from the Quarterly Reports from Banyan Tree.
They do believe things are improving, but expect the next 2 quarters to be tricky. The expansion plans look good though....
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OUTLOOK from Banyantree.com
Notwithstanding the current economic downturn, 1Q09 results have been above our expectations. As we enter into the low season of the year, the performance of the Group in the next 2 quarters will remain challenging and possibly unprofitable. However, if the global economic crisis and Thai political situation stabilises and barring any other unforeseen circumstances, we expect the full year results to be profitable
The following resorts are currently scheduled to open in the next few quarters:
i. Banyan Tree Hangzhou, China
ii. Banyan Tree Ungasan, Bali, Indonesia
iii. Banyan Tree Al-Wadi, Ras Al Khaimah, UAE
iv. Banyan Tree Cabo Marques, Acapulco, Mexico
v. Banyan Tree Koh Samui, Thailand
Also in the next few quarters, they expect to launch an estimated 6 spas under management.