| Banyan Tree is a globally recognised luxury hotel brand from Singapore. For many years, it has, however, languished in the stock market because of lack-lustre earnings and minimal dividends, among other things.
Compared to its IPO price (97 cents) in 2006, Banyan Group's stock has halved. Even with major investors like Qatar Investment Authority (23.76% stake) getting on board, the stock failed to impress investors. That changed in June 2025, with the stock surging 46% since -- from 35 cents to 51 cents, a 10-year high.  While there's been no news from Banyan, an investor's blog posts have gone viral. Best-known for its luxurious hotels around the world, Banyan, as described in the Lone Wolf Investor’s blog, is one of both promise and frustration. Diving into the company's business, the author unearthed, among other things, its exciting Phuket property development segment and its plans to enhance shareholder value. |
Banyan owns a massive 4 sq km plot of land in Phuket, Thailand, "equivalent to two thirds of Choa Chu Kang".
Some 2.2 sq km of that was bought in the late 1980s long before the island became a global tourism hotspot.
On it, Banyan created the Laguna Phuket integrated resort which is still a work in progress, with some 700 residential units under development.
No surprise, over 3 decades this land is now incredibly valuable.
Banyan is now the largest private residential developer on the island.
It is in the midst of building the Laguna Lakelands project on an additional 1 million sq km of land adjacent to Laguna Phuket: 
Banyan's 86% owned Laguna Resorts & Hotels has been steadily selling residential units.
It reported a strong first quarter in 2025, with profits more than 4X that of Banyan’s 1H2024 (S$6.2 million).
(Banyan did not report its own 1Q2025 results, so all eyes will be on its upcoming 1H2025 report).
On revenue of THB 1.4b (S$55 million) in 1Q2025, Laguna Resorts & Hotels produced THB 680m (S$27 million) in net profit.
Much of the demand stems from Phuket becoming a magnet for people seeking second homes, especially digital nomads and wealthy individuals from countries affected by war, such as Russia, or climate change.
The island’s appeal is boosted by its international schools, hospitals, marinas, and direct flights.
There’s speculation that the Thai government may allow a casino in Phuket, which could further boost property values and tourism.
| : In 2025, Banyan is set to record S$262 million in revenue from Phuket project sales, more than doubling from FY2024, according to Banyan's FY24 presentation deck. A total of S$620 million in residential projects have been pre-sold as at end-2024, with revenues to be recognized over the next few years. |
Banyan is led by Ho Kwon Ping, praised for his vision and charisma.
In addition to building amazing luxury hotels globally, he has focused on sustainability and corporate social responsibility, but investors are hoping for better financial returns.
Management has discussed splitting Banyan’s hotel management and property arms into separate entities to unlock value (see screenshot below):
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