Banyan Tree Holdings turns profitable

Banyan Tree Holdings, which owns the Banyan Tree resort in Maldvies, has turned a US$3 million profit in the final quarter of 2009 on the back of $7 million losses in the same period of 2008.

The company reported revenue growth from hotels in China and the Maldives, and particularly strong growth hotels and resorts in Thailand.

Executive Chairman of Banyan Tree Holdings Ho Kwon Ping, said he was “cautiously optimistic of a better performance in 2010, with the global economy off to an earlier start than expected.”