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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 the management and development of premium resorts, hotels, and spas. It operates through the following segments: Hotel Investments, Property Sales, Fee-based, and Head Office. The Hotel Investment segment operates hotels and restaurants. The Property Sales segment includes hotel residences, Laguna property and site sales, and development project. The Fee-based segment consists of the hotels, resorts, asset-backed destination club, and private-equity funds management; spas management and operation, merchandise sales, architectural and design services, golf courses management, ownership and retail outlets, and offices rental. The Head Office segment pertains to expenses incurred by corporate office. The company was founded by Kwon Ping Ho in 1994 and is headquartered in Singapore.

Financial Highlights

Dec 2021 SGDUSD
Revenue221.22M164.62M
Gross Profit37.21M27.69M
Operating income-31.06M-23.11M
Income before tax-54.46M-40.53M
Net income-55.19M-41.06M
EBITDA-8.39M-6.24M
Diluted EPS-0.06-0.04
Dividends Per Share00
Total Assets1,423.58M1,055.95M
Total liabilities885.49M656.82M
Total equity488.25M362.16M
Operating cash flow119.90M89.22M
Currency in SGDCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 317.51M 329.04M 346.95M 157.83M 221.22M
Gross Profit 136.78M 145.69M 152.18M 29.68M 37.21M
Operating income 17.90M 16.30M 35.62M -47.81M -31.06M
Income before tax 22.65M 24.96M 13.47M -87.88M -54.46M
Net income 12.92M 13.47M 0.65M -95.83M -55.19M
EBITDA 43.01M 38.67M 59.33M -21.48M -8.39M
Diluted EPS 0.01 0.01 0.00 -0.11 -0.06
Dividends Per Share 0.01 0.01 0 0 0
Total Assets 1,679.74M 1,633.80M 1,743.86M 1,578.71M 1,423.58M
Total liabilities 902.21M 914.04M 996.45M 951.11M 885.49M
Total equity 600.62M 646.12M 674.23M 566.23M 488.25M
Operating cash flow 0.46M 19.48M 1.73M -18.63M 119.90M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 230.00M 243.86M 254.32M 114.42M 164.62M
Gross Profit 99.08M 107.98M 111.55M 21.52M 27.69M
Operating income 12.97M 12.08M 26.11M -34.66M -23.11M
Income before tax 16.41M 18.50M 9.87M -63.71M -40.53M
Net income 9.36M 9.98M 0.47M -69.47M -41.06M
EBITDA 31.16M 28.66M 43.49M -15.57M -6.24M
Diluted EPS 0.01 0.01 0.00 -0.08 -0.04
Dividends Per Share 0.00 0.00 0 0 0
Total Assets 1,256.91M 1,198.68M 1,296.89M 1,194.50M 1,055.95M
Total liabilities 675.10M 670.61M 741.05M 719.63M 656.82M
Total equity 449.43M 474.04M 501.42M 428.43M 362.16M
Operating cash flow 0.33M 14.44M 1.26M -13.50M 89.22M

Valuation Measures

Dec 2021
PER--
ROA-3.67%
ROE-10.46%
Operating margin-14.04%
Profit margin-24.94%

Key executives

  • President & Chief Executive Officer: Hock Lye See
  • Secretary, SVP-Group Finance & Corporate Affairs: Keen Choy Moy
  • SVP & Managing Director-Retail Operations: Claire See Ngoh Chiang
  • Senior Vice President: Stuart David Reading
  • Senior Vice President & Group Chief Designer: Kwon Cjan Ho

Shareholders

  • HO FAMILY /SG/ (33.7%)
  • Qatar Investment Authority (Investment Company) (17.2%)
  • Qatar Holding LLC (6.4%)
  • Estate of Ng Teng Fong (5.0%)
  • HO KWON CJAN (1.8%)
  • Freesia Investments Ltd. (1.1%)
  • Li-Ho Holdings Pte Ltd. (0.9%)
  • Dimensional Fund Advisors LP (0.6%)
  • ANG KOON SAN SUNNY (0.1%)
  • VERA ARIEL P (0.1%)

Contact Details

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Competitors

  • Hyatt Hotels Corporation Class A
  • Dusit Thani Public Co. Ltd.
Last Updated on 2 Dec, 2022

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