Banyan Tree Group is entering its 30th year in business with a new name – Banyan Group – and 19 new properties set to debut throughout the year.
The new hotel openings include the Singapore-based company’s first properties in Japan and Cambodia, and its “first full-fledged Banyan Tree Veya Valle de Guadalupe in Mexico,” Banyan Group said.
“Further enhancing Banyan Group’s multi-brand presence, additional brands are set to debut in Vietnam – Angsana Quan Lan in Halong Bay and Garrya Mu Chang Chai, as well as in South Korea with Cassia and Homm Sokcho.”
Other new openings will include properties in China and Thailand.
“As we celebrate the Group’s 30th anniversary and its evolution into Banyan Group, this milestone is not only testament to the Group’s enduring success in the hospitality industry but also sets the stage for an exciting future,” said Banyan Group CEO and President Eddy See, President and CEO of Banyan Group. “This brand evolution reflects our portfolio transformation from a single luxury brand to the diverse offering we have today.”
The company is predicting robust business in 2024, and is reporting positive results from last year, with revenue per available room up 44 percent in the first three quarters of 2023 compared to the same period in 2022.
In other developments, Banyan Group is developing a sustainability blueprint in keeping with the United Nations Climate Science-based Targets initiative. “As Banyan Group celebrates our collective success over the last 30 years, we also recognize that the progress can’t stop here,” said Banyan Group Senior Vice President, Brand & Commercial Ren Yung Ho.
“The core beliefs and values that have guided Banyan Group to this milestone will continue to underpin our growth strategy as we remain dedicated to being a force for positive change for both people and the planet.”
Banyan Group manages 12 global brands, 75 hotels and resorts, upward of 60 spas and galleries and 14 branded residences in 22 counties.
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