Banyan Tree Hotels and Resorts has announced plans to double its footprint of 54 properties across 23 countries by 2025 with the introduction of 5 new brands launching in the next 1 and a half years.
The hospitality group will introduce the new Garrya, Homm and Folio brands, as well as two brand extensions of Banyan Tree named Veya and Escape, in 2022. 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.
So far in 2021, the group has opened 7 hotels, 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.
Banyan Tree says that each of the 5 new brands to be released are responses to macro and regional trends in travel accelerated by COVID-19’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.
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This year till now, Banyan Tree Group has signed 20 hotel management agreements worldwide with properties in Benin, Mexico, Greece, Saudi Arabia, Korea, Thailand, China and Vietnam. 4 Garrya and 2 Homm hotels have been signed in Asia with more in the pipeline.
Mr Eddy See, President and Group Managing Director, Banyan Tree Group, said:
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. 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.
In 2022, the group will open doors to its 19 new properties, comprising 3 Banyan Tree, 1 Banyan Tree Escape, 3 Banyan Tree Veya, 6 Angsana, 3 Dhawa, 2 Garrya and 1 Homm hotels – across 7 countries which are Maldives, Thailand, China, Indonesia, Cambodia, Mozambique and Saudi Arabia. Cambodia, Mozambique and Saudi Arabia will see the debut of Banyan Tree brand in 2022.
Featured image of Garrya Huzhou Lucun by Banyan Tree
What do you think of Banyan Tree’s plan to double its portfolio by 2025 and the launch of 5 new brands? Let me know in the comments section below.