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By Author
Published on January 16, 2024
In a significant move that reflects its expanding global footprint and evolving ethos, Banyan Tree Group, a renowned name in the hospitality industry, has announced its rebranding to Banyan Group. This strategic shift comes as the company has successfully doubled its brand portfolio since 2019, marking a new chapter in its storied history.
Expanding Global PresenceBanyan Group's growth is evident in its impressive expansion across key global locations, including Vietnam, China, Saudi Arabia, Japan, and the United Arab Emirates. With a presence in 22 countries, the Group now manages an expansive portfolio comprising 12 global brands, over 60 spas and galleries, 75 hotels and resorts, and 14 branded residences.
Upcoming Property LaunchesThe Group's pipeline is robust, with 19 new properties and residences scheduled to open in countries like South Korea, Cambodia, China, Japan, Vietnam, and Mexico by 2024. Notable among these is Angsana Tengchong, marking the company’s fifth property in China's Yunnan province, and the inaugural Angsana Siem Reap in Cambodia. Another exciting addition is the Banyan Tree Veya Valle de Guadalupe in Mexico.
A Commitment to Sustainability and InnovationUnderpinning Banyan Group's growth is a deep commitment to sustainability and positive impact. In 2024, the Group aims to align with the United Nations Climate Science-based Targets and is developing a 2030 Sustainability Roadmap. Furthermore, a circularity pilot project is in the works, demonstrating the company's dedication to environmental stewardship.
A Nature-Integrated Development in PhuketAn ambitious project, Laguna Lakelands in Phuket, is set to be a nature-integrated development spanning 110 hectares. This groundbreaking project will feature treetop skywalks, a rainforest park, and six distinct zones, blending luxury hospitality with a deep connection to nature.
Enhancing Guest Experiences with Digital InnovationTo further elevate the guest experience, Banyan Group will launch Beyond, a digital companion, alongside Banyan, an experiential members' programme. These initiatives are designed to enhance the customer journey, offering personalised and engaging experiences.
A Vision for the FutureRen Yung Ho, Banyan Group's Senior Vice-President of Brand & Commercial, reflected on the company's journey: “As Banyan Group celebrates our collective success over the last 30 years, we also recognise that progress can’t stop here. The core beliefs and values that have guided Banyan Group to this milestone will continue to underpin our growth strategy as we remain dedicated to being a force for positive change for both people and the planet.”
The rebranding of Banyan Tree Group to Banyan Group is not merely a change in name but a reflection of the company's evolution and its readiness to embrace the future of hospitality with innovation, sustainability, and a commitment to positive global impact.
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By Nishang Narayan
Published on July 5, 2025
Hyatt Hotels is doubling down on its asset-light strategy with a major move—selling Playa Hotels’ real estate portfolio to Tortuga Resorts for $2 billion. This follows Hyatt’s acquisition of Playa in February for $2.6 billion, including debt. Playa operates 24 luxury all-inclusive resorts across Mexico, Jamaica, and the Dominican Republic.
The sale covers 15 of Playa’s resort assets, effectively reducing Hyatt’s net purchase price for the remaining Playa business to around $555 million. The deal, still pending regulatory nods in Mexico, is expected to close before the end of 2025.
As part of the arrangement, Hyatt and Tortuga will enter into 50-year agreements for these properties, allowing Hyatt to continue managing the resorts. Thirteen of the resorts will operate under Hyatt’s standard management fee structures, with two under separate agreements.
Hyatt CEO Mark Hoplamazian called the move transformational, noting it turns the Playa acquisition into a fully asset-light transaction. "It also ramps up our fee-based earnings," he added. Hyatt now anticipates its asset-light earnings mix could hit at least 90% by 2027.
Analysts view the swift real estate divestment positively, seeing it as a smart way for Hyatt to stay nimble while bolstering returns. Proceeds from this deal will primarily go toward repaying loans taken to finance the Playa buyout.
Novotel Visakhapatnam Varun Beach, a flagship Accor property, has proudly announced that it has been awarded the Green Key Certification, a globally recognised eco-label that underscores excellence in sustainable tourism and hospitality.
Granted by the Foundation for Environmental Education (FEE)—one of the world’s leading environmental education organisations and recognised by the Global Sustainable Tourism Council (GSTC)—the certification marks a significant milestone in the hotel’s ongoing efforts to integrate eco-friendly practices without compromising guest comfort or luxury.
Lakshmi Sridhar, General Manager, Novotel Visakhapatnam Varun Beach, said, “At Novotel Visakhapatnam Varun Beach, we believe that sustainability is not just a responsibility, but a way of life. Being Green Key certified reinforces our commitment to offering eco-conscious experiences that align with global environmental standards.”
The hotel has rolled out various impactful initiatives, from using clean, renewable energy and implementing robust waste management practices to driving water conservation, enhancing energy efficiency, and sustainably sourcing products. These measures are designed to benefit not only the environment but also the local community.
As travel trends increasingly lean towards conscious luxury and responsible tourism, this certification positions Novotel Visakhapatnam Varun Beach as a leader in sustainable hospitality in India.
Indian Hotels Company (IHCL), India’s largest hospitality player, has announced the signing of a new Vivanta property in Anjuna, Goa. This greenfield project marks another step in IHCL’s strategy to grow its presence across key leisure destinations in India.
Strategically located in Anjuna, celebrated for its vibrant culture and beaches, the upcoming Vivanta Anjuna, Goa will feature 110 well-appointed rooms. Guests can look forward to an array of facilities including an all-day diner, a bar, a swimming pool, a fully equipped gym, and modern conference spaces, catering to both leisure and business travellers.
Suma Venkatesh, Executive Vice President - Real Estate & Development, IHCL, shared, “IHCL has been at the forefront of pioneering destinations and has played a defining role in putting Goa on the global tourism map for over five decades. This signing is in line with our strategy to expand IHCL’s presence across segments in key leisure markets. We are delighted to strengthen our partnership with Fiesta Hotels with this new project.”
The hotel is being developed by Fiesta Hotels Pvt. Ltd., led by directors Ravinder Kumar, Manju Vardhan, Raj Vardhan, Harsh Vardhan, Gagan Garg, and Gaurav Garg, who have deep investments in real estate and hospitality. Ravinder Kumar, Director, Fiesta Hotels Pvt. Ltd., said, “We are proud to collaborate with IHCL through the addition of our second hotel in Goa. It stands as a testament to our shared vision to deliver exceptional experiences in one of India’s most cherished destinations.”
Goa continues to attract travellers with its sun-soaked beaches, Portuguese-era architecture, thriving culinary and music scene, and vibrant local communities. With this signing, IHCL’s Goa portfolio grows to 18 hotels, including five under development, underscoring its long-standing commitment to shaping Goa’s tourism landscape.
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