Skift Take
Banyan Group, the Singapore-based luxury hotel operator, is on a growth spree. It is also going asset-light faster than you can say "fee-based income."
Banyan Group is set to open a record number of luxury hotels and resorts this year. The Singapore-based luxury hotel operator also plans to expand into the Bahamas and introduce a residential rental offering, according to an update this month.
By the numbers: The luxury group will have opened 10 hotels and resorts this year by the time December rolls around. The group's flagship brand, Banyan Tree, is set to open five hotels this year, including its first hotel in Japan. Another brand, Garrya, will open three new properties this year. The group's Homm brand, founded in 2022, offers branded residential places. It expects to have six new openings across Ja