Singapore’s Banyan Tree Adding Four Properties to Mexico Portfolio

Singapore’s Banyan Tree Holdings Ltd -Banyan Tree- a leading developer, designer and operator of top tier resorts, hotels and spas worldwide, today announced the doubling of its Mexican portfolio to four projects.

In joint venture agreements with leading Mexican entities, Grupo Megaterra and Mexico Inversiones S.A. de C.V., Banyan Tree will invest in, design and operate Banyan Tree Chamela and Banyan Tree Los Cabos. These are in addition to Banyan Tree Punta Diamante in Acapulco and Banyan Tree Mayakoba in Rivera Maya, which are currently in development.

Banyan Tree has taken minority equity positions in each of the four projects as joint venture partner. The combined development costs of the 4 projects will exceed $200 million.

Banyan Tree will take a 19.9 percent share in each of Banyan Tree Los Cabos and Banyan Tree Chamela. It also as an option to acquire a further 10.1 percent of share in each of the two projects within 18 months of the formal openings of each resort.

Banyan Tree Los Cabos and Banyan Tree Chamela will feature sale of resort residences where buyers can opt to lease back their interests into the resort pool.

Banyan Tree will master plan, provide architectural and interior design concepts for both resorts which will include its signature pool villa, multi-award winning spa and its unique brand of Asian hospitality.
Banyan Tree Los Cabos will reside on 8 hectares of prime beachfront land on the Southern tip of Baja California. The resort will be set against the backdrop of the peaks of the Sierra de la Laguna amidst miles of golden beach, clear blue water and dramatic red rock formations; saguaro cactus, palms with a golden desert landscape within a stone’s throw away.

Located in the State of Jalisco, Banyan Tree Chamela will reside within a 200-hectare Banyan Tree branded integrated resort. The integrated resort will offer guests spectacular views of the protected islands around Chamela and will feature world-class golf courses and a high-end mix of Banyan Tree branded residences for sale.

Completion of both resorts is targeted for end-2009. This announcement comes almost immediately after Banyan Tree announced 2 weeks ago its breakthrough foray into the luxury city hotel market space with its management projects for Banyan Tree Beijing, Angsana Solana Beijing and Banyan Tree Hangzhou.