Singapore-based Banyan Tree has announced plans to double its portfolio by 2025, including the launch of no less than five new brands over the next 18 months.
The new concepts are called Garrya, Homm, Folio, Veya and Escape, the last two of which are described as “brand extensions of Banyan Tree”.
The firm said that the new brands “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”.
Banyan Tree has opened seven hotels in 2021, including Garrya Huzhou Lucun in China (pictured above), Homm Bliss Southbeach Patong and Banyan Tree Veya Phuket.
A total of four Garrya and two Homm properties have been signed in Asia so far.
Banyan Tree plans to open 19 hotels next year in Maldives, Thailand, China, Indonesia, Cambodia, Mozambique and Saudi Arabia, with a target of doubling its current portfolio of 54 properties by 2025. Earlier this year the group opened its first European hotel, the Angsana Corfu.
Banyan Tree entered into a strategic partnership with Accor in 2016, and was integrated into the Club Accorhotels scheme (now known as ALL) in 2019.
Commenting on the news Mr Eddy See, president and group managing director of Banyan Tree Group, said:
“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 travellers around the world.
“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.”
