Global hospitality company Banyan Group has acquired the majority stake in African luxury reserves operator Newmark Hotels & Reserves and will eventually become its full owner.
Singapore-based Banyan Group formed a strategic partnership with Cape Town-based Newmark, a hospitality management company, as part of its phased ownership structure deal, according to a news release.
Newmark will join Banyan Group as a collection brand, bringing its managed portfolio of 26 hotels, lodges and reserves across seven countries in Africa. As a result of the deal, Banyan’s portfolio will have nearly 130 hotels, resorts and reserves along with 30 branded residences and more than 140 spas and galleries in 14 hospitality and residential brands in 28 countries.
Newmark will retain its existing brand, teams and local operating approach as part of the acquisition.
"We see in Newmark many of the qualities that shaped Banyan Group from the beginning: independence of thought, a long-term view and the conviction to build something distinctive,” said Ho Kwon Ping, founder and executive chairman of Banyan. “We look forward to what we can build together across Africa."
"Joining Banyan Group gives us greater international reach and access to a wider network of expertise while retaining what has made Newmark successful,” said Newmark founder and CEO Neil Markovitz. “It also gives us greater scope to introduce travelers around the world to the destinations and experiences across our portfolio."
Markovitz founded Newmark in 2007. The company’s portfolio includes properties in Mauritius, Namibia, Nigeria, South Africa, Tanzania, Uganda and Zimbabwe. The properties vary in type, including heritage and city hotels, nature and country lodges, island retreats and private game reserves.
Banyan Group celebrated the opening of its 100th global resort in 2025 with the Mandai Rainforest Resort by Banyan Tree, coming on top of three decades of growth. The company has been expanding its footprint in Africa as part of its global growth strategy. Prior to the Newmark deal, it had four hotels and spas in Morocco, Mauritius, South Africa and Tanzania. It will enter West Africa with the upcoming opening of the Dhawa Ouidah in Benin.
Banyan Group President and CEO Eddy See said in the news release that Africa is a long-term growth market for the company.
“Newmark brings an established management business, long-standing owner relationships and strong operating capabilities that deepen our presence in the region and strengthen our asset-right model,” he said. “Its local market knowledge and development pipeline, combined with Banyan Group's international sales, distribution and development network, give us a stronger platform to pursue the right opportunities across Africa."