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Banyan Tree in recovery after Asian tsunami

14 August 2006
Banyan Tree in recovery after Asian tsunami

Luxury hotel resort operator Banyan Tree Holdings' second quarter results reflect a recovery in Singapore's tourist trade following the Asian tsunami.

The company, which manages luxury hotels and spas across the Asia Pacific reported a second quarter net loss of $2m (£1.1m), down from $9m (£4.8m) a year earlier.

Revenue for the three months ended 30 June rose 110% to $71.4m (£37.8m) from $34m (£18m) a year earlier, with all parts of the business showing an improvement in performance.

By Matthew Batham

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