Singapore Main-Board listed Banyan Tree Holdings Limited ("Banyan Tree" or the "Group"), a leading developer, designer and operator of top-tier hotels, resorts, spas and galleries worldwide, has signed a management contract with Jabal Resorts LLC (a nominee of Kapico Group Holding Co.) for the development of two of its branded resorts within one of the largest integrated resort development in Sifah, Oman.
This project will be Banyan Tree's first development in Oman, a country famous for its wadis, deserts, beaches and dramatic mountainous landscapes. It will see the expansion of Banyan Tree's portfolio of properties in the Middle East to more than 10 projects. "We are very excited about this project. It will be an opportunity for us to introduce both Banyan Tree and Angsana brands into a single integrated resort in Oman where we would have the opportunity to provide our guests with a much richer experience of the beauty that Oman has to offer," said Executive Chairman, Mr Ho Kwon Ping.
Located within the region's first upscale integrated resort in Oman, the Banyan Tree and Angsana resorts are positioned as the anchor properties in a development that comprises more than five hotels, over 450 villas and 500 apartments for sale, a marina town, retail facilities and an 18-hole golf course. The integrated resort spans an area of more than 650 hectares and will be the largest lifestyle and entertainment facility in the region. Strongly influenced by traditional Omani architecture, both Banyan Tree and Angsana resort properties will be designed by Banyan Tree's in-house design division Architrave Design and Planning, and will comprise more than 210 villas and suites, multiple F&B outlets, dedicated spa facilities and more than 120 residential units for sale.
These new developments are not expected to have any material financial impact on the Group's earnings and its net tangible assets for 2007.
About Banyan Tree Hotels & Resorts
Banyan Tree offers an intimate retreat experience featuring its own signature blend of romance and Asian sensuality. The philosophy behind the hotels, resorts, spas and galleries is based on providing a place for rejuvenation of the body, mind and soul - a Sanctuary for the Senses.
Banyan Tree resorts are found in Phuket, Thailand (1994), Maldives Vabbinfaru (1995), Bintan, Indonesia (1995), Bangkok, Thailand (2002), Seychelles (2002), Ringha, China (2005), Lijiang, China (2006), Bahrain (2007) and Maldives Madivaru (2007). Flagship Banyan Tree Phuket was the first to introduce a tropical garden spa concept.
About Angsana Resorts & Spas
Launched in 2000, Angsana is the sister brand of Banyan Tree, inspired by the exotic Angsana Tree noted for its crown of golden flowers. Angsana resorts are designed as contemporary, chic and vibrant retreats to live life spontaneously and sense the moment.
Angsana resorts are found in Bintan, Indonesia (2000), Great Barrier Reef, Australia (2000), Bangalore, India (2001), Maldives Ihuru (2001), Maldives Velavaru (2006) and Morocco (2007).
In 2003, Colours of Angsana joined the Angsana portfolio. This boutique hotel collection appeals to the soft adventurer and cultural tourism sector. The current hotels are Gyalthang Dzong (Shangri-La, China), Deer Park Hotel (Giritale, Sri Lanka) and Maison Souvannaphoum (Luang Prabang, Laos).
To date, the Banyan Tree Group manages and/or has ownership interests in 23 resorts and hotels, 64 spas and 66 retail galleries and two golf courses.