Banyan Tree Holdings has reported earnings of $9 million for the 1HFY2025 ended June 30, up 45% y-o-y.
The group’s revenue grew 15% y-o-y to $206.1 million for 1HFY2025, while core operating profit grew to $39.4 million.
The improved results for 1HFY2025 is due to increase in revenue across all of Banyan’s business segments — Hotel Investments, Fee-based and Residences. These achievements are bolstered by $168.8 million in residences sales, and 10 new agreements signed in the year.
In its Hotel Investments segment, revenue increased 5% y-o-y driven by strong revenue per available room (RevPAR) in Maldives and Morocco. Higher contributions from Phuket hotels were partially offset by the earthquake in Bangkok, and softer demand from China.
Banyan says that despite the revenue growth, operating profit declined 8% to $26.5 million in 1HFY2025, primarily due to foreign exchange losses compared to gains recorded in the same period a year ago.
In its Residences segment, revenue increased 41% y-o-y despite fewer units recognised. This was driven by the handover of 83 higher-value Laguna Beachside condominium units, but partially offset by lower unit recognition from the Laguna Lakeside condominium.
The group’s fee-based segment increased from stronger contributions from managed hotels in Asia (excluding China) and the Americas where RevPAR rose 2% and 6% respectively.
The 10 new management contracts were secured across Vietnam, Cambodia, Montenegro, Indonesia, and China.The group will open five new properties in 2025 in China.
In its branded residences segment, Banyan Group launched two projects in Madrid and Phuket, Thailand.
As at June 30, the group operates 93 hotels and resorts, over 140 spas and galleries, more than 20 branded residences across over 20 countries, and is on track to celebrate its 100th property milestone with the Grand Opening of Mandai Rainforest Resort by Banyan Tree in November.
The group has not declared any dividend for the current financial period.
Shares in Banyan Tree Holdings closed 2.5 cents lower or 3.906% down at 61.5 cents on Aug 13.
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