Singapore, September 2006 – Singapore Main-Board
listed Banyan Tree Holdings Limited (“Banyan Tree” or
the “Group”), a leading manager and developer of premium
resorts, hotels and spas in the Asia Pacific, recently announced
that it has secured new agreements to manage two Banyan Tree Resorts
and one Angsana Resort in India, and manage three new spas in Ireland,
China and India respectively.
Mr Ho KwonPing, Executive Chairman of Banyan Tree
said, “These are exciting times for the Group as we continue
with our growth expansion plans. We will continue to source out
niche and exciting tourist destination markets to increase our presence
in the world. These new agreements secured recently will increase
our current pipeline of [21] hotel and [29] spa projects over the
next three years.
Banyan Tree and Angsana Resorts in Karnataka, Chikmagalur,
India
The hotel management agreement with Brigade Enterprises Pvt. Ltd.
will see the Group establishing two resorts – a Banyan Tree
Resort and Spa and an Angsana Resort and Spa, in Karnataka, a scenic,
hilly location some four hours by car from Bangalore.
Banyan Tree Resort and Spa will be positioned as India’s
destination spa resort and will have approximately 25 rooms. Angsana
Resort and Spa will have approximately 50 rooms. Both resorts will
cater to the growing demand for destination spas and are scheduled
for completion in 2008.
Banyan Tree Resort & Spa in Kerala, India
The Group entered into a joint venture with the Kapico Group Holding
Co. K.S.C.C. to operate a Banyan Tree Resort and Spa in Kerala,
India. 40 minutes by car and boat from Kochi, Banyan Tree Resort
& Spa will be located on Vembanad Lake, near Poothhotta and
Perumbalam. The project will comprise of about 100 water villas
and luxury houseboats plus resort residential development. The Group
will design the whole project. There is a put and call option (exercisable
only at the grand opening of the resort) for the Group to invest
15% into the project. The Group has an additional option to invest
a further 15% within 6 months of the grand opening. Completion of
the resort is targeted for 2009.
Angsana Spa at Bunratty Castle Hotel in Ireland
Under the spa management agreement with the Blarney Group, Banyan
Tree will manage an Angsana Spa at the 80-room Bunratty Castle Hotel,
approximately 12 km from Shannon Airport, in County Clare, Ireland.
Currently under renovation, the Bunratty Castle Hotel is nestled
in the heart of Bunratty Village on a hillside near the 15th century
Bunratty Castle, which is one of the finest in Ireland and Britain.
The Spa will be the second Angsana Spa in Ireland, and is scheduled
to open in October 2006.
Angsana Spa in Gurgaon, India
The Group signed a spa management agreement with Vipul Limited to
establish an Angsana Spa in Gurgaon, located some 40 minutes by
car from the capital city of New Delhi. Gurgaon is a large, fast
growing city and a hub for large industries and multinational companies.
Located on one hectare of an up-market residential development,
the premier city spa will cater to the city of Gurgaon and is expected
to open in 2008.
Angsana Spa at Royal Pines Resorts, Gold Coast,
Australia
Located at the heart of the Gold Coast and situated on more than
200 hectares of magnificently landscaped gardens, the spa will cover
two floors and have 17 treatment rooms. The Spa is scheduled to
open by 2007.
Angsana Spa at Sofitel Fizi Tianmu Lake, Jiangsu,
China
Owned by Liyang Fizi Development Co., Ltd., the upmarket 400 bedroom
Sofitel Fizi Tianmu Lake Hotel will be built at Liyang, on the banks
of Lake Tianmu. The Group’s new Angsana Spa in Jiangsu will
be a key amenity and will have 15 rooms. The Spa is scheduled to
open by 2007.
These new management agreements are not expected to
have any material financial impact on the Group’s earnings
per share and its net tangible assets for 2006.
About Banyan Tree Holdings Limited
Banyan Tree Holdings Limited (“Banyan Tree” or the “Company”)
is a leading manager and developer of premium resorts, hotels and
spas in the Asia Pacific, with [19] resorts and hotels, [50] spas,
[54] galleries and two golf courses. The Company manages and/or
have ownership interests in niche resorts and hotels. The resorts
each typically has between 50 and 100 rooms and commands room rates
at the high end of each property’s particular market.
Banyan Tree has six operating business segments: hotel
investment, hotel management, spa operations, gallery operations,
property sales, design fees and others (design and project management,
golf course operations and other businesses).
The Company’s primary business is the management,
development and ownership of resorts and hotels. This is centred
around two award-winning brands: Banyan Tree and Angsana, of which
the latter includes the Colours of Angsana product line. Banyan
Tree also operates the leading integrated resort in Thailand –
Laguna Phuket, through the Company’s subsidiary, Laguna Resorts
& Hotels Public Company Limited.
As a leading operator of spas in the Asia Pacific,
Banyan Tree’s spas are one of the key features in their resorts
and hotels. Banyan Tree galleries, which complement their resorts,
hotels and spas, help to extend the reach and scope of their brands.
Since the launch of the first Banyan Tree resort,
Banyan Tree Phuket, in 1994, Banyan Tree has received over 250 awards
and accolades for the resorts, hotels and spas that the Group manages.
The Group has also received recognition for its commitment to environmental
protection and emphasis on corporate social responsibility.
$50-
