Banyan Group to significantly grow global portfolio in 2024

Banyan Tree Higashiyama Kyoto
In addition to announcing a shift from its name Banyan Tree Group to Banyan Group, the hospitality company has revealed an impressive pipeline of new hotels for 2024.

Coinciding with its 30th year, the group is on track to opening a significant 19 new properties in 2024. These openings span a diversity of brands across the group’s evolving portfolio.

Significant brand growth

Having almost doubled its brand portfolio since 2019, Banyan Group is continuing its growth momentum in the coming year with plans to launch a series of exciting new hotels.

“As we celebrate the Group’s 30th anniversary and its evolution into Banyan Group, this milestone is not only testament to the Group’s enduring success in the hospitality industry but also sets the stage for an exciting future,” said Eddy See, President and CEO of Banyan Group.

“This brand evolution reflects our portfolio transformation from a single luxury brand to the diverse offering we have today. Almost half of all countries we operate in carry a multi-branded presence, most of them high-growth travel destinations. With a keen eye on expansion, we are seizing new opportunities with our distinct brands, designed to meet evolving traveller preferences and needs in these dynamic markets.”

Through this growth, the group is reinforcing its commitment to sustainability and deepened differentiation of the hotel experience. In the coming year, the group will align with the United Nations Climate Science-based Targets to develop a 2030 Sustainability Roadmap that also meets its founding ethos of Embracing the Environment, Empowering People.

“As Banyan Group celebrates our collective success over the last 30 years, we also recognise that the progress can’t stop here,” said Ren Yung Ho, Senior Vice President, Brand & Commercial at Banyan Group. “The core beliefs and values that have guided Banyan Group to this milestone will continue to underpin our growth strategy as we remain dedicated to being a force for positive change for both people and the planet.”

Global brand debuts

Throughout 2024, Banyan Group will launch 19 new properties and residences in Cambodia, China, Japan, South Korea, Vietnam and Mexico, across its 12 global brands, which currently span 22 countries.

The group will make its debut in Cambodia with the opening of Angsana Siem Reap, and the group’s first Banyan Tree property in Japan will come with the launch of Banyan Tree Higashiyama Kyoto.

Marking brand debuts in Vietnam, 2024 will see the opening of Angsana Quan Lan in Halong Bay and Garrya Mu Chang Chai, with Cassia and Homm Sokcho then opening in South Korea. In Suzhou, China, Banyan Tree and Angsana will both open in the Shishan complex, with Banyan Tree and Garrya opening in a complex by Yangcheng Lake.

On opening, Angsana Tengchong will become the group’s fifth property in Yunnan. Across the other side of the world, Banyan Tree Veya Valle de Guadalupe will mark the debut of the first Banyan Tree Veya in Mexico.

Notably, the group is also set to open its most ambitious nature-integrated development to date, Laguna Lakelands in Phuket, which will span 110 hectares and encompass a rainforest park, treetop skywalks and distinct zones including an orchard, lakeside, lagoon, valley and forest.

Additionally in 2024, the group will launch the new digital companion Beyond, along with the experiential members programme with Banyan.