The stake and the gate on the balance
Banyan Group agreed on 17 September 2026 to take a majority stake in Newmark Hotels & Reserves, the Cape Town-headquartered operator, under a phased structure that leads to full ownership.
Skift's read of the Singapore Exchange filing puts the stake at 70 per cent for about ZAR756 million, or $47 million. The first tranche is ZAR533 million, about $33 million, in cash. Banyan funds the purchase from internal resources.
Full ownership carries a condition. The remaining 30 per cent follows on Newmark reaching ZAR63 million, about $3.9 million, of stabilised EBITDA in the financial year to February 2029. Newmark delivered about ZAR28.8 million in the year to February 2026, so the target sits above double the delivered figure.
A collection brand on the group's books
Newmark joins as a collection brand with 26 hotels, lodges and reserves and more than 1,300 rooms in Mauritius, Namibia, Nigeria, South Africa, Tanzania, Uganda and Zimbabwe. It keeps its brand, its teams and its operating approach.
Banyan puts the combined portfolio at nearly 130 hotels, resorts and reserves, more than 30 branded residences and over 140 spas and galleries, across 14 brands in 28 countries. Newmark lifts the portfolio by roughly a third.
The deal runs on management fees. Banyan calls the model asset-right, a mix of owning some properties and managing others for third-party owners. Skift's read places the enlarged group against Marriott's Protea and Radisson on the continent.
What the portfolio holds
Newmark was founded in 2007 by Neil Markovitz, whose Cape Town career dates to 1990 and includes a spell as general manager of the Victoria & Alfred Hotel. That hotel occupies a converted 1904 warehouse over Cape Town harbour and Table Mountain.
QWABI Private Game Reserve covers 11,000 hectares inside a UNESCO-designated biosphere in the Waterberg, with a Big Five safari beside regenerated farmland. Motswari Private Game Reserve marks its 50th anniversary in 2026 and has sat in the Newmark portfolio since 2013. Gorilla Heights Lodge sits on the edge of Uganda's Bwindi Impenetrable National Park. Future Found Sanctuary runs on the slopes of Table Mountain, and the group also operates in Zanzibar and Mauritius.
Banyan's African footprint
Banyan runs four hotels and four spas in Africa across Morocco, Mauritius, South Africa and Tanzania. The set includes Banyan Tree Tamouda Bay, Marrakech Riads, Angsana Heritage Collection and Ubuyu, a Banyan Tree Escape and the group's first safari lodge.
Dhawa Ouidah in Benin takes the group into West Africa. Newmark adds Namibia, Nigeria, Uganda and Zimbabwe to that map.
The group marked its 100th resort in 2025 with the opening of Mandai Rainforest Resort by Banyan Tree in Singapore.
Continuity for guests and owners
Newmark operates under its existing brand and leadership, led by Neil Markovitz and the current management team. Day-to-day operations, property branding, owner relationships and commercial arrangements hold.
Guests keep booking through Newmark's own channels, and confirmed reservations stand on their existing terms. Over time Newmark's properties will appear on Banyan's booking platforms and join withBanyan, the group's recognition programme.
“We welcome Newmark to Banyan Group with confidence in the strength of the business it has built in Africa,” said Ho Kwon Ping, founder and executive chairman of Banyan Group.
“Africa is a long-term growth market for Banyan Group,” said Eddy See, president and chief executive of Banyan Group. “Newmark brings an established management business, with experienced teams, long-standing owner relationships and strong operating capabilities that deepen our presence in the region.”
“Newmark's hotels, lodges and reserves are closely connected to the places in which they operate,” said Ho Ren Yung, deputy chief executive of Banyan Group.
The demand behind the deal
Africa took 81 million international tourist arrivals in 2025, up 8 per cent on the previous year and the strongest growth of any region, according to UN Tourism. The World Travel & Tourism Council expects the region's travel economy to grow a further 5.4 per cent in 2026.