Banyan Tree increases GC resort site
Singapore-based luxury resort operator Banyan Tree Group has purchased the Beach Lodge on the Esplanade in Surfers Paradise. The property adjoins the Bahia Apartment tower 971m² site the group acquired last May for $11.5 million.
The addition of the 24-apartment Beach Lodge has given Banyan Tree a 4413m² development site.
Banyan Tree, after it acquired the Bahia Apartment site, said it planned a luxury hotel under the group’s latest brand, Cassia plus serviced apartments focusing on the Chinese tourist market.
The Cassia brand would also be used for Banyan Tree’s Brisbane project.
The Cassia brand is part of a strategic global expansion plan for Banyan Tree Group which plans to grow to 66 hotels and resorts, 117 spas and 115 galleries across 33 countries by 2017.
