Singaporean hospitality group, Banyan Tree Group, has unveiled ambitious plans to double its footprint worldwide by 2025, with a string of new properties planned for Asia.
The announcement follows in the footstep of the group launching its latest brand, Dhawa, a casual and contemporary full-service hotel experience that aims to bring together innovative design, comfort and technology.
In January this year, the brand debuted with Dhawa Xi’an Chanba in China. This was followed by the opening of Dhawa Ihuru in the Maldives’ North Malé Atoll, a rebrand from Angsana Ihuru, also part of the group.
The brand will enter Vietnam’s Ho Tram and Ha Long Bay this year, and a third will open in China’s Daming Lake. In 2024, Dhawa properties in Binh Dinh, Vietnam and Palawan, the Philippines will begin to welcome guests.
Judy Ong, director of sales and marketing, Maldives, said Banyan Tree Group has been extending its reach. At the end of 2022, the group has 63 properties across 10 hospitality brands. It also enjoyed a year-on-year 23 per cent spike in revenue last year due to the recovery of international travel. This saw the company’s operating profits increase nine-fold to US$31.4 million.
Eight new properties joined the portfolio last year and another nine is planned for 2023. The group intends to double its portfolio by 2025.
“Our goal is to open 50 new or converted hotels, pushing our portfolio to 113 hotels,” she told TTG Asia, adding that the focus will be on wellness, lifestyle and extended stay brands. Properties in the pipeline throughout Asia span China, Indonesia, Japan, Singapore, South Korea, the Philippines and Vietnam.
Ong said: “This is an exciting time for Banyan Tree Group as we explore more markets and expand our brands and global reach.”