TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

ACCOR Takes Ownership Stake In Banyan Tree Group

Category: Hotels, Posted:09 Dec 2016 | 12:22 pm

French hospitality chain ACCOR has acquired a 5% holding in Singapore’s Banyan Tree Holdings for a reported USD17 million.

ACCOR has an option for a further 5% interest in the future.

Under the terms, the two groups will collaborate on the expansion and management of Banyan Tree projects on a global basis.

The deal comes on the heels of ACCOR’s acquisition of FRHI Holdings which includes the Fairmont, Raffles and Swissotel brands.

Banyan currently have 43 properties under multiple brands.

For those looking at the financial performance of Banyan Tree Holdings which is listed on the Singapore Stock Exchange, one clear challenge has been the high levels of debt the company carries.

Earlier this year a major restructuring of the company’s corporate set-up was undertaken and management downsized. ]

Looking at ACCOR, currently Chinese conglomerate Jin Jang International hold a 12 per cent ownership and have publically made noise about increasing the stake.

One has to look at the current spate of consolidation in the hotel sector and the factor China plays and wonder what is the end game for the ACCOR and Banyan Tree deal? .

Interestingly this week the acquisition of Carlson Hotels by China’s HNA Group finally completed despite industry speculation that the process might be derailed.

Clearly in 2016 the two banner hotel storylines around the world are the two C’s, being consolidation and China.

 

Other News

Read more

The Future of Virtual Versus In-Person Hotel Events

Category: Hotels, Posted:25 Sep 2020 | 13:48 pm C9 Hotelworks and QUO have put together a short survey we hope you will take. As we look to the future of events for the hospitality and tourism sectors, we’re curious to understand more about your expectations and appetite. How far will you be willing to travel (if at all)? What subjects will you be […]
Read more

Project Rattan Focused On Restoring Thai Craft

Category: Tourism, Posted:20 Sep 2020 | 08:52 am If you find yourself in Bangkok from now until the end of December, you should take some time and visit Australian designer Patrick Keane’s Project Rattan exhibition at River City. Project Rattan is an exhibition of furniture design featuring Thai craftsmanship and aimed at restoring local artisans to create international level products. The exhibit is […]
Read more

Condo Hotels and TPO’s Hitting Bangkok

Category: Hotels, Posted:20 Sep 2020 | 08:47 am Bangkok’s hospitality market is set rapid growth in the emergence of condo hotels and third party management operators (TPO’s). The trend is best seen with the recent launch of The Wyndham Queen Convention Centre Hotel and Residences in Bangkok operated by Kew Green Management Company Thailand. Kew Green has seven properties in the pipeline in […]