Real estate news on Banyan Tree eyeing 20 properties in India in 6 years

Hotels and resorts, New projects, Goa, Bengaluru, Ludhiana, Banyan Tree
Posted on Apr 09, 2013
MUMBAI: Singapore-based Banyan Tree Holdings, which manages and develops premium resorts, hotels and spas, is eyeing around 20 properties in the country in the next six years, a top company executive has said.

"We are planning 15-20 properties in India under our brands, Banyan Tree Hotels and Resorts and Angsana Hotels and Resorts, mostly constituting about 150-100 rooms each. We have recently announced the launch of our first 60-room property under our flagship brand Banyan Tree Hotels and Resorts in Kerala," Banyan Tree Hotels and Resorts Chief Executive Officer Abid Butt told PTI here.

While Banyan Tree Hotels and Resorts offer a retreat experience featuring rejuvenation, Angsana Hotels and Resorts have a more trendy and spirited personality.

Besides its Kerala property, the company has three properties in pipeline in Goa, Bangalore and Ludhiana (Punjab) under both its brands, he said.

"We are well known as a resort destination and in India we would love to be in the metro markets and are mainly looking at contract management opportunities," Butt said.

Globally Banyan Tree Group manages or has ownership interest in 33 resorts and hotels, over 60 spas and 82 retail galleries and three golf courses. Angsana Hotels and Resorts has more than 10 resorts and over 40 spas globally.

The company is also looking forward to develop big projects like resorts, spas, hotels and golf course together similar to its Banyan Tree Lang Co in Vietnam, he said.

On if they would go for tie-ups with local partners in India, Butt said: "Definitely if there are any opportunities."

The company is also actively considering to develop a mid-market brand. "There is a huge opportunity in the mid-market segment. So to tap it, we are actively considering to create a brand," he said.

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