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New net loss for Banyan Tree

Banyan Tree Holdings, which manages and develops resorts, hotels and spas, in Phuket and other destinations in Asia reported a net loss of S$2.78 million for the July-September quarter of 2012.

BanyanTreeDoublePoolVilla2Banyan Tree attributed the loss, saying it on expected lines, to the "low season period" coupled with the weak global economy.

The result is a marginal improvement from the net loss of S$2.89 million recorded in same quarter a year ago

In a regulatory feeling to Singapore Exchange, the company said that its revenue in Q3 rose 19% on-year to S$78.7 million, mainly driven by higher contributions from hotel investments in Phuket and Seychelles.

Royalty fees from the sale of condominium units at Banyan Tree Signatures Pavilion in Kuala Lumpur and project design fees in China, also contributed to the revenue, said the company.

Excluding unexpected circumstances, the company continues to face good recovery in primary markets and expects its annual profit to increase compared to last year.

During the last fiscal, Banyan Tree had posted a net profit of S$1.56 million.

About Banyan Tree Holdings

Banyan Tree Holdings Limited is a leading manager and developer of premium resorts, hotels and spas in the Asia Pacific, with close to 30 resorts and hotels, over 60 spas and 80 galleries; as well as three golf courses. The Group manages and/or has ownership interests in niche resorts and hotels. The resorts each typically has between 50 and 100 rooms and commands room rates at the high end of each property’s particular market.

The Group’s primary business is the management, development and ownership of resorts and hotels.  This is centred around two award-winning brands: Banyan Tree and Angsana. Banyan Tree also operates the leading integrated resort in Thailand – Laguna Phuket, through the Group’s subsidiary, Laguna Resorts & Hotels Public Company Limited.

In addition to the Group’s existing resorts & hotels, Banyan Tree Holdings is spreading its wings to the Middle East, Central America, Europe and Africa.

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