French hotel giant AccorHoyels is making a $17 million investment in Singapore-based luxury hospitality group Banyan Tree Holdings.
It forms part of a strategic partnership which we see AccorHotels collaborate to develop and manage more Banyan Tree properties around the world.
Banyan Tree will also get access to AccorHotels’ distribution and sales platforms, and Le Club AccorHotels loyalty programme.
The investment will give Accor a 5% stake in Banyan Tree and the deal gives it an option to double that.
"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," said Banyan Tree executive chairman Ho Kwon Ping.
Banyan Tree currently operates 43 hotels and resorts, spas and golf courses across 28 countries.
"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," said AccorHotels CEO Sebastien Bazin.
By Anne Kao
