Expansion Initiative: Banyan Tree Hospitality Group to Launch 19 New Properties in 2024
“Under the rebranded Banyan Group umbrella, new properties are set to launch in various locations including Kyoto, China, Vietnam, South Korea, Mexico, and beyond.”
Banyan Tree, founded by entrepreneurs Ho Kwon Ping and Claire Chiang, celebrates its 30th anniversary with plans to unveil 19 new properties in 2024. The company announced a transition from Banyan Tree Group to Banyan Group, signifying its growth as a diverse, multi-brand hospitality entity. This change aims to differentiate new labels from the luxury Banyan Tree brand.
Since 2019, the group has expanded its brand portfolio, introducing offerings catering to diverse guest segments at various price points, including Angsana, Cassia, Dhawa, Garrya, Homm, and Folio. Simultaneously, the group has expanded into new destinations, inaugurating properties like Banyan Tree AlUla in Saudi Arabia, Garrya in Kyoto, Folio in Osaka, Japan, Dhawa in Ho Tram, Vietnam, and Banyan Tree Dubai in the UAE.
Continuing its momentum, the company plans to introduce a lineup of new properties and residences this year. Japan will welcome its inaugural Banyan Tree establishment – Banyan Tree Higashiyama Kyoto. In China, Banyan Tree Suzhou Shishan, Banyan Tree Dongguan Songshan Lake, and Banyan Tree Yangcheng Lake are slated for opening. Additionally, Banyan Tree Veya Valle de Guadalupe will launch in Mexico. In Vietnam, new brands include Angsana Quan Lan in Halong Bay and Garrya Mu Chang Chai, while South Korea will see the debut of Cassia and Homm Sokcho.
“This brand evolution mirrors our portfolio’s shift from a singular luxury brand to the diverse offering we present today,” stated Eddy See, President and CEO of Banyan Group. “Nearly half of the countries we operate in feature a multi-branded presence, predominantly in high-growth travel destinations. With a focus on expansion, we’re capitalising on new opportunities with our unique brands, tailored to meet evolving traveller preferences and needs in these dynamic markets.”
New sustainability commitments and initiatives have been unveiled, including the creation of a comprehensive 2030 Sustainability Roadmap aligned with the United Nations Climate Science-based Targets,” stated Ho Ren Yung, Senior Vice President, Brand & Commercial at Banyan Group. “The core beliefs and values that have propelled Banyan Group to this milestone will continue to drive our growth strategy as we remain committed to being a catalyst for positive change for both people and the planet.
In Phuket, Thailand, the group will unveil Laguna Lakelands, its largest nature-integrated project yet, spanning 110 hectares and featuring a range of immersive living experiences. Additional initiatives comprise Beyond, a comprehensive digital companion providing a holistic experience within its wellbeing framework, and withBanyan, an experiential membership program incentivizing engagement, interactions, and actions.
