Luxury resorts operator Banyan Tree Holdings is branching into China's north-western Gansu province.
It has signed a Memorandum of Understanding with the Dunhuang Government to develop and operate a resort at Gansu's Dunhuang county. Banyan Tree Dunhuang is the latest addition to the group's growing portfolio of 15 resorts and city hotels across China.
This includes Banyan Tree Lijiang and Banyan Tree Ringha resorts in Yunnan province.
Dunhuang county is famous for its endless sand dunes and beautiful desert scenery and now attracts thousands of tourists from around the world.
Banyan Tree Dunhuang spans more than 31 hectares of virgin land near the Mogao Caves, which is listed as a UNESCO World Heritage Site.
The initial phase of the development will comprise two resorts under the Banyan Tree and Angsana brands.
Later phases will see the addition of up to three more resorts.
The development is slated for completion in 2011.
These new developments are not expected to have any material financial impact on the group's earnings and its net tangible assets for 2008. -CNA/vm
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