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Banyan Tree posts losses in 2H20, but is "determined to build back better," says Ho Kwon Ping

Amala Balakrishner
Amala Balakrishner3/1/2021 5:33 PM GMT+08  • 3 min read
Banyan Tree posts losses in 2H20, but is "determined to build back better," says Ho Kwon Ping
“We have taken the opportunity to lay the foundations of a more agile, resilient and responsive organisation,” says Ho Kwon Ping.
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Resort-developer Banyan Tree sank deeper into the red with losses of $49.8 million in 2H2020 ended December, down from earnings of $5.2 million in the year before.

This follows a 61% plunge in its revenue to $82.5 million in 4Q2020 from $213.97 million in the year before that came as a result of the travel restrictions imposed globally to curb the spread of the coronavirus.

Specifically, hotel investments contributed to less than 20% of 2H2020 revenue as compared to the 37% it accounted for 2H2019.

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