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Singapore-based Banyan Tree Hotels is marking its Indian debut with a hotel likely to open early next year at the private island of Nediyathuruthu in Alleppey district, Kerala.
The Banyan Tree Group manages or has ownership interest in 30 resorts and hotels, over 60 spas and 80 retail galleries across countries.
Abid Butt, Global Chief Executive Officer, Banyan Tree Hotels & Resorts, said, “India has tremendous growth opportunities. The brand is not new for the discerning traveller and we have been getting outbound travellers from India in our hotels, especially in South East Asia.”
The company’s first property will be run under a management contract. It is also finalising plans to enter Goa.
On the growth strategy, Butt said, “We either grow through management contracts or joint ventures orlaunching a fund for hospitality and tourism products. In India, we may look at a combination of all these strategies.” Asked if the company was looking at acquisitions, he said, “We will look at opportunistic acquisition. But it is unlikely that we will be able to find an available existing property that fits the brand.”
Asked if the company would bid for Taj Mansingh hotel in Delhi, expected to come up for an open auction, he did not comment, stating the company would analyse opportunities as they come.
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