The award-winning hospitality group, Banyan Tree, has announced the launch of a new brand, Cassia, in a completely new space for the group.
Having identified a niche in the market, Banyan Tree brings its expertise in design and innovation to create an exciting and bold new proposition in the serviced apartment sector bringing the company’s portfolio to three brands.
Nestled in a niche sector between hotel and apartment, Cassia offers one and two-bedroom units with flexible living and dining options.
Cassia has been created to bring together investment opportunities for the growing middle-class looking for affordable holiday homes as well as the opportunity to develop an innovative hotel product in the serviced apartment segment.
Cassia merges three of the group’s strengths, hospitality, design and real estate, to set the stage for the hotel residences of the future,” says Ho Kwon Ping, executive chairman, Banyan Tree Group.
“The extended stay segment has been overlooked in recent years so we took the opportunity to innovate and create a hospitality product that meets the demands and needs of today’s travellers.”
Five projects are already in development in Phuket, Thailand; Bintan, Indonesia; Beruwala, Sri Lanka, Gold Coast, Australia and Lijiang, China. Interest has already been strong with 70 per cent of Phuket and 45 per cent of Bintan being sold in phase one.
Cassia will offer fully-furnished one and two-bedroom units for sale with prices starting at S$180,000 for a 35 square metre one-bedroom apartment.
The investment opportunity comes with a range of flexible options.