Hotels and resorts developer Banyan Tree Holdings has posted a first quarter net profit of S$5.2 million, down 66 per cent on-year. Revenue also fell by 33 per cent to S$88.2 million in the three months ended March 31. The company attributed the decline mainly to lower performances from its hotel investment, property sales and hotel residences segments. Banyan Tree said its performance in the next two...
Banyan Tree
Luxury resorts developer and operator Banyan Tree Holdings said its full year net profit fell 91 per cent to S$7 million. The bottomline was hit by the political turmoil in Thailand last year, which led to a week-long closure of Bangkok's Suvarnabhumi International Airport and left more than 300,000 tourists stranded in November. The slowing global economy has also not helped. Revenue was flat, rising...
Banyan Tree Holdings has seen its third quarter earnings hit by political unrest in Thailand which affected its operations there. The resort developer and manager posted a 78 per cent on-year decline in net profit to S$14 million for the first nine months of the year to September. In the third quarter, the company reported a net loss of S$4.9 million compared to net profits of S$49.1 million last...
Mainboard-listed Banyan Tree Holdings has signed a management contract for an Angsana Resort & Spa in the island of Saint Lucia in the Caribbean. Banyan Tree said the Angsana Resort & Spa Saint Lucia is the group's fourth foray into the Caribbean. Angsana Saint Lucia is an integrated resort project that will comprise a full scale resort with related facilities and amenities including a marina and...
Mainboard listed Banyan Tree Holdings on Thursday announced it has booked a 38 per cent increase in first quarter earnings. Its net income for the three months ended March 31 came in at S$15.4 million, largely driven by growth in its hotel investment and hotel residence/property sales segments. Its revenue rose by 34 per cent to S$140.3 million. Banyan Tree said it is cautiously optimistic for the next...
Luxury resorts and spa operator, Banyan Tree, has announced aggressive plans to expand its global operations. The company believes that China-led growth will be a defining feature of global travel over the next few decades. So, it's expanding its operations in the Chinese mainland to 12 locations from the current four. To support the expansion, Banyan Tree said it's planning to launch a new US$400...
Luxury resorts and spa operator Banyan Tree is reaping more rewards from its overseas expansion. Banyan Tree Bintan (file picture) Its net profit for the full year jumped 142 percent to $102 million. This was achieved on the back of a 26 percent rise in revenue to $422 million. The bottomline was driven by Banyan Tree's hotel operations and property sales segments, coupled with a one-off negative...