The Banyan Resort originally consisted of six homes that were constructed as private residences during the mid-1800's. The individual owners of these properties decided to combine their interests in the early 1980's and convert them into "The Banyan Guest House". The guest house quickly became a popular place to stay. However, back in those days, Key West had two distinct tourist seasons: "In" and "Off" season as referred to by the local residents. The business at The Banyan Guest House thrived during the "In" season (December - April) months but was finding it very difficult to make ends meet during extremely slow "Off" season (May - November) months. A new concept of "Timesharing" was emerging in the U.S. at that time and gaining popularity. That concept proved irresistible to the owners and "The Banyan Resort" was born. Inventory quickly sold out and additional homes were erected in the late 1980's.