Banyan Tree net profits up 33% in 2024

The group attributed this to a 15% increase in operating profit.

Banyan Tree Holdings reported a profit attributable to the owners of the company of $42.1m in 2024, a 33% increase from $31.7m.

Revenue was $380.6 in 2024, compared to $327.9m in 2023.

Operating profit went up 15% to $103.2m, largely due to a 16% increase in Revenue across all business segments—Hotel Investments, Fee-based, and Residences. These achievements are bolstered by a record-breaking $328.8m in residences sales, and 18 new agreements signed in the year.

As of today, Banyan Group operates 91 hotels and resorts worldwide, with 17 new openings in FY2024. Notable additions include six properties in Japan and South Korea, and eight in China—amongst them, Banyan Tree’s debut in Japan with Banyan Tree Higashiyama Kyoto.

The directors recommended a first and final one-tier tax-exempt cash dividend of 1.3 cents per ordinary share for the financial year ending 31 December 2024.