Banyan Tree forms JV with Vanke to consolidate China assets

SINGAPORE (Jan 23): Banyan Tree Holdings and China Vanke Co. have agreed to create Banyan Tree China (BTC), a new joint venture between Banyan Tree and Vanke, to consolidate the ownership of Banyan Tree-branded hotels and assets in China.

The amount of initial paid-up capital of BTC is estimated to be no more than RMB2 billion ($414.3 million).

BTC will also be the development and management platform for new projects by both parties in hospitality, senior-living and wellness.

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