(Incorporated in the Republic of Singapore)

(Company Registration Number 200003108H)


Banyan Tree Holdings Limited (the “Company”, and together with its subsidiaries, the “Group”) would like to issue a business update.


  • Higher operating profit by 76% against 3Q21;
  • Hotel Revenue per available room (RevPAR) up by 56% compared to 3Q21;
  • Total Property segment sales of 2022 exceeds pre-COVID period;
  • Expansion continues with 7 hotel openings, and 5 more before year end; and
  • Total of 69 awards in 2022 from 9 countries, adding up to a total of 2,988 awards and recognitions to date.

Growth in Hotel Operations’ Occupancy and RevPAR

Overall improvement in all hotel performance metrics, with all regional markets witnessing growth in occupancy and RevPAR. Hotels in Thailand and Maldives which are part of the Hotel Investments segment recorded revenue growth of 150% in 3Q22, compared to the same period last year. The Group’s fee-based segment, which is largely from hotel management fees, recorded an increase of 30% against 3Q21. China’s hotel operations rebounded following the easing of lockdowns and recorded a RevPAR growth surpassing 3Q21 by 23%.

The Group’s Property Business Gears Up for Strong Outlook

Overall property business continues to see strong demand–total sales value in 2022 will exceed pre-COVID performance and is on track for a record year, with Phuket being internationally recognised as a high-end residential destination given 10-year residential visas are now available in Thailand.

Banyan Tree Group Properties sees a shift in demand from residential buyers, from hotel-managed residences to private residences that are being used as primary or secondary homes.

Demand for luxury property is surging – affordable price segments were most in demand in past years, however, demand for luxury price segment products is returning with the anticipated launch of new Banyan Tree Phuket Private Residences in 4Q22.

Growing Our Presence

The Group operates 62 properties in 17 destinations to-date, and continues to drive a multi-branded expansion following the announcement of 5 new brands in 2021. This year the Group has seen 7 new openings and conversions, including Banyan Tree Escape in Indonesia, Banyan Tree Veya in Thailand, Banyan Tree AlUla in Saudi Arabia, Dhawa Yura Kyoto and Garrya Nijo Castle Kyoto in Japan, as well as two Homm properties in China and Thailand. The year will close with five more expected openings–1 Angsana, 2 Dhawa, 1 Garrya and 1 Homm in China, Indonesia and Thailand.

Banyan Tree Group has collected 2,988 awards and recognition to date, including the recent 2022 Readers' Choice Awards by Condé Nast Traveler USA; as well as 69 noteworthy awards for 2022 namely by Virtuoso magazine, World Spa Awards 2022, Forbes and TripAdvisor, to name but a few.

Banyan Tree continues to drive expansion of its Wellbeing Sanctuary programme, currently rolled out in 7 destinations (Bangkok, Samui, Krabi, Kuala Lumpur, Bintan, Lang Co and Mayakoba); the brand expects to add new destinations in China to the programme.

This year, Banyan Tree Group celebrated its 28th Anniversary with the debut of the annual campaign ‘Live Well, Travel Well’, featuring exclusive offers across its diversified multi-branded portfolio of hotels, resorts, spas and galleries across 23 countries.

About Banyan Group

Banyan Group (“Banyan Tree Holdings Limited” or the “Group” - SGX: B58) is an independent, global hospitality company with purpose. The Group prides itself on its pioneering spirit, design-led experiences and commitment to responsible stewardship. Its extensive portfolio spans over 70 hotels and resorts, over 60 spas and galleries, and 14 branded residences in over 20 countries. Comprising 12 global brands, including the flagship brand Banyan Tree, each distinct yet united under the experiential membership programme withBanyan. The founding ethos of “Embracing the Environment, Empowering People” is embodied through the Banyan Global Foundation and Banyan Academy. Banyan Group is committed to remaining the leading advocate of sustainable travel, with a focus on regenerative tourism and innovative programmes that elevate the guest experience.

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