Banyan Tree plans Asian growth

Banyan Tree Jiuzhaigou is already open in China in Jiuzhaigou, designated by UNESCO as a World Heritage Site. Photo credit: Banyan Tree

Banyan Tree Group has signed agreements to open 26 hotels across its four brands, with most of the projects set for China.

The projects are expected to open over the next three years, with 17 set for Chinese provinces, including Guizhou, Hebei and Zhejiang. The rest of the projects are based in Asean, the Oceania region and in Europe.

These hotels are in addition to seven new properties slated to open in 2019. Banyan Tree currently has 48 hotels open.

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The agreements exclude projects under negotiation and introduced by its new partners, France-based AccorHotels and Chinese property developer Vanke. Both became minority investors of Banyan Tree Holdings as well as strategic partners last year. About a dozen projects initiated through the partnerships are in active negotiations.