AGILITY IN A
TIME of covid
As the pandemic persisted through 2021, Banyan Tree Group proceeded to implement measures that assured the safety of guests and associates, maintained the financial stability of the Group, and enhanced our agility at both the organisational and operational levels.
These strategies, along with the rollout of vaccines and the beginning of border reopenings, led us to a turning point in the third quarter of 2021, with the Group’s first reported marginal operating profit since the start of the pandemic. Group-wide Hotel REVPAR grew by 23% for the full year versus 2020, heralding the start of what we expect to be a sustainable recovery.
Our response to COVID-19 has created competitive advantages that will benefit Banyan Tree Group long beyond the pandemic. With greater brand offerings, an efficient organisational structure, and a drive to digital enablement, we now have greater agility to respond as market dynamics change. This foundation generates positive momentum for the rebound ahead.