Banyan Tree Group is now “Banyan Group” with a pipeline of 19 properties to debut in 2024
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In celebration of its thirtieth anniversary, the unbiased, world hospitality firm broadcasts landmark milestones and thrilling developments for the long run. Celebrating three a long time of making distinctive experiences throughout inns, spas, residences, meals and retail, Banyan Tree Group is evolving its company umbrella model from “Banyan Tree Group” to “Banyan Group”. This model shift displays the Group’s evolution right into a dynamic, multi-brand hospitality powerhouse.
Since 2019, the Group has doubled its model portfolio, bringing its pioneering spirit, design-led experiences, and goal pushed mission to new locations, together with Banyan Tree AlUla in Saudi Arabia, Garrya in Kyoto, and Folio in Osaka, Japan, Dhawa in Ho Tram, Vietnam, Homm in Huzhou, China and Banyan Tree Dubai within the United Arab Emirates. 2023 additionally marks a 12 months of sturdy and regular enterprise efficiency that has surpassed pre-pandemic ranges.
Multi-brand Development Continues in 2024 With 19 New Openings
As we have fun the Group’s thirtieth anniversary and its evolution into Banyan Group, this milestone shouldn’t be solely testomony to the Group’s enduring success within the hospitality business but additionally units the stage for an thrilling future. This model evolution displays our portfolio transformation from a single luxurious model to the various providing we’ve at this time. Virtually half of all of the nations we function in carry a multi-branded presence, with most of them being high-growth journey locations. With a eager eye on enlargement, we’re seizing new alternatives with our distinct manufacturers, designed to satisfy evolving traveller preferences and desires in these dynamic markets. Eddy See, President and CEO of Banyan Group
Banyan Group at present manages 12 world manufacturers, 75 inns and resorts, over 60 spas and galleries and 14 branded residences throughout 22 nations. As a part of a sturdy pipeline of properties, the Group’s enlargement in 2024 will embrace 19 new properties and residences in Cambodia, China, Japan, South Korea, Vietnam and Mexico. Listed here are the highlights:
- The Group’s first property in Cambodia will debut with Angsana Siem Reap.
- The primary Banyan Tree property in Japan, Banyan Tree Higashiyama Kyoto.
- Additional enhancing Banyan Group’s multi-brand presence, extra manufacturers are set to debut in Vietnam – Angsana Quan Lan in Halong Bay and Garrya Mu Chang Chai, in addition to in South Korea with Cassia and Homm Sokcho.
- Suzhou, roughly 2 hours away from Shanghai by prepare or automobile, will function two complexes – The primary, in Shishan, will embrace Banyan Tree and Angsana, whereas the second, by Yangcheng Lake, will embrace Banyan Tree and Garrya.
- Angsana Tengchong marks the Group’s fifth property within the Yunnan province of China.
- In North America, Banyan Tree Veya Valle de Guadalupe marks the debut of the primary full-fledged Banyan Tree Veya in Mexico.
Document-Breaking Enterprise Efficiency in 2023
The strong development slated for 2024 has been pushed by a resilient restoration post-Covid, surpassing pre-pandemic metrics throughout numerous regional markets. Key 2023 metrics embrace:
- Motels achieved increased RevPAR, up by 44%, in 9M2023 in comparison with 9M2022, and in addition surpassed the pre-pandemic efficiency by 27% versus 9M2019, on a similar store-store foundation.
- Residence gross sales for 9M2023 reached 90% of the full-year gross sales in 2022, which was the perfect 12 months on file.
- China has confirmed to be a strategic driver, with a exceptional +49% improve in RevPAR 9M2023 in comparison with the identical interval final 12 months, and +18% improve in RevPAR in comparison with pre-Covid stage in 2019 on a same-store foundation. The working footprint has expanded from 16 in 2019 to 25 properties in 2023, with 14 extra within the three-year pipeline. Continued development is anticipated, pushed by a wholesome opening pipeline and the power of the home and outbound Chinese language market in each residences and hospitality.
- The latest buyback cope with China Vanke additional strengthens the Group’s place as a key participant within the hospitality business by streamlining strategic decision-making in response to market dynamics and enhancing day-to-day operational effectivity.
New Sustainability Commitments and Deepened Differentiation
Concurrently, the corporate has maintained its pioneering spirit and dedication to each design-led experiences and a purpose-driven mission of stewardship and accountable tourism, making it a trailblazer for inclusive development and sustainability.
As Banyan Group celebrates our collective success over the past 30 years, we additionally acknowledge that the progress can’t cease right here. The core beliefs and values which have guided Banyan Group to this milestone will proceed to underpin our development technique as we stay devoted to being a drive for optimistic change for each individuals and the planet. Ren Yung Ho, Senior Vice President, Model & Industrial at Banyan Group
In 2024, Banyan Group will align with United Nations Local weather Science-based Targets to develop a complete 2030 Sustainability Roadmap that addresses each environmental and human capital growth in keeping with its founding ethos of Embracing the Atmosphere, Empowering Individuals. It would additionally pioneer a circularity pilot venture, reinforcing the model’s dedication to advance the hospitality business’s transition to regenerative practices.
The Group will even launch Laguna Lakelands in Phuket, its most bold nature-integrated growth. Spanning 110 hectares, Laguna Lakelands will embody a Rainforest park, over 10km of treetop skywalks, and 6 distinct zones—orchard, lakeside, lagoon, valley, and forest—ushering in a brand new period of immersive residing.
New Programming and Initiatives
Throughout its thirtieth anniversary in 2024, Banyan Group will launch Past, a brand new digital companion that gives a holistic expertise throughout its codified wellbeing framework, and withBanyan, an experiential members programme that rewards engagement, interactions and actions. The celebration extends globally with 11 commerce pop-ups, partaking world client campaigns, the launch of 8 signature scents impressed by the Group’s eight pillars of wellbeing and restricted version artisanal anniversary items, all crafted in collaboration with the communities the place the Group operates.
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