Singapore, 8 December 2016 - Banyan Tree Holdings today announces that it has entered into a heads of agreement with Accor Hotels. Under a long-term partnership, both parties intend to collaborate to develop and manage BanyanTree branded hotels around the world. Banyan Tree will also have access to Accor Hotels’ global reservations and sales network, as well as its loyalty programme Le Club Accor Hotels.
Accor Hotels will invest an initial SGD 24million (c. 16 million) in Banyan Treeand both parties will then co-develop the brands owned by Banyan Tree around the world. This investment will be made through a mandatory convertibledebenture that at conversion will give AccorHotels an approximately 5% stake inBanyan Tree. Accor Hotels has an option to purchase an additional approximately 5% stake.
Ho Kwon Ping, Executive Chairman of Banyan Tree , said:
“ This agreement is not only transformational for Banyan Tree, but is also an innovation for the global hospitality industry. With the current consolidation of mega hotel companies, smaller but also global players – many family-controlled – are also seeking strategic alliances with the global giants. Our strategic alliance with Accor Hotels allows us to remain an independent company, enabling us to continue securing hotel management agreements on our own and yet accelerating BanyanTree's speed and scope of expansion but with Accor Hotels helping us to grow our brands around the world. We believe this agreement will propel our brands rapidly to global reach and range and strengthen our ability to embrace change and innovation in the hospitality industry with a strong global partner. We are excited and committed to this partnership . "
雅高酒店集团董事长兼首席执行官 塞巴斯蒂安·巴赞先生（Sebastien Bazin）说道：
Sebastien Bazin, CEO and Chairman of AccorHotels, said:
“ Our collaboration with Banyan Tree is a great opportunity to complement our business proposition to owners with iconic brands, while always better servicing our Guests. Banyan Tree Holdings has created key leading positions across Asia with luxury resorts, one of the fastest growing segments in the industry. We will bring scale to the network through our ability to develop and manage hotels under the Banyan Tree brands globally,hence strengthening our leadership in the luxury hotel space. We are confident that our investment will create incremental value for our shareholders .”