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.
In 28 countries, Banyan Group will include almost 130 hotels, resorts, reserves, more than 30 branded residences, and 140 spas and galleries across 14 hospitality and residential brands.
Newmark’s regional knowledge and management platform in urban, nature-based, and wildlife hospitality are combined with Banyan Group’s international distribution, development, and commercial skills. It should help Newmark expand in Africa and abroad.
Founder and Executive Chairman Ho Kwon Ping said, “We welcome Newmark to Banyan Group with confidence in the strength of its business in Africa and the entrepreneurial spirit that has shaped it. Newmark has many of Banyan Group’s founding values: independence, long-term thinking, and a desire to build something unique. We anticipate building together across Africa.”
Newmark, founded by Neil Markovitz in 2007, features heritage and city hotels, nature and country lodges, island retreats, and private game reserves. It owns QWABI Private Game Reserve in South Africa’s Waterberg, Motswari Private Game Reserve in the Greater Kruger ecosystem, and Gorilla Heights Lodge near Uganda’s Bwindi Impenetrable National Park.
Newmark Hotels & Reserves founder and CEO Markovitz remarked, “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. We join Banyan Group to expand internationally and gain knowledge while keeping Newmark’s success.”
Banyan Group operates four hotels and four spas in Morocco, Mauritius, South Africa, and Tanzania, and the transaction expands its presence in Africa. Newmark will expand into Namibia, Nigeria, Uganda, and Zimbabwe and add wildlife and nature-based hotel capabilities.
Banyan Group sees long-term growth in Africa. Newmark’s management business, long-standing owner relationships, and excellent operating capabilities bolster our asset-right model and regional presence. Banyan Group President and CEO Eddy See stated the company’s local market understanding and growth pipeline, along with its international sales, distribution, and development network, provide us a better platform to explore the right opportunities across Africa.
Neil Markovitz and the current management team will lead Newmark under its present brand and leadership. Local teams will continue to handle owner, guest, partner, and community connections, property branding, and commercial arrangements.
Deputy Chief Executive Officer of Banyan Group Ho Ren Yung said, “Newmark’s hotels, lodges and reserves are closely connected to their locations. We wish to keep that local touch in nature-based and wildlife hospitality, where culture, communities, and the environment are important. We want each property to keep its individuality and sense of place as we grow.”
Newmark will keep its brand presence and direct booking channels, including its website, and honour all confirmed reservations under their current conditions.
Newmark properties will eventually be available through Banyan Group’s booking systems and participate in the with Banyan guest recognition program, offering members access to discounts and incentives at participating properties and expanding Newmark’s global reach.
As they integrate, the two firms want to improve booking and recognition across their portfolios while focusing on sustainability, conservation, and locally rooted travel.
