Hotels

Banyan Tree expects 7pc of total revenue from ME

Singapore-based Banyan Tree Hotels & Resorts, part of Banyan Tree Holdings, hopes for five to seven per cent of its total revenue to be generated from the Middle East in the next two years, said Ariel Vera, Group Managing Director of Banyan Tree Holdings. The company also expects to double its portfolio to 12 hotels in the coming years.


"Once we open the projects, which we currently have in the pipeline for the Middle East, every year we would look at an estimated management fee of S$5 million (Dh13.34m) coming out of this region," Vera stated. 


The company, listed on Singapore Stock Exchange, has two brands in its portfolio, Angsana and Banyan Tree, and is hoping for a turnover of more than S$300m for the full-year 2009, Vera said, adding that 2010 numbers would be higher than 2009.


Meanwhile, The Banyan Tree’s current projects include those in Ras Al Khaimah, Abu Dhabi in the UAE and two each in Oman and Egypt. In this regard, The Banyan Tree Al Wadi in Ras Al Khaimah, will open on April 17 while the Angsana Eastern Mangrove in Abu Dhabi, is due to be launched in 2011. Projects in  Oman and Egypt will open in 2012.


The Banyan Tree has been in the limelight recently because of  the fall-out with the Banyan Tree Al Areen Resort in Bahrain, owned by Al Areen Holding Company. The company terminated its contract with Al Areen earlier this week owing to a breach of the agreement.


Talking about its differences with Al Areen and the company‘s commitment to the Middle East, Vera said that "overall, we remain committed to business prospects in the Middle East and are progressing on several projects there in our pipeline.”

More Hotels
Jumeirah Beach Hotel, Dubai, will be closed for renovation in summer 2018
Hilton’s ‘bleisure’ travel option – a new way to work and play
Family friendly hotels most popular for long weekends
Latest Travel News
Jumeirah Beach Hotel, Dubai, will be clo...
Etihad Airways National Day takeover of ...
World’s longest urban zipline launches i...
Featured Sights To See
Art and History Museum

Art and History Museum

Geneva, Switzerland

This museum is larger than any other museum in Geneva. The Art and History Museum chronicles and catalogues a comprehensive study of western culture, from ancient to modern times, including current issues. It contains in its collection over one million pieces, classified into three separate wings of the buildings. The Archeology wing houses relics from ancient Egyptian, Greek and Roman civilizatio...

Esplanadi Park

Esplanadi Park

Helsinki, Finland

Esplanadi Park is located right in the center of Helsinki with lush green lawns that are crowded by both locals and tourists in the summer months. The park also offers a picnic place for people to get together and spend the day out with friends and family.                     ...

Millennium Park

Millennium Park

Chicago, United States

Millennium Park is one of Chicago's newest attractions.  The 24.5 acre park was built between 1997 and 2004 over what had been a rail yard.  Today it receives more than 4,000,000 guests annually and is a treasured part of Chicago.  Many consider it the most important municipal project since the Colombian Exhibition ended in 1893. The park has several unique features, and is hom...

Casablanca Twin Center

Casablanca Twin Center

Casablanca, Morocco

Casablanca Twin Center is a bold piece of architecture that represents a modern and enterprising Casablanca. Reaching a height of 100m, this building is a vibrant commercial center. The tower houses offices, dwellings and commercial establishments, the latter on the first five floors. Terraces, bars and restaurants occupy the top floor. Three basement car parks provide ample parking. Address: B...