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Banyan Group has acquired a majority stake in African hospitality management company Newmark Hotels & Reserves as part of a phased ownership agreement that will ultimately lead to full ownership.
The strategic partnership brings Newmark into Banyan Group as a collection brand, adding 26 hotels, lodges and reserves across Mauritius, Namibia, Nigeria, South Africa, Tanzania, Uganda and Zimbabwe.
Newmark will retain its existing brand, management team and local operating approach, with founder and Chief Executive Officer Neil Markovitz continuing to lead the business.
Day-to-day operations, individual property branding, owner relationships and existing commercial arrangements will also remain unchanged.
Following the transaction, Banyan Group’s portfolio will comprise almost 130 hotels, resorts and reserves, more than 30 branded residences and over 140 spas and galleries across 14 hospitality and residential brands in 28 countries.
The partnership combines Newmark’s established African hotel management platform with Banyan Group’s international distribution, development and commercial infrastructure.
Ho Kwon Ping, Founder and Executive Chairman of Banyan Group, said: “We welcome Newmark to Banyan Group with confidence in the strength of the business it has built in Africa and the entrepreneurial spirit that has shaped it.
“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. We look forward to what we can build together across Africa.”
Newmark was founded by Markovitz in 2007 and has developed a portfolio spanning city and heritage hotels, country lodges, island retreats and private game reserves.
Its properties include QWABI Private Game Reserve in South Africa’s Waterberg, Motswari Private Game Reserve in the Greater Kruger ecosystem and Gorilla Heights Lodge alongside Uganda’s Bwindi Impenetrable National Park.
The portfolio also includes Future Found Sanctuary on Table Mountain and properties in Zanzibar and Mauritius.
Markovitz said: “Over nearly two decades, Newmark has built its business through strong teams, trusted owner and partner relationships and a portfolio where each property retains its own identity.
“Joining Banyan Group gives us greater international reach and access to a wider network of expertise while retaining what has made Newmark successful. It also gives us greater scope to introduce travellers around the world to the destinations and experiences across our portfolio.”
Banyan Group currently operates four hotels and four spas in Africa across Morocco, Mauritius, South Africa and Tanzania.
The addition of Newmark will extend its presence into Namibia, Nigeria, Uganda and Zimbabwe, while adding further expertise in wildlife and nature-led hospitality.
Eddy See, President and Chief Executive Officer of Banyan Group, said: “Africa is a long-term growth market for Banyan Group. 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.
“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.”
Newmark will continue operating its own website and direct booking channels, with existing guest reservations remaining unchanged.
Its properties will gradually be introduced to Banyan Group’s booking platforms and withBanyan guest recognition programme.
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