Banyan eyes ME expansion as RAK revenue doubles

Banyan Tree Hotels and Resorts is eyeing further expansion in the Middle East as revenues from the region increased by more than 50% in 2012, faster than all its feeder markets including Banyan Tree’s top market, China.

The Middle East is currently the fourth largest market for Banyan Tree Hotels & Resorts and its sister brand, Angsana Hotels & Resorts with 7% of total market share in 2012. The company currently has two resorts in Ras Al Khaimah plus properties in the Indian Ocean and Thailand.

Abid Butt, CEO, Banyan Tree Hotels and Resorts said: “We are really encouraged by the increase in business from the Middle East and hope to build on this momentum. Total room nights grew by 65% year-on-year and revenue increased by 53%.

“I believe this is because the Banyan Tree experience resonates well with our guests from the Middle East as it offers the right level of privacy and serenity in locations that inspire and delight.”

Banyan Tree Hotels and Resorts will expand its presence in the Middle East with the launch of Angsana Sifah in Oman in 2015. The resort will offer 200 suites and an Angsana Spa and will be part of a development that includes villas, apartments, an 18-hole golf course and a marina.

Parent company, Banyan Tree Holdings, reports a 3% increase in total revenue and a 51% increase in operating profit in 2012 which it says is largely due to successful hotel investments and an improved performance for fee-based segments including Banyan Tree Spa and Banyan Tree Gallery.