Banyan Tree Group has changed its corporate umbrella brand from ‘Banyan Tree Group’ to ‘Banyan Group’. Since 2019, the group has doubled its brand portfolio including 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 in UAE. Last year, the group witnessed a strong and steady business performance that surpassed pre-pandemic levels.
Its h otels achieved higher RevPAR, up by 44 per cent, ending September 2023 compared to the same period last year. It also surpassed the pre-pandemic performance by 27 per cent (2019) on a same-store-store basis. Residence sales for the same period reached 90 per ent of the full-year sales in 2022, which was the best year on record.
“As we celebrate the group’s 30th anniversary and its evolution into Banyan Group, this milestone is not only a testament to the group’s enduring success in the hospitality industry but also sets the stage for an exciting future,” said 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. Almost half of all countries we operate in carry a multi-branded presence, most of them high-growth travel destinations.
With a keen eye on expansion, we are seizing new opportunities with our distinct brands, designed to meet evolving traveller preferences and needs in these dynamic markets,” he added. Banyan Group currently manages 12 global brands, 75 hotels and resorts, over 60 spas and galleries, and 14 branded residences across 22 countries. As part of a robust pipeline of properties, the group’s expansion in 2024 will include 19 new properties and residences in Cambodia, China, Japan, South Korea, Vietnam and Mexico.
The recent buyback deal with China Vanke further strengthens the group’s position as a key player in the hospitality industry. Banyan Group in 2024 In 2024, Banyan Group will align with United Nations Climate Science-based Targets to develop a detailed 2030 Sustainability Roadmap that covers both environmental and human capital development. It will also start a circularity pilot project, reinforcing the brand’s commitment to advance the hospitality industry’s transition to regenerative practices.
The group will also launch Laguna Lakelands in Phuket, its most ambitious nature-integrated development. Spanning 110 hectares, Laguna Lakelands will encompass a Rainforest park, over 10km of treetop skywalks, and six distinct zones, featuring an orchard, lakeside, lagoon, valley, and forest. Marking 30th year with new initiatives During its 30th anniversary in 2024, Banyan Group will launch Beyond, a new digital companion that offers a holistic experience across its codified wellbeing framework, and withBanyan, an experiential members programme that rewards engagement, interactions and actions .
The anniversary activities will extend globally with 11 trade pop-ups, engaging global consumer campaigns, the launch of 8 signature scents inspired by the group’s eight pillars of wellbeing, and limited edition artisanal anniversary gifts. .
From: gulfbusiness
URL: https://gulfbusiness.com/banyan-tree-group-changes-name-2024-30th-anniv/