Middle East deemed fast growth market for Banyan Tree Hotels
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Banyan Tree Hotels and Resorts has chosen the Middle East as its fastest growth feeder market.
This was reaffirmed with statistics as revenue from the Middle East market increased by more than 50% in 2012. This was ahead of Banyan Tree’s top market – China.
The Middle East is the fourth largest market for Banyan Tree Hotels & Resorts and its sister brand, Angsana Hotels & Resorts with seven percent of total market share in 2012.
Abid Butt, CEO, Banyan Tree Hotels and Resorts said: “We are 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%. We hope that the new properties – Banyan Tree Lang Co, Vietnam and Banyan Tree Kerala, India will interest the Middle East market further. “
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. The Group is continually seeking hotel management opportunities that fit with both the Angsana and Banyan Tree brand attributes.
The growth in the Middle East is indicative of overall company performance with Banyan Tree Holdings, the parent company, reporting a three percent increase in total revenue and a 51% increase in operating profit in 2012.