HOMM Bliss Southbeach Patong Phuket , Thailand
LAUNCH OF FIVE NEW BRANDS CREATES POTENTIAL FOR MORE CONVERSIONS , GROWTH IN SECOND-TIER LOCATIONS IN ASIA .
by KATHAKALI NANDI
TREE
Asia . Last year , we planted new flags in the Middle East , Europe and Africa . We are growing selectively and strategically .”
The cost of developing the new projects is always balanced with the potential revenue to ensure each investment has a significant return . “ The development costs depend on the locations and destinations , the number of keys , the infrastructure and resources available , etc .” for the hotel industry , it has increased conversion opportunities in resort destinations .
“ Conversion opportunities were strongly considered during development process , as this is the most sustainable method for expanding Banyan Tree Group ’ s portfolio , and in this time also presents the most opportunities . Our HOMM brand , for example , is comprised entirely of conversion opportunities , appeal to draw travelers to these destinations and we continue to build on this same strategy in the realm of leisure travel ,” Ho says . “ Additionally , even though COVID has dampened travel volume , we are confident the demand for leisure and lifestyle travel endures and as such , the demand trajectory for secondary or emerging locations .”
The group , which has a firm foothold in Asia , is noticing a lot of traction in Thailand , Asia and Japan . “ We are doubling down on markets near our existing operating footprint . We will obviously continue expanding as well throughout Asia , which is our stronghold ,” Ho says .
Banyan Tree is planning around 20 openings in the next 12 to18 months in seven countries , of which a third will be under the Banyan Tree brand and its extensions Veya and Escape , another third under its existing brand Angsana and a third of the newer brands . “ Of these openings , three will be in frontier countries where we have not yet opened ,” she adds . “ We now operate across 23 countries and are proudly global while strongly rooted in
WE ARE DOUBLING DOWN ON MARKETS NEAR OUR EXISTING OPERATING FOOTPRINT . WE WILL OBVIOUSLY CONTINUE EXPANDING AS WELL THROUGHOUT ASIA , WHICH IS OUR STRONGHOLD .
CONVERSION OPPORTUNITIES Since its inception in 1994 , Banyan Tree has emphasized sustainability and seeks to create long-term value for all its stakeholders and destinations . Although the pandemic brought its own share of challenges
– RENYUNG HO
with HOMM Bliss Southbeach Patong as our first location in Phuket , Thailand which opened in December 2021 ,” Ho explains .
Some of their upcoming locations , however , will be new builds , with consideration of the local environment their
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