Singapore-based multinational hospitality giant, Banyan Tree Holdings Limited, commonly known as the Banyan Group, has recently unveiled its plans to launch a luxurious hotel and resort project in Cambodia during the year 2024, alongside a string of other international property investments.
This new venture, titled ‘Angsana Siem Reap’ and operating under the renowned ‘Angsana’ brand, marks Banyan Tree Holdings’ exciting foray into Cambodia’s burgeoning resort market. The resort is poised to cater to an international audience visiting the UNESCO World Heritage Site, the Angkor Wat Archaeological Park, and the bustling city of Siem Reap.
Anticipated to open its doors in the third quarter of 2024, Angsana Siem Reap will be strategically positioned in downtown Siem Reap, ensuring convenient access to the city’s myriad attractions. The Angsana brand is celebrated for crafting upscale hotels that seamlessly cater to families and business travelers, offering state-of-the-art amenities designed for meetings, incentives, conferences, and exhibitions (MICE) tourism.
Banyan Tree Holdings’ expansion in 2024 encompasses the establishment of 19 new properties globally, which includes the highly anticipated ‘Angsana Siem Reap’ in Cambodia. Additionally, the company will initiate 18 other ventures across various international locations, including China, Japan, South Korea, Vietnam, and Mexico. This significant expansion underscores the company’s commitment to meeting the evolving preferences and needs of travelers in dynamic markets worldwide.
Eddy See, the President of Banyan Group, articulates the firm’s strategic approach, stating, “With a keen eye on expansion, we are seizing new opportunities with our distinct brands, designed to meet evolving traveler preferences and needs in these dynamic markets.”
Founded in 1994 by the Hong Kong-born couple, Ho Kwon Ping and Claire Chiang, the Banyan Group took its first steps with the development of the ‘Banyan Tree’ brand resort in Phuket, Thailand. Following this, it embarked on a vigorous expansion journey across Thailand and beyond, introducing a diverse portfolio of 12 distinct hospitality and residential real estate brands. Today, the Banyan Group boasts a global portfolio that includes approximately 75 hotels and resorts, 60 spas and galleries, and 14 residences across 20 countries in Asia, America, Africa, and the Middle East.
The firm’s robust growth in hotel and residential revenues in 2023, particularly in the Chinese domestic and international tourism sectors, has been a pivotal factor behind its ambitious expansion plans for the current year. A recent strategic buyback agreement with China Vanke, one of China’s premier residential developers, has further solidified the Group’s position as a key player in the hospitality industry across the region.
Banyan Tree Holdings places a strong emphasis on sustainability and responsible property management. In 2024, the company intends to align itself with the United Nations (UN) Climate Science-based Targets, aiming to develop a comprehensive ‘sustainability roadmap’ for 2030 that addresses both environmental and human capital development. In line with UN targets, the firm plans to pioneer a circularity pilot project, underscoring its commitment to advancing the hospitality industry’s transition toward regenerative practices in the years ahead.
Banyan Tree Holdings’ demonstrated commitment to environmental and social considerations remains a fundamental pillar of the Group’s enduring success and vision for a more sustainable and responsible global hospitality industry. As the company continues to expand its global footprint, it remains steadfast in upholding its values of luxury, sustainability, and excellence.
Source: Khmer Times