Vietnam to Japan, Banyan Group Maps the Future of Travel with 19 New Hotels

In a milestone celebration of three decades dedicated to crafting exceptional experiences in the realms of hotels, spas, residences, food, and retail, the Banyan Tree Group is undergoing a transformative rebranding. The corporate umbrella, previously known as the “Banyan Tree Group,” is now evolving into the streamlined identity of “Banyan Group,” signifying the organization’s metamorphosis into a dynamic, multi-brand hospitality powerhouse.

Since 2019, the Group has doubled its brand portfolio, infusing its pioneering spirit, design-led experiences, and purpose-driven mission into new destinations. Notable additions include Banyan Tree AlUla in Saudi Arabia, Garrya in Kyoto, Folio in Osaka, Japan, Dhawa in Ho Tram, Vietnam, Homm in Huzhou, China, and Banyan Tree Dubai in the United Arab Emirates. The year 2023 marked a robust and steady business performance, surpassing pre-pandemic levels.

As the journey of multi-brand growth continues into 2024, Banyan Group presently oversees 12 global brands, managing 75 hotels and resorts, over 60 spas and galleries, and 14 branded residences spanning 22 countries. The upcoming expansion in 2024 will introduce 19 new properties and residences in Cambodia, China, Japan, South Korea, Vietnam, and Mexico, showcasing the organization’s unwavering commitment to innovation and global presence.

Highlights of the 2024 expansion include the debut of Angsana Siem Reap, the Group’s first property in Cambodia, and the introduction of Banyan Tree Higashiyama Kyoto, marking the inaugural Banyan Tree property in Japan. In Vietnam, the multi-brand presence is further enhanced with the unveiling of Angsana Quan Lan in Halong Bay and Garrya Mu Chang Chai. Meanwhile, South Korea welcomes Cassia and Homm Sokcho to the Banyan Group family.

Suzhou, strategically located approximately 2 hours away from Shanghai by train or car, is set to feature two complexes. The first, situated in Shishan, will encompass Banyan Tree and Angsana, while the second, by Yangcheng Lake, will host Banyan Tree and Garrya. Adding to the Group’s presence in China, Angsana Tengchong becomes the fifth property in the Yunnan province.

In North America, Banyan Tree Veya Valle de Guadalupe emerges as a significant debut, marking the introduction of the first full-fledged Banyan Tree Veya in Mexico. The comprehensive expansion underscores Banyan Group’s dedication to elevating global hospitality standards and creating distinctive experiences across diverse landscapes.

Experiencing a record-breaking business performance in 2023, Banyan Group has achieved remarkable growth fueled by a resilient post-Covid recovery, surpassing pre-pandemic benchmarks in various regional markets. The notable achievements in 2023 include:

– Hotels demonstrated robust performance with a 44% increase in RevPAR during 9M2023 compared to 9M2022. Additionally, on a same-store basis, they exceeded pre-pandemic levels by 27% as opposed to 9M2019.

– Residence sales for 9M2023 reached an impressive 90% of the full-year sales in 2022, which itself was a record-setting year.

– China emerged as a strategic driver, experiencing a remarkable +49% increase in RevPAR during 9M2023 compared to the same period last year. On a same-store basis, there was an +18% increase compared to pre-Covid levels in 2019. The operating footprint expanded from 16 properties in 2019 to 25 in 2023, with 14 more in the three-year pipeline. Anticipated continued growth is attributed to a robust opening pipeline and the strength of the domestic and outbound Chinese market in both residences and hospitality.

– The recent buyback deal with China Vanke has further fortified Banyan Group’s position in the hospitality industry. This strategic move enhances the Group’s ability to respond to market dynamics and improves day-to-day operational efficiency.

Simultaneously, the company has maintained its pioneering spirit and commitment to design-led experiences and a purpose-driven mission of stewardship and responsible tourism. Ren Yung Ho, Senior Vice President, Brand & Commercial at Banyan Group, expressed, “As Banyan Group celebrates our collective success over the last 30 years, we also recognize that the progress can’t stop here. The core beliefs and values that have guided Banyan Group to this milestone will continue to underpin our growth strategy as we remain dedicated to being a force for positive change for both people and the planet.”

In 2024, Banyan Group is set to align with United Nations Climate Science-based Targets, developing a comprehensive 2030 Sustainability Roadmap that addresses both environmental and human capital development. This initiative aligns with the brand’s founding ethos of Embracing the Environment, Empowering People. Additionally, the Group will pioneer a circularity pilot project, advancing the hospitality industry’s transition to regenerative practices.

Furthermore, Banyan Group will unveil its most ambitious nature-integrated development, Laguna Lakelands, in Phuket. Spanning 110 hectares, this project will feature a Rainforest park, over 10km of treetop skywalks, and six distinct zones—orchard, lakeside, lagoon, valley, and forest—ushering in a new era of immersive living.

Celebrating its 30th anniversary in 2024, Banyan Group is set to introduce new programming and initiatives. Among them is the launch of “Beyond,” a digital companion designed to provide a comprehensive experience within the group’s codified wellbeing framework. Additionally, the introduction of “Banyan,” an experiential members program, will reward engagement, interactions, and actions.

The anniversary celebration will extend globally through various channels, including 11 trade pop-ups and engaging consumer campaigns on a global scale. Furthermore, the group will unveil 8 signature scents inspired by its eight pillars of wellbeing. As part of the festivities, limited edition artisanal anniversary gifts will be presented, all collaboratively crafted with the communities in which the group operates. This multifaceted approach underscores Banyan Group’s commitment to enhancing the overall experience for its patrons and fostering meaningful connections with the communities it serves.

APPENDIX – OPENINGS IN 2024