Banyan Group has announced significant growth in 2024, marking its 30th year with a record number of new openings across its brand portfolio, including Banyan Tree. The hospitality group has expanded its presence in key markets with new spas, galleries and residences.
New Banyan Tree Hotels
The company's flagship Banyan Tree brand is leading the expansion with five new properties this year, including entries into new markets. Recent openings include Banyan Tree Dongguan Songshan Lake and Banyan Tree Suzhou Shishan in China, as well as Banyan Tree Veya in Mexico’s Valle de Guadalupe. The brand is set to debut in Japan with Banyan Tree Higashiyama Kyoto in August 2024, and to expand further in China with Banyan Tree Yangcheng Lake Suzhou, also in August.
Other Expanding Brands
Garrya, launched in 2021, has become the group's fastest-growing brand, adding three new properties in 2024, including two in China and one in Vietnam. The Homm brand has nearly doubled its footprint this year with six new openings, including three hotels in Kyoto, Japan. The group also welcomed two new Angsana hotels, as well as the new Cassia Sokcho in South Korea.
"From breaking records with our flagship brand to unveiling our largest property to date, we're not merely growing — we're thriving,” said Eddy See, CEO of Banyan Group. “Our expansion during our 30th anniversary is a testament to our steadfast dedication to delivering unparalleled experiences and driving purposeful growth in dynamic markets."
The group is also expanding its residences portfolio and plans to launch Banyan Living, a residential rental marketing platform, later this quarter.
"In response to the increasing demand for quality residential rentals, Banyan Group is pleased to introduce Banyan Living,” said Michal Zitek, assistant vice president of regional operations for Banyan Group. “This dedicated rental marketing portal will provide consistent, high-quality service and create opportunities for residence owners to generate income through a seamless rental experience."
New Spas, Retail and More
Additionally, Banyan Group has added six new spas in China and Mexico in 2024, with eight more projected to open by year-end. And the company's Banyan Gallery (which promotes craft and sustainability through merchandise) is set to open five more retail outlets by the end of 2024.
The Banyan Global Foundation has announced its 2024 Greater Good Grants, approving 30 grants focusing on six key areas aligned with the United Nations Sustainable Development Goals. The program is designed to identify and boost initiatives that benefit local communities and the environment.
Editor’s Note: This article was generated by AI, based on a press release distributed by Banyan Group. It has been fact-checked and reviewed by a TravelAge West editor.
