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In celebration of its thirtieth anniversary, the impartial, world hospitality firm publicizes landmark milestones and thrilling developments for the longer term. Celebrating three a long time of creating distinctive experiences throughout accommodations, spas, residences, meals and retail, Banyan Tree Group is evolving its company umbrella model from “Banyan Tree Group” to “Banyan Group”. This model shift displays the Group’s evolution into a dynamic, multi-brand hospitality powerhouse.
Since 2019, the Group has doubled its model portfolio, bringing its pioneering spirit, design-led experiences, and goal pushed mission to new locations, together with 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 the United Arab Emirates. 2023 additionally marks a 12 months of robust and regular enterprise efficiency that has surpassed pre-pandemic ranges.
Multi-brand Growth Continues in 2024 With 19 New Openings
As we rejoice the Group’s thirtieth anniversary and its evolution into Banyan Group, this milestone is not solely testomony to the Group’s enduring success in the hospitality trade but additionally units the stage for an thrilling future. This model evolution displays our portfolio transformation from a single luxurious model to the various providing we’ve at this time. Almost half of all of the international locations we function in carry a multi-branded presence, with most of them being high-growth journey locations. With a eager eye on growth, we’re seizing new alternatives with our distinct manufacturers, designed to meet evolving traveller preferences and desires in these dynamic markets. Eddy See, President and CEO of Banyan Group
Banyan Group presently manages 12 world manufacturers, 75 accommodations and resorts, over 60 spas and galleries and 14 branded residences throughout 22 international locations. As half of a strong pipeline of properties, the Group’s growth in 2024 will embody 19 new properties and residences in Cambodia, China, Japan, South Korea, Vietnam and Mexico. Here are the highlights:
- The Group’s first property in Cambodia will debut with Angsana Siem Reap.
- The first Banyan Tree property in Japan, Banyan Tree Higashiyama Kyoto.
- Further enhancing Banyan Group’s multi-brand presence, further manufacturers are set to debut in Vietnam – Angsana Quan Lan in Halong Bay and Garrya Mu Chang Chai, in addition to in South Korea with Cassia and Homm Sokcho.
- Suzhou, roughly 2 hours away from Shanghai by practice or automotive, will function two complexes – The first, in Shishan, will embody Banyan Tree and Angsana, whereas the second, by Yangcheng Lake, will embody Banyan Tree and Garrya.
- Angsana Tengchong marks the Group’s fifth property in the Yunnan province of China.
- In North America, Banyan Tree Veya Valle de Guadalupe marks the debut of the primary full-fledged Banyan Tree Veya in Mexico.
Record-Breaking Business Performance in 2023
The strong progress slated for 2024 has been pushed by a resilient restoration post-Covid, surpassing pre-pandemic metrics throughout numerous regional markets. Key 2023 metrics embody:
- Hotels achieved increased RevPAR, up by 44%, in 9M2023 in contrast to 9M2022, and likewise surpassed the pre-pandemic efficiency by 27% as opposed to 9M2019, on a identical store-store foundation.
- Residence gross sales for 9M2023 reached 90% of the full-year gross sales in 2022, which was the perfect 12 months on report.
- China has confirmed to be a strategic driver, with a outstanding +49% improve in RevPAR 9M2023 in contrast to the identical interval final 12 months, and +18% improve in RevPAR in contrast to pre-Covid stage in 2019 on a same-store foundation. The working footprint has expanded from 16 in 2019 to 25 properties in 2023, with 14 extra in the three-year pipeline. Continued progress is anticipated, pushed by a wholesome opening pipeline and the energy of the home and outbound Chinese market in each residences and hospitality.
- The latest buyback deal with China Vanke additional strengthens the Group’s place as a key participant in the hospitality trade by streamlining strategic decision-making in response to market dynamics and enhancing day-to-day operational effectivity.
New Sustainability Commitments and Deepened Differentiation
Simultaneously, the corporate has maintained its pioneering spirit and dedication to each design-led experiences and a purpose-driven mission of stewardship and accountable tourism, making it a trailblazer for inclusive progress and sustainability.
As Banyan Group celebrates our collective success during the last 30 years, we additionally acknowledge that the progress can’t cease right here. The core beliefs and values which have guided Banyan Group to this milestone will proceed to underpin our progress technique as we stay devoted to being a pressure for constructive change for each individuals and the planet. Ren Yung Ho, Senior Vice President, Brand & Commercial at Banyan Group
In 2024, Banyan Group will align with United Nations Climate Science-based Targets to develop a complete 2030 Sustainability Roadmap that addresses each environmental and human capital growth in line with its founding ethos of Embracing the Environment, Empowering People. It may also pioneer a circularity pilot challenge, reinforcing the model’s dedication to advance the hospitality trade’s transition to regenerative practices.
The Group may also launch Laguna Lakelands in Phuket, its most bold nature-integrated growth. Spanning 110 hectares, Laguna Lakelands will embody a Rainforest park, over 10km of treetop skywalks, and 6 distinct zones—orchard, lakeside, lagoon, valley, and forest—ushering in a new period of immersive residing.
New Programming and Initiatives
During its thirtieth anniversary in 2024, Banyan Group will launch Beyond, a new digital companion that gives a holistic expertise throughout its codified wellbeing framework, and withBanyan, an experiential members programme that rewards engagement, interactions and actions. The celebration extends globally with 11 commerce pop-ups, partaking world shopper campaigns, the launch of 8 signature scents impressed by the Group’s eight pillars of wellbeing and restricted version artisanal anniversary items, all crafted in collaboration with the communities the place the Group operates.
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