Banyan Tree

AccorHotels invests S$24m in Banyan Tree

French multinational company AccorHotels will be investing S$24 million into Singapore-based hospitality brand Banyan Tree Holdings, the latter said in a press release on Thursday (Dec 8). Under the long-term partnership, both parties intend to work together to develop and manage Banyan Tree branded hotels around the world. Banyan Tree will also have access to AccorHotels’ global reservations and...

Banyan Tree opens its first spa in Singapore

Banyan Tree has opened its first spa in Singapore - at the 55th level of Marina Bay Sands. The hospitality group said the location is just right for its new venture. Banyan Tree has spent the past 17 years opening spas and resorts in more than 20 countries around the world. China is a key market, with some 20 to 30 projects already signed. However, Banyan Tree said it does not want to be China-centric,...

Banyan Tree’s Q4 net profit jumps 6-fold

Mainboard-listed luxury resorts operator Banyan Tree said its fourth-quarter net profit increased by six-fold to S$19.5 million. This was mainly due to gains on the sale of Dusit Laguna Phuket in October last year. However, the higher profit was partially reduced as a result of the adverse impact of the anti-government riots in Bangkok in April and May last year on its Hotel Investments and Property...

Banyan Tree made net loss of S$9.2m in second quarter of the year

Mainboard-listed luxury resorts operator Banyan Tree says it has sunk deeper in the red. It made a net loss of S$9.2 million in the second quarter this year, wider than the S$4.2 million loss incurred in the year-ago period. Banyan Tree said this was mainly due to the adverse impact of anti-government riots in Bangkok in April and May this year. It added that this was further compounded by the Iceland...

Laguna Resorts & Hotels to sell Thai hotel asset for S$110m

Mainboard-listed luxury resorts operator Banyan Tree says one of its subsidiaries is selling a hotel asset in Thailand for some S$110 million. The subsidiary, Laguna Resorts & Hotels, is selling the "Dusit Thani Laguna Phuket" in Phuket to Dusit Thani Public Company. The expected gain on disposal for Banyan Tree is about S$68.4 million. The excess of the sale proceeds over the book value is expected...

Banyan Tree reports Q4 net profit of S$2.97m

Mainboard-listed luxury resorts operator Banyan Tree is back in the black in the fourth quarter. Banyan Tree booked a net profit of S$2.97 million - a sharp reversal from the S$6.9 million loss in the same period a year ago. For the whole of 2009, net profit came in at S$3 million. This was a 57 per cent drop on-year. Banyan Tree said the fall was due to a strong first half in 2008. Its bottomline was...

Banyan Tree narrows Q3 net loss from S$4.9m to S$968,000

Mainboard-listed luxury resorts operator, Banyan Tree, has narrowed its third quarter net loss to S$968,000 from S$4.9 million a year earlier. It said on Thursday this was achieved on the back of good revenue growth from its hotel investments and management segments, coupled with cost-cutting measures. Overall revenue for the three months ended September fell 14 per cent to S$71.2 million. This was...

Banyan Tree adopts SAS Human Capital Management Solutions

Luxury resorts operator Banyan Tree will be adopting the SAP ERP Human Capital Management solution to transform its traditional Human Resource operation. Through this integrated solution, Banyan Tree will be moving away from administrative human resource processes. Instead, it'll embrace progressive approaches such as employee self-service to gain greater efficiency, lower costs and increase service...

Banyan Tree plans to use fund-based model to develop future projects

Singapore Exchange's Mainboard-listed Banyan Tree Holdings said its first real estate investment fund has proven successful. The luxury resorts developer plans to use the fund-based model to develop future projects in markets such as China and the Philippines. Banyan Tree is tapping into its first real estate investment fund to finance the development of its Laguna Hue project in central Vietnam. Its...

Banyan Tree’s US$900m Vietnam resort on track for phase one development

Hospitality group Banyan Tree is on track to develop one of Vietnam's largest integrated resorts. The phase one development of its US$900 million beachfront project Laguna Hue will commence on Saturday with a groundbreaking ceremony. The Singapore-listed company raised US$283 million for the project through a real estate fund established in 2008. When the first phase of the 280-hectare project is...

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