Northern emirate is now fourth largest market for company, which has 30 boutique hotels
Revenue at Banyan Tree Hotels and Resorts’ two resorts in Ras Al Khaimah increased by 50 percent last year – more than any other region, including China.
The northern emirate is now the fourth largest market for the company, which has 30 boutique hotels, 60 spas and 80 retail galleries internationally, including Banyan Tree Al Wadi and Banyan Tree Ras Al Khaimah, Beach.
Banyan Tree Hotels and Resorts CEO Abid Butt said the company was looking to expand in the Middle East on the back of its success so far.
“We are really encouraged by the increase in business from the Middle East and hope to build on this momentum,” he said.
“Total room nights grew by 65 percent year-on-year and revenue increased by 53 percent and I believe this is because the Banyan Tree experience resonates well with our guests from the Middle East, as it offers the right level of privacy and serenity in locations that inspire and delight.”
Banyan Tree Hotels and Resorts will open its first sister branded hotel in the region, Angsana Sifah, in the coastal development of Jebal Sifah in Oman in 2015.
The resort will offer 200 suites and an Angsana Spa and will be part of a development that includes villas, apartments, an 18-hole golf course and a marina.
Overall the company reported a 3 percent increase in total revenue and a 51 percent increase in operating profit in 2012, largely due to successful hotel investments and an improved performance for fee-based segments including Banyan Tree Spa and Banyan Tree Gallery.