Accor to develop high-end luxury resorts with Banyan Tree
Paris – 8 December 2016
Banyan Tree Holdings is partnering with AccorHotels. Under a long-term partnership, 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 programme Le Club AccorHotels.
AccorHotels will invest an initial SGD 24 million (c. €16 million) in Singapore-based Banyan Tree and both parties will then co-develop the brands owned by Banyan Tree around the world. This investment will be made through a mandatory convertible debenture that at conversion will … Read More