Banyan Group expands into US with Florida residential tower

[SINGAPORE] Hospitality player Banyan Group on Wednesday (Mar 25) announced an expansion into the US with the launch of sales for its new private residences.

The residential tower in Palm Beach, Florida, comprises 88 private residences, ranging from one to four-bedroom layouts, along with a limited collection of penthouses.

Ho Kwon Ping, founder and executive chairman of Banyan Group, said: “The United States represents an important market for Banyan Group, and American travellers have long been among our most valued guests across our resorts worldwide.”

Named Banyan Tree Residences West Palm Beach, the property was developed in collaboration with real estate investment and development company Mast Capital and Florida-based real estate developer Curated JCZM Development.

Camilo Miguel, founder and chief executive officer of Mast Capital, noted that West Palm Beach is “emerging as a global residential destination”.

Banyan Group added that through The Sanctuary Club, a membership programme for its property owners, the Palm Beach residence owners will enjoy preferred access to Banyan Group’s hotels, resorts and spas, and galleries.

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The company last month reported a 7 per cent decline in net profit to S$33.5 million for the second half ended Dec 31, 2025, from S$35.9 million in the corresponding period a year earlier. This came despite revenue for the half year growing 35 per cent to S$271.3 million from S$200.9 million previously.

Shares of Banyan Tree closed 1.7 per cent or S$0.01 higher at S$0.585 on Wednesday.