Banyan Tree Holdings and AccorHotels have entered into a new long-term partnership, in which both parties intend to collaborate to develop and manage Banyan Tree branded hotels around the world.
Banyan Tree will also have access to AccorHotels’ global reservations and sales network, as well as its loyalty program Le Club AccorHotels.
AccorHotels will invest an initial SGD 24 million (~CAD $22 million) in Singapore-based Banyan Tree and both parties will then co-develop the brands owned by Banyan Tree around the world, the two brands said. This investment will be made through a mandatory convertible debenture that at conversion will give AccorHotels an approximately five per cent stake in Banyan Tree. AccorHotels has an option to purchase an additional approximately five per cent stake.