Banyan Tree and AccorHotels Form Strategic Partnership

December 14, 2016 Meena Ramakrishnan

Banyan Tree and AccorHotels

Banyan Tree Holdings has entered into a heads of agreement with AccorHotels, which will develop and manage 43 Banyan Tree branded resorts and hotels located in 28 countries. Under a long-term partnership, AccorHotels will invest $16.7 million in Banyan Tree, giving it a 5 percent stake in the Singapore-based hotel group, with the option to purchase an additional 5 percent.

“This agreement is not only transformational for Banyan Tree, but is also an innovation for the global hospitality industry,” said Ho Kwon Ping, executive chairman of Banyan Tree. “Our strategic alliance with AccorHotels allows us to remain an independent company, enabling us to continue securing hotel management agreements on our own and yet accelerating Banyan Tree’s speed and scope of expansion, but with AccorHotels 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.”

Guests of Banyan Tree and Angsana resorts will also have access to AccorHotels’ global reservations and sales network, as well as its loyalty programme Le Club AccorHotels. The international hospitality group owns properties across Asia Pacific and Latin America, including China, Thailand, Mexico and United Arab Emirates. Banyan Tree Holdings also operates Cassia, a holiday apartment concept.

Earlier this year AccorHotels purchased FRHI holdings, the parent company of the Fairmont, Swissotel and Raffles brands. The three FRHI brands consist of 115 hotels and resorts and 43,000 guest rooms, as well as an additional 40 hotels in development that will provide 13,000 rooms. AccorHotels has nearly 500 properties throughout the world.

The post Banyan Tree and AccorHotels Form Strategic Partnership appeared first on Smart Meetings.

Previous Article
Las Vegas, Austin and Orlando Earn Top Marks in J.D. Power Destination Study
Las Vegas, Austin and Orlando Earn Top Marks in J.D. Power Destination Study

Tom Noonan, president and CEO of Austin Convention & Visitors Bureau, accepted the J.D. Power and Associate...

Next Article
Southwest Aims for Fully Wi-Fi Equipped Fleet
Southwest Aims for Fully Wi-Fi Equipped Fleet

These days, as fares get lower across the board, in-flight Wi-Fi and entertainment are becoming increasingl...