Industry Update
Press Release 9 December 2016

Banyan Tree and AccorHotels announce strategic partnership

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Banyan Tree Holdings today announces that it has entered into a heads of agreement 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.

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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 give AccorHotels an approximately 5% stake in Banyan Tree. AccorHotels has an option to purchase an additional approximately 5% stake.

Ho Kwon Ping, Executive Chairman of Banyan Tree, said: "This agreement is not only transformational for Banyan Tree, but is also an innovation for the global hospitality industry. With the current consolidation of mega hotel companies, smaller but also global players – many family-controlled – are also seeking strategic alliances with the global giants. 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. We believe this agreement will propel our brands rapidly to global reach and range and strengthen our ability to embrace change and innovation in the hospitality industry with a strong global partner. We are excited and committed to this partnership."

Sebastien Bazin, CEO and Chairman of AccorHotels, said: "Our collaboration with Banyan Tree is a great opportunity to complement our business proposition to owners with iconic brands, while always better servicing our guests. 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. We are confident that our investment will create incremental value for our shareholders."

ABOUT BANYAN TREE HOLDINGS LIMITED

Banyan Tree Holdings Limited ("Banyan Tree" or the "Group") is a leading international operator and developer of premium resorts, hotels, residences and spas, with 43 hotels and resorts, 64 spas, 77 retail galleries, and three golf courses in 28 countries. Each resort typically has between 75 to 300 rooms and commands room rates at the higher end of each property's particular market.
The Group's primary business is centered on four brands: the award-winning Banyan Tree and Angsana, as well as newly established Cassia and Dhawa. Banyan Tree also operates the leading integrated resort in Thailand – Laguna Phuket – through the Group's subsidiary, Laguna Resorts & Hotels Public Company Limited. Two other integrated resorts – Laguna Bintan in Indonesia and Laguna Lăng Cô in Central Vietnam – complete the status of the Group as the leading operator of integrated resorts in Asia.
As a leading operator of spas in Asia, Banyan Tree's spas are one of the key features in their resorts and hotels. Its retail arm Banyan Tree Gallery complements and reinforces the branding of the resort, hotel and spa operations.
Since the launch of the first Banyan Tree resort, Banyan Tree Phuket, in 1994, Banyan Tree has received over 1,600 awards and accolades for the resorts, hotels and spas that the Group manages. The Group has also received recognition for its commitment to environmental protection and emphasis on corporate social responsibility. In addition to its currently operating hotels, resorts, spas and golf courses, the Group currently has 15 hotels and resorts under construction, and another 22 under development.
www.banyantree.com www.angsana.comwww.cassia.com www.dhawa.com

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Banyan Tree

Banyan Tree Holdings Limited (“Banyan Tree” or the “Group”) is a leading international operator and developer of premium resorts, hotels, residences and spas, with 47 hotels and resorts, 63 spas, 75 retail galleries, and three golf courses in 23 countries as at 31 December 2018.
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ABOUT ACCOR

Accor is a world-leading augmented hospitality group offering unique and meaningful experiences in more than 4,800 hotels, resorts, and residences across 100 countries. With an unrivalled portfolio of brands from luxury to economy, Accor has been providing hospitality savoir-faire for more than 50 years.

Beyond accommodations, Accor enables new ways to live, work, and play with Food & Beverage, nightlife, wellbeing, and coworking brands. To drive business performance, Accor's portfolio of business accelerators amplify hospitality distribution, operations, and experience. Guests have access to one of the world's most attractive hotel loyalty programs—Le Club AccorHotels.

Accor is deeply committed to sustainable value creation, and plays an active role in giving back to planet and community. Planet 21 - Acting Here endeavours to act for positive hospitality, while Accor Solidarity, the endowment fund, empowers disadvantaged groups through professional training and access to employment.

Accor SA is publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACRFY) in the United States. For more information visit accor.com. Or become a fan and follow us on Twitter and Facebook.

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