Post Reply
201-220 of 353
Banyan Tree unit acquires stakes in two resort investment and development companies for S$5.5 million
The seller is NSL Resorts International, a subsidiary of Singapore-listed integrated environmental services group NSL
[SINGAPORE] Hospitality group Banyan Tree said on Friday (Mar 14) that the indirect subsidiary of its subsidiary &ndash Laguna Resorts & Hotels Public Company &ndash has bought over stakes in two resort investment and development companies from NSL Resorts International for S$5.5 million.
First, unit Laguna Banyan Tree has acquired an additional 39.2 per cent of Tropical Resorts, a Hong Kong-incorporated corporation in the business of resort investment and development.
This brings Laguna Banyan Tree&rsquo s interest in Tropical Resorts up to 65.1 per cent, from 25.9 per cent. Post-acquisition, Tropical Resorts is now an indirect subsidiary of Banyan Tree.
Second, Laguna Banyan Tree has acquired 13.5 per cent of Donvale, a corporation incorporated in the British Virgin Islands that engages in resort investment and development activities.
NSL Resorts International owned a 39.2 per cent stake in Tropical Resorts and 13.5 per cent stake in Donvale, respectively. The company is a subsidiary of integrated environmental services group NSL, which is listed on the Singapore Exchange.
Banyan Tree believes the share acquisitions will benefit the overall group, as this will lead to an increase of Laguna Resorts & Hotels Public Company&rsquo s offshore resort investments and development portfolio.
The aggregate consideration of S$5.5 million was paid in cash, which was funded by internal resources.
The amount was determined following arm&rsquo s length negotiations between Laguna Banyan Tree and NSL Resorts International, which considered factors such as historical operating performance, existing market conditions and liquidity of Tropical Resorts and Donvale.
In relation to the share acquisitions, Laguna Banyan Tree and NSL Resorts International entered a deed of assignment, where the former was assigned an existing non-interest bearing loan &ndash owed by Donvale to NSL Resorts International &ndash for a nominal consideration of S$1.
The principal amount of the loan is about S$989,000.
The share acquisitions are not expected to result in any material impact to Banyan Tree&rsquo s consolidated net tangible assets per share or consolidated earnings per share for the current financial year.
Banyan Tree reports earnings of $42.1 mil for FY2024, up 33% y-o-y
Banyan Tree Holdings has reported earnings for the FY2024 ended Dec 31, 2024 of $42.1 million, up 33% y-o-y.
For the 2HFY2024, the hotel operator&rsquo s earnings came in 17% y-o-y higher at $35.9 million.
This increase is largely driven by an increase in revenue across all its business segments &mdash Hotels Investments, Fee-based, and Residences, according to the group.
Revenue for FY2024 came in at $380.6 million, up 16% y-o-y from the $327.9 million reported in the same period a year ago.
Other income declined to $30.8 million in 2HFY2024 mainly due to the absence of a one-off $33.5 million gain from the remeasurement of CHMC&rsquo s previously held equity interest and a $9.6 million net gain on the disposal of Angsana House in 2HFY2024.
Core operating profit grew to $69 million in FY2024, while operating profit grew to $103.2 million in the reporting period.
The group saw total costs and expenses increase to $164.4 million in 2HFY2024, in which cost of operating supplies, salaries and related expenses among others increased. Administrative expenses and cost of properties sold decreased.
The group says that overall profit after tax grew mainly due to shareholders associates&rsquo profit compared to share of losses, lower net finance costs and lower income tax expense, partially offset by higher depreciation and amortization expenses.
The group says that these achievements are bolstered by its $328.8 million in residences sales, and 18 new agreements signed in FY2024.
As at Dec 31, 2024, Banyan Group operates 91 hotels and resorts worldwide, with 17 new openings in FY2024.
The group has proposed a first and final one-tier tax exempt cash dividend of 1.3 cents per ordinary share.
https://links.sgx.com/1.0.0/corporate-announcements/1JFNLJ8DNEHBADIR/834225_BTHL_SGXNet_FY2024_PressRelease%20Final.pdf
https://links.sgx.com/1.0.0/corporate-announcements/1JFNLJ8DNEHBADIR/834224_BTHL_SGXNet_FY2024%20Results%20Final.pdf
https://links.sgx.com/1.0.0/corporate-announcements/1JFNLJ8DNEHBADIR/834224_BTHL_SGXNet_FY2024%20Results%20Final.pdf
superstartup ( Date: 24-Feb-2025 12:55) Posted:
|
Bought Banyan. Looking forward to the upcoming result.
https://cnaluxury.channelnewsasia.com/experiences/singles-inferno-netflix-season-4-paradise-banyan-tree-club-and-spa-seoul-256931
Sri Trang group? Banyan tree is in hospitality...
guiren ( Date: 17-Sep-2024 11:58) Posted:
|
This company in Rubber plantation ? Or any company in Rubber plantation ? Please enlighten, Thank you
This company in Rubber plantation ? Or any company in Rubber plantation ? Please enlighten, Thank you
Alignment ( Date: 11-Apr-2024 15:06) Posted:
|
Speaking purely as a traveller, it seems to me the Banyan brand has slipped somewhat.
KGI keeps ' buy' call and 41 cents price target on Banyan Tree, sees steady launch of properties
KGI Securities has kept its " buy" call and 41 cents target price for Banyan Tree Holdings B58 0.00% , citing its recovery from the pandemic and a steady launch pipeline of development properties for sale.
According to KGI, a joint venture between Banyan Tree and Creston Holding achieved presales of some one billion baht of a 17 billion baht phase.
The development, Banyan Tree Residences Creston Hill, is a luxury branded residence near Khao Yai National Park, around 200km from Bangkok.
According to KGI, citing Banyan Tree, this development caters to the growing trend of luxury living amidst nature, appealing to permanent residents and holidaymakers.
It consists of 21 pool villas and 16 condominium buildings, and subsequent phases will include additional villas and condominiums.
In addition, Banyan Tree, which is marking its 30th anniversary, has announced a pipeline of 19 new property openings to be operated under various brands including
Angsana, Cassia, and Dhawa.
These new properties are located at Japan, Saudi Arabia, Vietnam, and South Korea.
For its FY2023 ended Dec 31 2023, Banyan Tree' s revenue increased by 21% y-o-y to $327.9 million and earnings surged from just $767,000 in FY2022 to $31.7 million.
It is paying a final dividend of 1.2 cents.
Thanks to valuation gains, Banyan Tree' s NAV per share has reached 80 cents as at Dec 31 2023, up from 56 cents a year earlier.
On the other hand, net gearing ratio decreased from 46% to 27% in the same period, as it was able to pare down debt with improving operating metrics.
this explains why price is way way below it' s NTA which they try to highlight in their results powerpoint slide
eddyeddy ( Date: 03-Mar-2024 10:19) Posted:
|
Their remunerations are way to high.
Goodwill77 ( Date: 03-Mar-2024 10:07) Posted:
|
the family came a long way to survive the pandemic
to wait and see what happen next
to wait and see what happen next
Take note of th3 below as well:
Company celebration anniversary this year
Company plans for restructuring
vested.
Tks.
Company celebration anniversary this year
Company plans for restructuring
vested.
Tks.
Too family biz .
First dividend in many years. In fact higher than most years even when a dividend was paid. A confident sign of turning the corner. That said, you can get a lot higher yield elsewhere.
Banyan Tree records $31.7 mil FY2023 earnings, declares 1.2 cents dividend
Hotel operator Banyan Tree Holdings B58 0.00% has recorded earnings of $31.7 million for the FY2023 ended Dec 31, 2023, a significant increase over its earnings of $767,000 in FY2022 when the company first reversed into the black after the Covid-19 pandemic.
This comes on the back of a 21% y-o-y increase in revenue to $327.9 million in FY2023, with all operating segments recording better performances as tourism rebounded.
The company recorded a surge in FY2023 operating profit which more than doubled to $90.1 million. Core operating profit also experienced a substantial increase to $51.9 million, contributing to FY2023 earnings.
Other income also more than doubled to $51.1 million during the same period.
For FY2023, total costs and expenses increased by 14% y-o-y to $288.9 million as all three of Banyan Tree&rsquo s key portfolio segments &mdash hotel investments, fee-based and residences &mdash posted growth.
For the full-year period, the company recorded a significant 35% increase in hotel revenue per available room (RevPAR), and record-breaking $377.7 million in sales for its residences segment.
Banyan Tree has declared a final dividend of 1.2 cents for FY2023. No dividends were paid in FY2022 as the company said it had not returned to pre-pandemic operating performance levels.
&ldquo This performance in FY23 is not only a financial success, but also stands as a testament to our resilience post-pandemic,&rdquo says CEO Eddy See. &ldquo We' ve not only navigated through the storm but emerged stronger and more dynamic, evidenced by the expansion of our multi-brand portfolio and the positive outlook going forward.&rdquo
In 2023, Banyan Tree achieved a milestone with 13 new hotels and resorts, totalling 75 properties. Notable additions include its hotel in the United Arab Emirates with Banyan Tree Dubai, the debut of the first Folio property in Japan and the entrance of Garrya in Indonesia.
The company says the re-acquisition of its China management arm will also enhance its position in the strategic country.
Banyan Tree says the launch of its umbrella corporate brand Banyan Group at the beginning of 2024 signals a strategic shift for substantial growth, doubling of its brand portfolio over the last three years and with more than 120 properties in its future pipeline.
Banyan Tree to go separate ways with China Vanke in JVs to pay 480 million yuan for buyout
BANYAN Tree : B58 0% will go separate ways with the subsidiaries of China&rsquo s second-largest developer by sales, China Vanke, with both parties buying out each other&rsquo s stakes in their joint ventures (JVs).
In a filing to the Singapore Exchange on Friday (Dec 8), Banyan Tree made the announcement that would involve Banyan Tree acquiring the shares of two JVs for 480 million yuan (S$90.2 million) from China Vanke units and selling its shares in another JV for 30 million yuan.
Banyan Tree will pay 425 million yuan out of the full sum in cash using internal resources, while the remaining amount is to be offset against the proceeds from its sale of stakes in the third JV, as well as receivables.
The transactions, said Banyan Tree, will enable it to streamline strategic decision-making in response to market dynamics and enhance operational efficiency in day-to-day operations.
&ldquo The divestment of the hotel ownership component is in line with the company&rsquo s asset-light strategy,&rdquo it added.
The hotel management player&rsquo s subsidiaries Banyan Tree Services and Banyan Tree China on Friday entered into a term sheet to acquire all of the stakes owned by two China Vanke units &ndash Tritonia Company and China Voyage &ndash in Banyan Tree Services (China) and Banyan Tree Hotel Management (China).
Banyan Tree Services (China) and Banyan Tree Hotel Management (China) are JVs of Banyan Tree and the two China Vanke units, providing hotel management and other ancillary services in China.
Meanwhile, Tritonia will acquire all of Banyan Tree China&rsquo s 5.2 per cent interest in Banyan Tree Assets (China) Holdings &ndash a JV entity that owns hotels in China.
The existing shareholders of Banyan Tree Services (China) are Banyan Tree Assets (China) Holdings (40 per cent), Banyan Tree Businesses (40 per cent) and China Voyage (20 per cent).
The existing shareholders of Banyan Tree Hotel Management (China) are Banyan Tree Services (40 per cent), Banyan Tree Assets (China) Holdings (40 per cent) and China Voyage (20 per cent).
Also, Banyan Tree Assets (China) Holdings will acquire all of the equity in property management services provider Chengdu Laguna Property Services from Banyan Tree Hotels Management (Beijing).
The stakes in Banyan Tree Hotels Management (Tianjin) will also be bought out by Banyan Tree entities.
Following these moves, the China Vanke subsidiaries and Banyan Tree will cease to be JV partners.
KGI reiterates ' buy' call on Banyan Tree, little impact from slow China market recovery
KGI Securities has reiterated its ' buy' call and 41.5 cents target price on luxury resorts operator Banyan Tree Holdings B58 0.00% , on the premise that tourism recovery is ongoing.
For its 1HFY2023 ended June, the company reported core operating profit of $18.7 million, up from $11.1 million recorded in the year-earlier 1HFY2022. Revenue in the same period was up 21% y-o-y to $143.7 million, led by higher RevPar of 64%.
In a recent development, Thailand, in a bid to draw more visitors to help offset weakness in its export sectors, will temporarily waive tourist visa requirements for visitors from China and Kazakhstan from Sept 25 to Feb 29 next year.
KGI notes that the business sector has welcomed the government&rsquo s new policy, and airlines are preparing to increase flights and add more capacity to accommodate the expected increase in tourists.
" The tourism industry is optimistic that the visa-free scheme will be a success and boost tourism spending in Thailand. This would also benefit businesses such as Banyan Tree, which has multiple properties in the country," states KGI.
Separately, Banyan Tree, Ennismore, and Dubai Holding have partnered to open a new Banyan Tree hotel in Dubai, replacing the existing Caesars Palace Dubai on Bluewaters Island. This new hotel, with 179 rooms, will be run jointly by Banyan Tree and Ennismore and will open in November.
According to KGI, this is the first of many hotel and brand development projects that Accor (a strategic partner of Banyan Tree) and Dubai Holding plan to collaborate on, to further develop and grow the hospitality sector in Dubai.
Company chairman Ho Kwon Ping has indicated that while China' s mass market is taking longer to recover, the impact is relatively small on his company given its premium positioning.
" He is also confident that the Chinese real estate market will not collapse, as the banking system is strong. Additionally, he mentioned that Banyan Tree&rsquo s exposure to the Chinese real estate bubble is not large due to the sale of a few hotels in China before the bubble," adds KGI.
Banyan Tree H1 earnings nearly double on travel recovery
RESORT operator Banyan Tree Group : B58 -1.1% on Thursday (Aug 10) reported a net profit of S$981,000 for the six months ended Jun 30, 2023, up 91 per cent from the S$514,000 in the corresponding period last year.
H1 revenue rose 21 per cent to S$143.7 million &ndash from S$118.6 million in the corresponding period a year ago &ndash fuelled by &ldquo better&rdquo performance in its hotel investments and fee-based segments, said the group in a bourse filing.
The hotel investments segment grew 57 per cent year on year to S$95.3 million, from S$60.8 million a year ago, as revenue from hotels in Thailand almost doubled after the country lifted its pandemic travel restrictions.
Occupancy in Thailand surged to 71 per cent in the half-year, from 46 per cent in H1 FY2022. Revenue per available room in the country also increased by 2.2 times in the same period.
Over in the fee-based segment, revenue grew 30 per cent year on year to S$27.7 million, from S$21.3 million a year ago. This was primarily due to higher management fees from the group&rsquo s managed hotels in Asia, which have gradually opened up to international tourism since the second quarter of 2022, said the group.
Meanwhile, revenue from Banyan Tree&rsquo s property sales segment plunged by 43 per cent to S$20.8 million in H1, from S$36.6 million the previous year, which included the recognition of the remaining units of Angsana Beachfront Residences in Indonesia at S$18.8 million.
Earnings per share stood at 0.11 cents, up from 0.06 cents in the year-ago period.
&ldquo (Our) hotels have shown a good recovery from the impact of the Covid-19 pandemic, surpassing all pre-covid 2019 metrics across various regional markets,&rdquo said the group.
For the rest of 2023, Banyan Tree plans to open three new properties in Zhuhai, China Yogyakarta, Indonesia and Koh Samui, Thailand.