Banyan Tree Holdings Ltd.

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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	SGD	USD
Revenue	221.22M	164.62M
Gross Profit	37.21M	27.69M
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 Share	0	0
Total Assets	1,423.58M	1,055.95M
Total liabilities	885.49M	656.82M
Total equity	488.25M	362.16M
Operating cash flow	119.90M	89.22M
	Currency in SGD	Currency in USD

Historical Data

SGD | USD

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 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 2017	Dec 2018	Dec 2019	Dec 2020	Dec 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

Website:http://www.banyantree.com
Phone: +65.6849.5888

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Competitors

Hyatt Hotels Corporation Class A
Dusit Thani Public Co. Ltd.

Last Updated on 4 Oct, 2022