singapore and this will be the group’s first resort in the country. It will operate the resort as part of Mandai Wildlife Reserve, an integrated wildlife and nature destination.
A luxury hilltop urban resort, dubbed Banyan Tree Higashiyama Kyoto, is expected to be opened next year, as the first and only hotel in Kyoto City, Japan, to have a Noh stage.
Other planned expansions of the group include a new resort in the hills of Baja California, Mexico, by the end of this year. The Banyan Tree Veya Valle de Guadalupe Resort, Spa and Winery will mark the group’s fourth property in Mexico and will be operated under the Banyan Tree Veya brand.
