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Consumer Services

Banyan Tree Holdings Ltd.

Company Background

Banyan Tree Holdings owns, develops and manages through its subsidiaries resorts, spas, hotels and golf courses in over 10 countries in Asia, the Middle East and Africa. Banyan Tree is run by Ho Kwon Ping, who is the executive chairman and founder of the group. Born in Hong Kong, he was a journalist prior to entering the hotel industry. He is the largest shareholder of Banyan Tree along with his wife, Claire Chiang.

 

The company was launched in 1994 when it opened its first resort under the flagship Banyan Tree brand in Phuket, Thailand. It also develops residential properties and manages their retail sales. Although a large percentage of Banyan Tree's assets are in Thailand, the company is in the process of diversifying its geography, particularly in China and India. Its resorts have been attracting a growing number of Chinese tourists. The company is also venturing into the serviced apartment business as a core strategy for this expansion. In June 2014, it announced the launch of Cassia, which will focus on developing serviced apartments in Thailand, Sri Lanka, Australia, Japan, the U.S. and several other countries.

Business Summary

Banyan Tree Holdings Ltd. engages in managing and developing premium resorts, hotels and spas. It operates through the following segments: Hotel Investments, Property Sales, Fee-based, and Head Office. The Hotel Investment segment engages in hotel and restaurant operations. The Property Sales segment includes hotel residences, property sales, and development project sales. The Fee-based segment comprises the management and operation of hotels, resorts, clubs, funds, spas, galleries, and other related services. The Head Office segment relates to expenses incurred by corporate office. Banyan Tree Holdings was founded by Kwon Ping Ho in 1984 and is headquartered in Singapore.

Financial Highlights

Dec 2020 SGDUSD
Revenue157.83M114.42M
Gross Profit29.68M21.52M
Operating income-23.87M-17.30M
Income before tax-87.88M-63.71M
Net income-95.83M-69.47M
EBITDA2.46M1.78M
Diluted EPS-0.11-0.08
Dividends Per Share----
Total Assets1,578.71M1,194.50M
Total liabilities951.11M719.63M
Total equity566.23M428.43M
Operating cash flow-18.63M-13.50M
Currency in SGDCurrency in USD

Historical Data

 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 309.56M 317.51M 329.04M 346.95M 157.83M
Gross Profit 131.14M 136.78M 145.69M 152.18M 29.68M
Operating income -2.84M 17.90M 16.30M 35.62M -23.87M
Income before tax 0.67M 22.65M 24.96M 13.47M -87.88M
Net income -16.19M 12.92M 13.47M 0.65M -95.83M
EBITDA 22.21M 43.01M 38.67M 59.33M 2.46M
Diluted EPS -0.02 0.01 0.01 0.00 -0.11
Dividends Per Share 0 0.01 0.01 0 --
Total Assets 1,608.22M 1,679.74M 1,633.80M 1,743.86M 1,578.71M
Total liabilities 867.33M 902.21M 914.04M 996.45M 951.11M
Total equity 564.48M 600.62M 646.12M 674.23M 566.23M
Operating cash flow -6.23M 0.46M 19.48M 1.73M -18.63M
 Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020
Revenue 224.21M 230.00M 243.86M 254.32M 114.42M
Gross Profit 94.98M 99.08M 107.98M 111.55M 21.52M
Operating income -2.06M 12.97M 12.08M 26.11M -17.30M
Income before tax 0.49M 16.41M 18.50M 9.87M -63.71M
Net income -11.73M 9.36M 9.98M 0.47M -69.47M
EBITDA 16.08M 31.16M 28.66M 43.49M 1.78M
Diluted EPS -0.01 0.01 0.01 0.00 -0.08
Dividends Per Share 0 0.00 0.00 0 --
Total Assets 1,113.18M 1,256.91M 1,198.68M 1,296.89M 1,194.50M
Total liabilities 600.35M 675.10M 670.61M 741.05M 719.63M
Total equity 390.72M 449.43M 474.04M 501.42M 428.43M
Operating cash flow -4.51M 0.33M 14.44M 1.26M -13.50M

Valuation Measures

Dec 2020
PER--
ROA-5.76%
ROE-15.45%
Operating margin-15.12%
Profit margin-60.72%

Key executives

  • Group Managing Director, Group MD & Executive VP: Hock Lye See
  • SVP & Managing Director-Retail Operations: Claire See Ngoh Chiang
  • Senior Vice President & Group Chief Designer: Kwon Cjan Ho
  • Senior Vice President & MD-Architrave: Dharmali Kusumadi
  • Senior Vice President & MD-Spa Operations: Shankar Chandran

Shareholders

  • HO FAMILY /SG/ (34.8%)
  • Qatar Investment Authority (Investment Company) (17.7%)
  • Qatar Holding LLC (6.6%)
  • HO KWON CJAN (1.8%)
  • Freesia Investments Ltd. (1.1%)
  • Li-Ho Holdings Pte Ltd. (1.0%)
  • Dimensional Fund Advisors LP (0.6%)
  • Nikko Asset Management Asia Ltd. (0.2%)
  • ANG KOON SAN SUNNY (0.1%)
  • Banyan Tree Holdings Ltd. (0.1%)

Contact Details

Related Companies

  • Banyan Tree Spa (HK) Ltd.
  • Banyan Tree Resorts Ltd.
  • Banyan Tree Indochina Holdings Pte Ltd.
  • Banyan Tree Indochina Hospitality Fund LP
  • Banyan Tree SpA
  • Maldives Bay Pvt Ltd.
  • Banyan Tree (Pvt) Ltd.
  • Hill View Resorts Holdings Ltd.
  • Banyan Tree Anhui (S) Pte Ltd.
  • Banyan Tree Global Foundation
  • Banyan Tree Yangshuo (S) Pte Ltd.
  • Banyan Tree Resorts Management Co. Ltd.
  • Banyan Tree Gallery Thailand Ltd.
  • Banyan Tree Seychelles
  • Banyan Tree Indochina Management (Singapore) Pte Ltd.
  • Banyan Tree China Holdings Pte Ltd.
  • Banyan Tree Chengdu Pte Ltd.
  • Banyan Tree Jiuzhaigou (S) Pte Ltd.
  • Banyan Tree Dunhuang (S) Pte Ltd.
  • Sanctuary Gyalthang Dzong (Cayman) Ltd.
  • Sanctuary Jiwa Renga (Cayman) Ltd.
  • Sanctuary Lhasa (Cayman) Ltd.
  • Sanctuary Lijiang (Cayman) Ltd.
  • Banyan Tree Hotels & Resorts Pte Ltd.
  • Enda Pte Ltd.
  • Banyan Tree Investments Pte. Ltd.
  • Banyan Tree Seychelles Holdings Ltd.
  • Banyan Tree 2004-1
  • Banyan Tree Resorts & Spas (Thailand) Co. Ltd.
  • Laguna Resorts & Hotels Public Co. Ltd.

Competitors

  • Hyatt Hotels Corporation Class A
  • Dusit Thani Public Co. Ltd.
Last Updated on 26 Feb, 2021

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