Banyan Targets China Residential Opportunities
There is little doubt over the past year the Banyan Tree vis a vie their controlling interest in Thai listed Laguna Resorts and Hotels are looking abroad for greener pastures.
An orderly divestment of key assets namely the Laguna Beach Resort and Dusit Thani Laguna Phuket have been made, and publically the group has said they want to lower their financial exposure in a market ridden with political risk.
Key Banyan Tree executie K.P. Ho has been quoted by Dow Jones Newswires that the group is looking to build upscale houses in China's secondary destinations.
With seven resorts open and more than 20 in the pipeline the group is now keen to shift into property offering as well, with Ho naming Chengdu as a likely example.
Here in Phuket it is no secret that the developer has hit challenging times with a large surplus of completed units that remain unsold throughout the integrate resort.
So for now a shift to China and the soon to launch Laguna Hue in Vietnam increasingly will diversify and expand the groups ambitions