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Banyan Tree Holdings has entered into aheads of agreement with AccorHotels!

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Singapore, 8 December 2016 - 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.
AccorHotels will invest an initial SGD 24 million (c. €16 million) in 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.rwer.PNG

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