In a significant move, Banyan Tree Group, the trailblazer in luxury hospitality, marks its 30th anniversary by rebranding itself as “Banyan Group.”
This shift represents the Group’s evolution into a dynamic, multi-brand hospitality powerhouse that has set new benchmarks across hotels, spas, residences, food, and retail.
Since 2019, the Group has doubled its brand portfolio, introducing innovative experiences in new destinations such as Banyan Tree AlUla in Saudi Arabia, Garrya in Kyoto, and Folio in Osaka, Japan.
The expansion also includes ventures in Dhawa in Ho Tram, Vietnam, Homm in Huzhou, China, and Banyan Tree Dubai in the United Arab Emirates. The robust performance in 2023, surpassing pre-pandemic levels, sets the stage for a promising future.
Multi-Brand Growth in 2024: 19 New Openings
Eddy See, President and CEO of Banyan Group, emphasizes the milestone as a testament to the Group’s enduring success and its transformation into a diverse offering.
In 2024, the Group plans to launch 19 new properties and residences across Asia and Mexico, including the debut of its first property in Cambodia – Angsana Siem Reap and the introduction of Banyan Tree Higashiyama Kyoto in Japan.
Further strengthening its multi-brand presence, the Group is set to unveil new brands in Vietnam, South Korea, and China. Notable additions include Angsana Quan Lan in Halong Bay, Garrya Mu Chang Chai in Vietnam, Cassia, and Homm Sokcho in South Korea. Suzhou, China, will feature two complexes, highlighting the Group’s commitment to strategic growth.
Record-Breaking Business Performance in 2023
The year 2023 showcases remarkable growth, with hotels achieving a 44% increase in RevPAR (Revenue per Available Room) compared to 2022 and surpassing pre-pandemic levels by 27%. Residence sales for 9M2023 reached 90% of the full-year sales in 2022, showcasing sustained demand.
China emerges as a strategic driver, with a notable 49% increase in RevPAR in 9M2023 compared to the same period last year. The Group’s operating footprint has expanded from 16 properties in 2019 to 25 in 2023, with 14 more in the pipeline. The recent buyback deal with China Vanke further solidifies the Group’s position, streamlining strategic decision-making.
Sustainability Commitments: Towards a Greener Future
Simultaneously, the Group maintains its commitment to design-led experiences and a purpose-driven mission. Ren Yung Ho, Senior Vice President, Brand & Commercial, highlights the company’s dedication to positive change for both people and the planet. In 2024, Banyan Group aligns with United Nations Climate Science-based Targets, developing a comprehensive 2030 Sustainability Roadmap.
The Group introduces Laguna Lakelands in Phuket, a nature-integrated development spanning 110 hectares. This ambitious project includes a Rainforest park, treetop skywalks, and distinct living zones, setting new standards for immersive living and sustainable practices.
New Programming and Initiatives: Beyond and Banyan
As part of its 30th-anniversary celebration, Banyan Group launches Beyond, a digital companion offering a holistic experience based on its codified wellbeing framework.
Additionally, the Group introduces Banyan, an experiential members programme rewarding engagement, interactions, and actions. The celebration extends globally with 11 trade pop-ups, consumer campaigns, signature scents, and limited edition artisanal gifts crafted in collaboration with local communities.
Banyan Group’s rebranding signifies not just a change in nomenclature but a transformative journey towards excellence, sustainability, and diversified offerings. With a robust pipeline of properties and a commitment to positive change, Banyan Group is poised to shape the future of hospitality in the years to come.
