New brands unified by “Stay for Good” program will Propel the Group to Double Global Footprint by 2025.
SINGAPORE – Banyan Tree Group, one of the world’s leading independent hospitality groups, is set to double its footprint of 54 properties across 23 countries by 2025 with the introduction of 5 new brands launching in the next 18 months. As a pioneer of purposeful stewardship and responsible tourism, this expanded global portfolio of 10 unique brands will allow the Group to increase its impact in the countries where it operates whilst taking advantage of post-Covid growth opportunities in purposeful travel.
Through the Banyan Tree Global Foundation, all brands will abide by the proprietary “Stay for Good” program*, a structured framework that aligns with the United Nations’ Sustainable Development Goals. Stay for Good embeds core stewardship values in operations and guest experience, promoting community engagement and partnership to drive long-term impact in three core pillars:
- Environment (Our Environment): Conserving ecosystems and promoting biodiversity through research and restoration, based on science-based approaches spearheaded by trained biologists via Banyan Tree Labs. Guests can also participate in on-site sustainability and educational citizen science programs such as coral or tree planting, with over half a million trees planted since 2007. Additionally, the Group’s commitment to annual reductions in energy emissions, water use and waste production is closely monitored by EarthCheck, the travel industry’s leading benchmark certification and environment management program.
- Society (Our Communities): Providing sustainable workplaces for employees by ensuring diversity, satisfaction, health, safety and welfare, as well as investing in self-paced education programs to support long-term wellbeing. One mainstay is the Group’s Seedlings program, which has nurtured over 100 youths through vocational life skills coaching, education, mentorship and scholarship programs. To date, Banyan Tree Group employs over 8,000 employees worldwide who, along with their families, benefit from these programs.
- Governance (Our Responsibility): A multistakeholder engagement approach that ensures accountability, a sustainable supply chain, responsible tourism and corporate governance. For example, Banyan Tree Group mandates a Supplier Code of Conduct requiring a commitment to maximum transparency in operations, with Food as a primary focus moving forward and a goal of 100% completion by 2025.
Deepening this mission amidst expansion, Banyan Tree Group’s operation of Stay for Good across its multi-branded ecosystem ensures that each location, no matter how far apart, is unified in its commitment to regenerative and wellbeing practices.
“We have always believed that tourism can be a powerful force for driving positive change. COVID-19 gave us the impetus, pause and opportunity to reinforce our ethos of “Embracing the Environment, Empowering People” in the context of today’s needs. It is our generation’s mission to build forward better together with our partners and guests, and redefine what essential, purposeful and responsible travel looks like in this next era.” said Ms. Ho Ren Yung, SVP Brand HQ.
Throughout 2022, the Group will introduce new brands Garrya, Homm and Folio, as well as 2 new brand extensions of Banyan Tree named Veya, and Escape. Each of the 5 new brands to be released are responses to macro and regional trends in travel accelerated by Covid’s impact such as conversion opportunities in resort destinations, emerging second-tier tourism destinations, as well as a greater desire for wellbeing and sustainability-minded travel offerings.
“This expanded multi-brand ecosystem fortifies our stronghold in the lifestyle spectrum in Asia, while diversifying our offerings to meet the evolving needs of diverse, affluent travellers around the world,” said Mr. Eddy See, President of Banyan Tree Group. “As an independent, mission driven company with our core DNA in wellbeing and sustainability, we define what ‘good growth’ looks like. We are committed to being an exemplar and leader in our field, inspiring better living for our guests and associates in all the communities where we operate.”
This year to-date, Banyan Tree Group has signed 20 hotel management agreements worldwide including Benin, Mexico, Greece, Saudi Arabia, Korea, Thailand, China and Vietnam. Four Garrya and two Homms have been signed in Asia with more in the pipeline. These portfolio additions support new milestones in groupwide hotel RevPAR, which improved 18% in the first nine months versus the same period in 2020, and a total of 7 openings in 2021 with the November opening of the first Garrya Huzhou Lucun in China, followed by the debut of Homm Bliss Southbeach Patong and soft-opening of Banyan Tree Veya Phuket in December 2021.
Looking ahead, the Group will see a total of 19 openings throughout 2022 – comprising 3 Banyan Tree, 1 Banyan Tree Escape, 3 Banyan Tree Veya, 6 Angsana, 3 Dhawa, 2 Garrya and 1 Homm – across 7 countries of the Maldives, Thailand, China, Indonesia, Cambodia, Mozambique and Saudi Arabia – where new flags will be planted in the latter three countries.
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