SINGAPORE (XOL Africa) — Banyan Group said Thursday it has acquired a majority stake in Cape Town-based Newmark Hotels & Reserves in a deal that will add 26 hotels, lodges and reserves across seven African countries to its hospitality portfolio.
The companies said the transaction is structured in phases and is expected to lead to full ownership of Newmark over time.
Newmark’s properties span Mauritius, Namibia, Nigeria, South Africa, Tanzania, Uganda and Zimbabwe. The company will join Banyan Group as a collection brand while retaining its existing name, management team and local operating approach.
The deal will expand Banyan Group’s portfolio to nearly 130 hotels, resorts and reserves, more than 30 branded residences and more than 140 spas and galleries across 14 hospitality and residential brands in 28 countries, according to the company.
“We welcome Newmark to Banyan Group with confidence in the strength of the business it has built in Africa and the entrepreneurial spirit that has shaped it,” said Ho Kwon Ping, founder and executive chairman of Banyan Group. “We see in Newmark many of the qualities that shaped Banyan Group from the beginning: independence of thought, a long-term view and the conviction to build something distinctive.”
Neil Markovitz, Newmark’s founder and chief executive officer, said the partnership would give the company greater international reach while allowing it to preserve its existing operating model.
“Joining Banyan Group gives us greater international reach and access to a wider network of expertise while retaining what has made Newmark successful,” Markovitz said. “It also gives us greater scope to introduce travellers around the world to the destinations and experiences across our portfolio.”
Founded in 2007, Newmark operates a portfolio that includes city and heritage hotels, nature lodges, island retreats and private game reserves.
Its properties include QWABI Private Game Reserve in South Africa’s Waterberg region, Motswari Private Game Reserve in the Greater Kruger ecosystem and Gorilla Heights Lodge near Uganda’s Bwindi Impenetrable National Park. Its portfolio also includes properties in Cape Town, Mauritius and Zanzibar.
Banyan Group said the acquisition strengthens its presence in nature-based and wildlife hospitality while expanding its African operations into Namibia, Nigeria, Uganda and Zimbabwe.
“Africa is a long-term growth market for Banyan Group,” said Eddy See, the company’s president and chief executive officer. “Newmark brings an established management business, long-standing owner relationships and strong operating capabilities that deepen our presence in the region and strengthen our asset-right model.”
Banyan Group already operates four hotels and four spas in Morocco, Mauritius, South Africa and Tanzania. It is also preparing to enter West Africa with the planned Dhawa Ouidah property in Benin.
The company said Newmark will continue to operate under its existing brand and leadership, with day-to-day operations, property branding and owner relationships remaining unchanged.
“Newmark’s hotels, lodges and reserves are closely connected to the places in which they operate,” said Ho Ren Yung, deputy chief executive officer of Banyan Group. “We want to preserve that local approach, particularly in nature-based and wildlife hospitality, where culture, communities and the natural environment are integral to the guest experience.”
The companies said Newmark will retain its existing website and direct booking channels, and confirmed reservations will continue under their existing terms.
Over time, Newmark properties are expected to become available through Banyan Group’s booking platforms and participate in the group’s withBanyan guest recognition program.
The transaction comes as international tourism to Africa continues to grow. According to the companies, Africa recorded 81 million international tourist arrivals in 2025, an 8% increase from the previous year, citing data from UN Tourism.
Moelis & Company UK LLP advised Newmark as exclusive financial adviser, while White & Case LLP provided legal counsel. WongPartnership LLP served as legal counsel to Banyan Group.
Banyan Group is listed on the Singapore Exchange under the ticker B58 and is headquartered in Singapore. Newmark is headquartered in Cape Town.
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