Cassia new brand for Banyan Tree
The award-winning hospitality group, Banyan Tree, has announced the launch of a new brand, Cassia, in a completely new space for the group and its new build hotel on the Gold Coast will be part of the brand.
Having identified a niche in the market, Banyan Tree brings its expertise in design and innovation to create an exciting and bold new proposition in the serviced apartment sector bringing the company’s portfolio to three brands. Cassia has been created to bring together investment opportunities for the growing middle-class looking for affordable holiday homes as well as the opportunity to develop an innovative hotel product in the serviced apartment segment.
Cassia merges three of the group’s strengths, hospitality, design and real estate, to set the stage for the hotel residences of the future,” says Ho Kwon Ping, executive chairman, Banyan Tree Group. “The extended stay segment has been overlooked in recent years so we took the opportunity to innovate and create a hospitality product that meets the demands and needs of today’s travellers.”
Five projects are already in development in Phuket, Thailand; Bintan, Indonesia; Beruwala, Sri Lanka; Gold Coast, Australia; and Lijiang, China. A further seven projects are being planned in Brisbane, New York, Japan, Seychelles, Chiang Mai, Bangkok and Lang Co, Vietnam.
Cassia is part of a strategic global expansion for Banyan Tree Group which plans to grow to 66 hotels and resorts, 117 spas and 115 galleries across 33 countries by 2017.
Ho Kwon Ping, founder of -Banyan Tree Hotels and Resorts, will visit Brisbane and the Gold Coast to look for sites for the brand, which seeks to re-establish itself in Australia.
Mr Ho has just bought a site on the Gold Coast for a $US100m 40-level hotel and serviced apartment tower of up to 150 keys, which Banyan Tree will fund via bank financing and equity.
