Banyan Tree Group is set to double its footprint of 54 properties across 23 countries by 2025. The luxury brand will also introduce five new brands in the next 18 months.
In 2022, the group will introduce the new Garrya, Homm and Folio brands, as well as two brand extensions of Banyan Tree named Veya and Escape. The expanded global portfolio of ten unique brands will allow the group to increase its impact in the countries where it operates whilst taking advantage of post-Covid-19 growth opportunities in purposeful travel.
The portfolio expansion supports new milestones in the group’s RevPAR, which improved 18 per cent in the first nine months of the year when compared to the same period in 2020.
“We have always believed that tourism can be a powerful force for driving positive change.
“It is our generation’s mission to build forward better together with our partners and guests, and redefine what essential, purposeful and responsible travel looks like in this next era,” said Ho Ren Yung, senior vice president, brand, for Banyan Tree.
Each of the five 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.
“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 travelers around the world,” said Eddy See, president of Banyan Tree Group.
“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.”
This year to-date, Banyan Tree Group has signed 20 hotel management agreements worldwide including Benin, Mexico, Greece, Saudi Arabia, Korea, Thailand, China and Vietnam. The company opened 7 hotels so far this year, including last month’s opening of the first Garrya Huzhou Lucun in China followed by the debut of Homm Bliss Southbeach Patong and soft-opening of Banyan Tree Veya Phuket.
Four Garrya and two Homms have been signed in Asia with more in the pipeline.