When you think of luxury resorts, an abandoned tin mine is probably the last place you’d imagine building one.

In the 1980s, Phuket, Thailand, was famous for its pristine beaches. But not in Bang Tao Bay.

There, the land was polluted and lifeless. It was a wasteland that was unusable after years of mining.

But what Ho Kwon Ping and Claire Chiang saw was possibility. They saw a chance to create a new kind of travel experience where luxury and sustainability could coexist.

This is the story of Banyan Tree, a luxury hospitality brand with 70+ resorts in 23 countries.

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🎰Taking a gamble

Ho Kwon Ping never planned to be a hotel mogul. He was a young journalist and activist at Stanford University.

But then he got suspended when he protested with the Black Students Union against William Shockley, a Nobel Prize winner with eugenic views.

Later, he was detained under Singapore’s Internal Security Act in 1977 for writing politically sensitive articles.

During his two months in jail, he had time to think. He realized he wasn’t meant to be a political revolutionary but still wanted to make an impact.

Then his father had a stroke so Ho stepped in to run the family business. But something was missing. He didn’t just want to run factories—he wanted to build a brand that mattered.

In 1984, Ho and his wife, Claire Chiang, were on vacation in Phuket, Thailand.

They came across a beautiful piece of land in Bang Tao Bay and they purchased it. They were surprised that it was cheap.

But that’s when they discovered that it was a former tin mine. It was so toxic that nothing could grow there. Even the local fishermen warned them that nothing would ever live here.

Most people would have walked away. But Ho and Chiang saw potential.

They decided to work with scientists to restore the land, planting thousands of casuarina trees and improving the soil.

They built their first project, Laguna Phuket, in 1987 as an integrated resort project.

But one last piece of land had no beach, and nobody wanted to manage it.

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🏝️ No beach? No problem

And that’s when inspiration struck.

Ho and Claire decided to launch their own brand.

If they couldn’t offer beachfront resorts, they would introduce something unheard of: private pool villas in every room instead of standard rooms.

Banyan Tree Phuket opened in 1994, introducing the “all-pool villa” concept that would become a signature of luxury travel worldwide.

But the doubts didn’t stop there.

Ho’s next idea was an Asian-inspired spa experience. Many industry experts laughed at this.

European spas focused on clinical treatments, but Ho wanted something more holistic and sensorial.

Instead of white coats and sterile rooms, Banyan Tree spa therapists would walk barefoot. This was a sign of respect in Asian culture.

The staff would dress in traditional Asian attire, and use local healing traditions.

Ho’s gamble paid off. Banyan Tree’s tropical spa concept became an industry disruptor, setting new global standards.

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🌊 Making waves

With one successful resort, Ho and Chiang could have played it safe. But instead, they doubled down.

They expanded beyond Phuket, opening resorts in places many considered too remote or underdeveloped. These include Bali, the Maldives, Morocco, Seychelles, and Mexico.

Yet, the journey wasn’t smooth.

Banyan Tree faced multiple crises that tested its resilience.

The financial crises in 2001 and 2009 and the SARS outbreak in 2003 severely impacted travel and tourism.

In 2004, the Indian Ocean tsunami struck and affected nine of the 20 resorts operated by Banyan Tree at the time, severely damaging their flagship Phuket properties.

But rather than just fix what was lost, they saw an opportunity to do more. They decided to make sustainability a core part of their business.

They launched the first resort‑based marine lab in the Maldives. Here they host visiting experts to help raise awareness of the importance of marine conservation.

And in 2007, they opened a conservation lab in Bintan dedicated to protecting biodiversity.

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📉 Betting on China

By the 2010s, Banyan Tree was no longer a niche player – it was a global brand. And Ho’s next goal was China.

With China’s rising middle class, domestic tourism was on the rise. Wealthy Chinese travelers now made up 70% of Banyan Tree’s China bookings.

To fund his bold plan, he raised $166M for the Banyan Tree China Hospitality Fund, convincing investors to put in $1.5M each.

He opened 20 new resorts in Huangshan, Guilin, and other scenic spots, bringing Banyan Tree’s total to 27 China resorts in just three years.

Some doubted Banyan Tree’s ability to stand out in China’s crowded hospitality sector. After all, massive players like China Vanke and Evergrande dominated the space.

But Hos believed in the unique branding experience of Banyan Tree.

Seeing China’s real estate boom, Ho launched Banyan Tree-branded homes. The homes weren't just luxury residences; they were integrated resort-style residences branded as "Banyan Tree Residences," tied directly to the hotel and resort experience.

They targeted wealthy buyers looking for exclusive, resort-like living.

And instead of major cities, he built them in suburban areas like Chengdu, where land was cheaper and growth potential was high.

But there were risks. By 2013, China’s government tightened real estate regulations.

And in 2015, China’s property market crashed.

Several hotel owners and property developers defaulted on management fees and partnerships, leaving Banyan Tree with significant debts and financial strain.

Ho had to cut 160 jobs across Singapore, Bangkok, Phuket, and Shanghai.

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😎 The suite spot

The China expansion may not have gone as planned, but Banyan Tree wasn’t about to slow down.

Instead of relying too heavily on a single market, they diversified.

They recognized that today’s travelers had different needs, budgets, and lifestyles. So they introduced a multi-brand strategy to appeal to a wider audience, launched over several years:

Angsana – Family-friendly resorts with a younger, energetic feel

Cassia – Stylish serviced apartments for long-stay travelers

Dhawa – Hotel for the millennials and design-conscious travelers

Folio & Homm – Affordable urban boutique hotels

They also became the first Asian hotel brand to enter Cuba.

Their entry into Cuba and Latin America was a strategic move to reduce dependence on Asian markets, especially as China’s economy slowed.

From here nothing could stop them. Even in 2020, when the pandemic shut down global travel and left hotels empty.

Each time, Banyan Tree adapted. While others saw obstacles, they saw opportunity.

In Bali, they introduced the "no doors, no walls" concept, blending resorts seamlessly into the jungle.

In Japan, they embraced minimalist elegance with Garrya Kyoto. “Garrya” is their newer lifestyle brand, which was created for urban travelers.

In 2021, they even expanded to Greece! They transformed a Corfu hilltop into a luxurious resort with a panoramic view of the Ionian Sea.

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🌳 Growing for the future

Three decades later, Banyan Tree is no longer just a resort chain. It’s an experience of sustainability and cultural immersion.

They’ve planted over 500,000 trees globally.

Their Banyan Tree Global Foundation supports local artisans, communities, and conservation projects.

Their Stay for Good initiative lets guests contribute to sustainability projects with every visit.

Today, Banyan Tree has over 70 hotels in 23 countries.

It’s one of the few independent hospitality brands competing with big hotel chains.

Yet, even as it expands, Banyan Tree remains a family-led company.

Their daughter, Ho Ren Yung is now deputy CEO of Banyan Group while their eldest son Ho Ren Hua serves as executive director and the CEO of Tai Wah, their sister company, and their youngest son Ho Ren Chun serves as Banyan Tree’s Director of Corporate Development.

Banyan Tree didn't just build resorts. They redefined what luxury travel could mean.

By seeing potential where others may have only seen problems, Ho Kwon Ping and Claire Chiang transformed a toxic wasteland into a global icon of sustainability, cultural authenticity, and luxury.

They didn’t merely adapt to changing traveler demands—they anticipated them.

From pioneering the concept of private pool villas and holistic Asian spas to embracing sustainability long before it became mainstream, Banyan Tree consistently created experiences travelers didn’t even realize they desired.

Today, as Banyan Tree continues its global expansion, it remains driven by innovation, authenticity, and a deep respect for local cultures and the environment.

Through challenges and crises, they've proven that real luxury isn't just following trends—it's about creating them.