Banyan Group acquisition

Hotels & Resorts

Banyan Group acquires Newmark Hotels & Reserves, expands Africa portfolio.

After a strategic relationship with Newmark Hotels & Reserves, Banyan Group will acquire a majority stake in the Cape Town-based hospitality management company in phases. Newmark will join Banyan Group as a collection brand with 26 hotels, lodges, and reserves in Mauritius, Namibia, Nigeria, South Africa, Tanzania, Uganda, and Zimbabwe. Newmark will keep its brand, leadership, people, and local operations.…