Singapore's Banyan Group Buys Newmark to Add 26 Hotels in Africa
Banyan Group acquires a 70% stake in Cape Town-based Newmark Hotels & Reserves for $33 million, expanding its safari and nature portfolio.
Stock photo for illustration only, not from the actual event
- Banyan Group acquires a 70% stake in Newmark Hotels & Reserves for $33 million in cash.
- The deal grows Banyan's global portfolio by roughly a third to nearly 130 properties across 28 countries.
- Newmark brings 26 hotels, lodges, and private game reserves across seven African countries into the network.
- Full ownership is contingent on Newmark reaching a 63 million rand stabilized EBITDA target by fiscal 2029.
Singapore-listed hospitality company Banyan Group, best known for its Banyan Tree resorts, has agreed to acquire a 70% majority stake in Newmark Hotels & Reserves, a Cape Town-based operator of safari lodges and hotels, with a strategic path toward full ownership over the coming years.
The transaction values Newmark at approximately 756 million South African rand, or about $47 million. The initial cash outlay stands at roughly 533 million rand, or $33 million, while securing full ownership remains tied to Newmark achieving a stabilized EBITDA target of 63 million rand, equivalent to $3.9 million, by fiscal 2029—an ambitious goal that more than doubles its current earnings.
Stock photo for illustration only, not from the actual event
This strategic acquisition expands Banyan's portfolio by roughly a third, bringing its total footprint to nearly 130 hotels, resorts, and reserves across 14 brands in 28 countries. Newmark will operate as a collection brand within Banyan's ecosystem, with its existing leadership team remaining in place to manage the 26 properties and over 1,300 rooms across seven African countries, which will soon integrate into Banyan's booking channels and loyalty programs.
Banyan's 'asset-right' strategy—a hybrid model of owning select properties while managing others for third-party owners—allows hospitality groups to scale rapidly in high-growth emerging regions like Africa without shouldering the heavy capital expenditures of real estate ownership. However, entering this market places Banyan in direct competition with established local operators and international giants such as Marriott's Protea and Radisson.
The move taps into Africa's rising tourism sector, which saw 81 million international arrivals in 2025, representing an 8% increase. By leveraging Newmark's local market knowledge, owner relationships, and management contracts rather than bricks and mortar, Banyan aims to establish a firm foothold in safari and nature hospitality.
Source: Skift
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