Banyan Group Strengthens African Footprint with Majority Stake in Newmark Hotels & Reserves
Singapore-based hospitality group Banyan Group is significantly expanding its presence in Africa. The group has recently acquired a majority stake in Newmark Hotels & Reserves, a leading hotel management company. This strategic move integrates 26 hotels, lodges, and reserves spread across seven African countries and the Indian Ocean region. The financial terms of the transaction have not been disclosed.
Strategic Partnership and Operational Continuity
The agreement covers properties located in South Africa, Namibia, Nigeria, Tanzania, Uganda, Zimbabwe, and Mauritius. The deal is structured around a progressive ownership model: Banyan Group initially secures a majority stake, with the remaining equity to be acquired over time.
Notably, Newmark will continue to operate under its own brand and retain its current leadership team, led by founder Neil Markovitz. For Banyan Group, the primary objective is to leverage Newmark’s deep local roots while combining them with Banyan’s international capabilities in distribution, development, and marketing.
This acquisition broadens Banyan Group’s portfolio across diverse segments, including:
- Urban hospitality
- Nature lodges
- Island retreats
- Private reserves
Several properties within the portfolio are directly linked to conservation efforts and nature-based tourism, such as the QWABI Private Game Reserve in South Africa and the Gorilla Heights Lodge in Uganda.
Combined Portfolio Scale
Founded in Cape Town in 2007 by Neil Markovitz, Newmark managed 26 properties as of 2025. With this integration, Banyan Group’s combined portfolio now includes:
- Nearly 130 hotels, lodges, and reserves
- Over 30 branded residences
- More than 140 spas and galleries
These assets are distributed across 28 countries under 14 hotel and residential brands.
Continued Growth in Africa
This expansion aligns with Banyan Group’s ongoing development strategy on the continent. Prior to this agreement, the group operated four hotels and four spas in Morocco, Mauritius, South Africa, and Tanzania. Additionally, Banyan Group is preparing its entry into West Africa with Dhawa Ouidah in Benin, a 132-room and suite property currently in its development pipeline.
Favorable Market Conditions
This strategic move comes at a time of robust growth in the African tourism market. According to the UN Tourism World Tourism Barometer, Africa welcomed 81 million international tourists in 2025, representing an 8% year-on-year increase—the highest growth rate among major global tourism regions. North Africa, in particular, recorded an 11% growth.
The economic significance of the sector continues to rise. Data from the World Travel & Tourism Council (WTTC) indicates that travel and tourism contributed $228 billion to the African economy in 2025. The WTTC projects this contribution to reach $241 billion in 2026, reflecting an expected growth rate of 5.4% for the year.
