Banyan Group Continues Growth Momentum with Record Openings in its 30th Year

Banyan Group, an independent multi-branded global hospitality leader, continues its 2024 expansion trajectory, building on its 30th year with significant growth and a record number of new openings for the flagship Banyan Tree brand. This expansion includes developments across hotels, spas, galleries, and residences, further solidifying Banyan Group’s diverse portfolio and its strategic presence in dynamic markets.

 "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. Our strategic foresight and adaptability to market demands are reflected in the remarkable expansion of our offerings, surpassing the ever-evolving needs of travellers."

 In January 2024, Banyan Group announced a robust pipeline for the year, encompassing hotels, spas, galleries, and residences. With 10 openings to date, the second half of 2024 promises continued momentum with additional high-profile launches across key markets.

Banyan Tree — New Markets and Growth

The flagship brand, Banyan Tree, is leading with a record number of five openings in one year. Recent openings in China include Banyan Tree Dongguan Songshan Lake and Banyan Tree Suzhou Shishan, with Banyan Tree Yangcheng Lake, Suzhou debuting in August 2024. The brand has also expanded in Mexico with the opening of  Banyan Tree Veya, Valle de Guadalupe, in May 2024, a 16-acres wellbeing-focused resort with sleek and modern design that blends seamlessly into the bespoke vineyards.

A significant milestone is the debut of Banyan Tree in Japan with Banyan Tree Higashiyama Kyoto opening in August 2024. Located in the historic Gion and Higashiyama districts, it will be the only hotel in the area with a natural onsen on-site, featuring traditional Japanese architecture and modern design. The intimate 52-room hotel is enveloped by a bamboo forest, designed to evoke harmony with the sense of place.

Garrya — Fastest-Growing Brand

Since its launch in 2021, Garrya has become Banyan Group’s fastest-growing brand, adding three new properties in 2024: Garrya Xianju and Garrya Yangcheng Lake in China, and Garrya Mù Cang Chải in Vietnam. The latter, opening in August 2024, will be characterised by an ecologically sensitive design and is the largest bamboo architecture in Vietnam, combining cultural Vietnamese symbolism with contemporary design.

Garrya offers simplicity designed for modern lifestyles. Current locations include Huzhou Lucun and Xi’an Lintong in China, Kyoto in Japan, Tongsai Bay Samui in Thailand and Yogyakarta in Indonesia, marking eight total properties for the boutique brand.

Homm, Angsana, Cassia — Expanding Footprint

Banyan Group’s Homm has nearly doubled its footprint in 2024 with six new openings, including Homm Stay Nagi Shijo Kyoto, Homm Stay Nagi Sanjo Kyoto, and Homm Stay Nagi Arashiyama Kyoto in Japan as well as Homm Marina Sokcho in South Korea. Homm Zhuhai Hengqin and Homm Changchun Beihu in China will open later this year.

The Group also welcomed several other new properties: Angsana Suzhou Shishan in March 2024, its largest property by number of rooms to-date–a 674-room Cassia Sokcho in June 2024, and Angsana Quan Lan on 1 July 2024. More properties are set to open in the coming months, strengthening Banyan Group's presence in high-growth destinations. This expansion underscores Banyan Group's strategic positioning to leverage the increasing growth of the middle class in key markets.

Residences — Debut of Banyan Living

Banyan Group’s Residences portfolio continues to expand with recent launches in Phuket, including Banyan Tree Beach Villas, Banyan Tree Beach Residences, and Garrya Residences, alongside upcoming projects for Laguna Beachside, Skypark at Lakelands, and a new upscale waterfront condominium near Cassia.

Looking ahead, Banyan Group will introduce Banyan Living later this quarter, aiming to establish itself as a globally recognized residential rental marketing platform. This initiative completes the circle of support for its clients, offering a range of branded residences and villas for short and longer-term rentals in unique destinations.

“In response to the increasing demand for quality residential rentals, Banyan Group is pleased to introduce Banyan Living,” said Michal Zitek, AVP Regional Operations of 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.”

Spa & Galleries

Banyan Group has added six new spas in China and Mexico in 2024 with Banyan Tree Spa Dongguan Songshan, Banyan Tree Spa Suzhou Shishan, 8LEMENTS Spa Dhawa Jinan Daming Lake, Shandong and Banyan Tree Veya Valle de Guadalupe, 8LEMENTS Spa at Cassia Sokcho, Angsana Spa Quan Lan, and eight more projected to open by the end of the year.

Banyan Gallery, focused on craft and sustainability through merchandise will also see five more retail outlets opened by the end of 2024, supporting artisans worldwide and enriching the guest experience with products that authentically reflect the essence of each destination.

Greater Good Grants for Sustainable Development

Further demonstrating its commitment to sustainable development, Banyan Global Foundation has announced its 2024 Greater Good Grants. The foundation actively engages more than 12,000 associates to identify initiatives that benefit local communities and environments. 30 grants have been approved focusing on six key areas aligned with the United Nations Sustainable Development Goals: Biodiversity & Conservation, Resource Use & Waste Management, Climate Change & Resilience, Education & Empowerment, Health & Protection, and Culture & Livelihood.