Banyan Group has acquired a majority stake in Cape Town-based Newmark Hotels & Reserves under a phased ownership structure that will lead to full ownership over time.
The deal brings Newmark into Banyan Group as a collection brand, adding 26 hotels, lodges and reserves across Mauritius, Namibia, Nigeria, South Africa, Tanzania, Uganda and Zimbabwe.
With the addition, Banyan Group’s portfolio will comprise nearly 130 hotels, resorts and reserves, more than 30 branded residences, and over 140 spas and galleries across 14 hospitality and residential brands in 28 countries.
Newmark, founded by CEO Neil Markovitz in 2007, will retain its brand, leadership and operating structure. Day-to-day operations, property branding, owner relationships and existing commercial arrangements will remain unchanged.
Its portfolio spans city and heritage hotels, lodges, island properties and private game reserves. Among them are the 11,000-hectare QWABI Private Game Reserve in South Africa’s Waterberg, Motswari Private Game Reserve in the Greater Kruger ecosystem and Gorilla Heights Lodge near Uganda’s Bwindi Impenetrable National Park.
The transaction extends Banyan Group’s African network into Namibia, Nigeria, Uganda and Zimbabwe. The group currently has four hotels and four spas across Morocco, Mauritius, South Africa and Tanzania, with Dhawa Ouidah in Benin also in the pipeline.
Newmark will retain its direct booking channels, while its properties will be added to Banyan Group’s booking platforms and withBanyan guest recognition programme over time.
“We welcome Newmark to Banyan Group with confidence in the strength of the business it has built in Africa and the entrepreneurial spirit that has shaped it,” said Ho Kwon Ping, founder and executive chairman of Banyan Group.
“Joining Banyan Group gives us greater international reach and access to a wider network of expertise while retaining what has made Newmark successful,” added Markovitz.
