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

Global Experiential Hospitality Brand Selina Debuts In Southeast Asia

Category: Hotels, Posted:12 Aug 2022 | 18:12 pm One of the fastest-growing hospitality brands in the world Selina, has opened their first Southeast Asia property in Phuket, Thailand. The 52-key Selina Serenity Rawai Phuket is a conversion of what was previously an independently managed property, and prior to that had been operated by Outrigger Hotels and Resorts. Selina’s DNA is based on local […]
Read more

BDMS To Open Medical Wellness Facility At Laguna Phuket

Category: Real estate, Posted:12 Aug 2022 | 10:27 am The Greater Cherngtalay area in Phuket is set to see a new international-standard medical and wellness facility from leading Thai group BDMS (Bangkok Dusit Medical Services). Located in the middle of the integrated resort development of Laguna Phuket at Canal Village, the offering is targeted at both a growing local and expatriate population and overseas […]
Read more

Explorar Brand Spurs Expansion With Koh Samui and Koh Pha-ngan Acquisitions

Category: Hotels, Posted:19 Jun 2022 | 09:22 am Boutique hotel group Pavilion’s experience-focused spin-off Explorar Hotels and Resorts has expanded its growing footprint by acquiring a 125-key resort in Bophut, Koh Samui, and 75-key property in Koh Pha-ngan. Both resorts were previously owned and operated under ‘The Coast’ tagline. The two will be conversions and join an upcoming resort in El Nido, Palawan. […]
SiaJai logo

Thailand's Leading Homecare Marketplace