Banyan Tree expects 7% of luxury hotels revenues to come from Middle East
Banyan Tree Hotels & Resorts, who specialise in providing luxury holidays for travellers, have announced that they expect approximately five to seven percent of their total global revenues to come from the Middle East over the next two years.
The Singapore-based luxury hotels and resorts operator are part of the Banyan Tree Holdings group and are expecting to double their current number of six luxury hotels in the Middle East region within the next two years.
Group Managing Director of Banyan Tree Holdings, Ariel Vera commented:
"Once we open the projects, which we currently have in the pipeline in the Middle East, every year we would look at an estimated management fee of S$5 million (Dh13.34m) coming out of this region. With regards to revenues, we are expecting about five to seven per cent of our total global revenues to come out of this region in the next two years."
Banyan Tree Holdings also have the Angsana brand in their portfolio and with the both brands, the company is looking at a turnover of at least S$300 million for 2009, with numbers expected to be even higher for 2010. Current projects in Banyan Tree's portfolio include management contracts for two Oman hotels and two Egypt hotels; a Ras Al Khaimah property; and resort in Abu Dhabi - all designed to provide luxury holidays for travellers from all over the globe.
Vera commented on the potential of adding Dubai hotels to their portfolio, saying:
"We have no active project in Dubai as of now. There were several projects we signed in Dubai but unfortunately some of them got cancelled because of economic and financial issues."
"Overall, we remain committed to business prospects in the Middle East and are progressing on several projects there in our pipeline. We will continue to work with owners who place a high importance on the quality of the service and product and in the sanctity of contractual obligations, and believe that the growing strength of the brand will ultimately benefit the hotel they own."
Talk to a specialist
Call 020 7644 1770 to speak with our award-winning travel consultants.
Opening hours 09:00 - 21:00 GMT
Popular Holidays Browse all
Relax and unwind at this stunning resort without having to dig deep in your pocket.
- A fantastic all-inclusive programme with great the entertainment options including kids and teen club
- Luxury and comfortable accommodations with a spectacular views of the crystal blue Arabian Gulf
- Enjoy the secluded, glorious location on the beautiful, tranquil and pristine Marjan Island
Spend wonderful days exploring India's most iconic landmarks, diving deep into a world of wonder with a wealth of spectacular sights to discover
- Includes entrance fees at all monuments as per the itinerary
- Enjoy a traditional rickshaw ride through Old Delhi, see the majestic Taj Mahal, experience traditional Rajasthani family dinner in vibrant Jaipur and much more
- An English-Speaking local Guide
Stay close to all the action in a fabulous resort that's part of a beautiful ecological reserve and sits right next to Xcaret, Cancun's number one theme park.
- This resort is a fantastic choice for an exciting family holiday that you will never forget,why not make it extra special by upgrading to visit the amazing Xcaret Park
- Limitless all-inclusive fun and thrills for everyone in a beautiful eco-reserve facing a glorious beach
- Enjoy access to 11 Restaurants and 10 Bars catering to every taste and occasion & access to 5 glorious Swimming Pools
Combine colourful and vibrant Havana with a relaxing summer 2017 beach holiday in an award winning resort on the shores of Varadero
- Book early and benifit from huge early bird summer discounts!
- Discover Havana by day visit the historial sites and by night you can listen to live music or dance to the Salsa beat
- Enjoy complimentary pool-based dive courses on offer for beginners and experience one free daily dive at the Royalton Hicacos
- Three freshwater pools including four whirlpools and signature swim-up pool bar at Royalton Hicacos ensure an unforgettable holiday
One of the most sought-after locations in the magical city of Dubai is the artificial island of Jumeirah. Enjoy the...
Get the best of Havana and Varadero with this fabulous combination of city and beach in two of Cuba's finest hotels, the...
Varadero is a showpiece of Cuba's natural beauty; stunning white beaches, turquoise waters and clusters of lofty palm...
Situated just minutes from the Bugibba promenade, Sunflower hotel enjoys an excellent location in the popular area of...
The Gloria Hotel & Apartments is a stunning suite and apartment hotel that is ideally located in the heart of Dubai. It...
Fairmont Ajman is surrounded by stunning white sandy beaches and year round sunshine, just 30 minutes from the bustling...