Hotels

Banyan Tree contemplates setting up of hospitality fund

Banyan Tree Hotels & Resorts is looking to set up a Middle East hospitality fund worth about $300 million (Dh1.1 billion), said Ho Kwon Ping, Executive Chairman, Banyan Tree Holdings. Currently, the company exists in the Middle East thanks to the presence of two of its brands -- Banyan Tree Hotels & Resorts and Angsana.
"If we were to invest in the Middle East, it would be by the way of a development fund. This could happen over a time frame of two to four years. Lets us say that in the next two years, we will start talking to potential investors and then in four years' time we would have a established a development fund for the Middle East,” added Ping.
He pointed out that Middle East remains an attractive market for the company in the long run. Meanwhile, a similar fund is being set up in China. “We are currently in the midst of raising a similar fund for China. When raised, we would use it to invest in China projects,” explained Ping.  

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