Banyan Tree to Launch 5 New Brands; Double Footprint by 2025
Banyan Tree has unveiled plans to to double its footprint of 54 properties across 23 countries by 2025 with the introduction of 5 new brands launching in the next 18 months.
In 2022, the group will introduce the new Garrya, Homm and Folio brands, as well as two brand extensions of Banyan Tree named Veya and Escape.
The portfolio expansion supports new milestones in the group's RevPAR, which improved 18% in the first nine months of the year when compared to the same period in 2020.
The company has opened 7 hotels so far this year, including last month's opening of the first Garrya Huzhou Lucun in China, which was followed by the debut of Homm Bliss Southbeach Patong and soft-opening of Banyan Tree Veya Phuket.
This year to-date, Banyan Tree Group has signed 20 hotel management agreements worldwide including Benin, Mexico, Greece, Saudi Arabia, Korea, Thailand, China and Vietnam.
Four Garrya and two Homm have been signed in Asia with more in the pipeline.
Each of the 5 new brands to be released are responses to macro and regional trends in travel accelerated by COVID19’s impact such as conversion opportunities in resort destinations, emerging second-tier tourism destinations, as well as a greater desire for wellbeing and sustainability-minded travel offerings.
“This expanded multi-brand ecosystem fortifies our stronghold in the lifestyle spectrum in Asia, while diversifying our offerings to meet the evolving needs of diverse, affluent travellers around the world,” said Mr Eddy See, President and Group Managing Director of Banyan Tree Group. “As an independent, mission-driven company with our core DNA in wellbeing and sustainability, we define what ‘good growth’ looks like. We are committed to being an exemplar and leader in our field, inspiring better living for our guests and associates in all the communities where we operate.”
Looking ahead, the group will see a total of 19 openings throughout 2022 – comprising 3 Banyan Tree, 1 Banyan Tree Escape, 3 Banyan Tree Veya, 6 Angsana, 3 Dhawa, 2 Garrya and 1 Homm – across 7 countries: Maldives, Thailand, China, Indonesia, Cambodia, Mozambique and Saudi Arabia – where new flags will be planted in the latter three countries.