Banyan Tree enters the Turkish market with the signing of a new management contract in Turkey. This follows on earlier announcements in the year on management deals in China and Mexico and furthers Banyan Tree’s…
Banyan Tree enters the Turkish market with the signing of a new management contract in Turkey. This follows on earlier announcements in the year on management deals in China and Mexico and furthers Banyan Tree’s continued expansion into new destinations around the world.
“This project exemplifies Banyan Tree’s ability to continually lead the markets by tapping into what we see as Bodrum’s yet unrealized potential as a high-end resort and vacation home ownership destination. Banyan Tree Bodrum is another key step in the Group’s diversification into key regions globally,” said Executive Chairman, Mr Ho Kwon Ping.
In its first foray into Turkey, Banyan Tree will manage a boutique resort and residential development located in the northern coast of the Bodrum peninsula. Developed by Osmanli Yapi 1 Insaat Turizm Sanayi ve Tic. A.S., a subsidiary of the London listed Ottoman Fund, the resort will also include a 4,000 square meter spa facility featuring Banyan Tree’s spa treatments.
These new developments are not expected to have any material financial impact on the Group’s earnings and its net tangible assets for 2007.
