- In 1H23, Group Property sales achieved S$170 million in sales, on track to surpass the record-breaking sales of FY22.
 Core Operating Loss = Operating Loss before one-off gains or losses. This is an alternative performance measure and do not have a standardised meaning prescribed by Singapore Financial Reporting Standards (International). (Operating Loss = EBITDA (Earnings before interests, taxes, depreciation & amortisation).
Banyan Tree Holdings Limited (“the Group”) achieved 68% increase in Core Operating Profit for the first half ended 30 June 2023 compared to the same period last year. This is largely due to a 21% increase in revenue.
The Group's hotels have shown a good recovery from the impact of the Covid-19 pandemic, surpassing all pre-covid 2019 metrics across various regional markets. The Group’s RevPAR for 1H23 showed a significant upsurge of 64% compared to 1H22 and 27% compared to 1H19 (pre-covid) on a same-store basis.
Branded residences and extended stays (Property Sales) segment is on track for a record year with 77% increase in new sales compared to same period last year.
For the remainder of 2023, Banyan Tree Group will introduce 3 new properties in Zhuhai - China, Yogyakarta - Indonesia and Koh Samui - Thailand.
In 1H23, The Group signed 8 hotel management agreements and 1 pure residence agreement in China, Indonesia, Japan, Korea, Thailand and Vietnam.
In 1H2023, The Group received over 50 awards and accolades from esteemed media and institutions, including Condé Nast Traveler USA, Travel + Leisure USA, DestinAsian, National Geographic Traveler China, and Forbes Travel Guide. This remarkable achievement adds to a total of 3,096 awards and recognitions since the Group's inception.