French hospitality giant, Accor Hotels and Singapore’s Banyan Tree Holdings have entered into a long term partnership. Both brands have announced collaboration on the development and management of Banyan Tree hotels around the world. As a result of this partnership Banyan Tree hotels will also have access to Accor’s global reservation and sales network and Accor’s loyalty program, Le Club Accor.
Accor has committed to an initial investment of 16million Euros for an approximately 5% stake in Banyan Tree with an option to purchase another 5% holding at a later stage in the future.
Banyan Tree Patrons will now have access to Loyalty Program
Banyan Tree currently operates 30 hotels and resorts and 70 luxury spas under the 4 brands namely, Banyan Tree, Angsana, Cassia and Dhawa. The properties are mainly high end and spread across 28 countries primarily focused in Asia. However the group so far has not introduced any loyalty program. While the details of how one can earn and burn Le Club Accor points on stays with Banyan Tree is yet to unfold, this alliance with Accor hotels will introduce visibility andloyalty to the Banyan Tree brand group. In return attract travelers who like to get a return on every dollar spent on their stay.
Accor Hotels will get to Increase it’s Footprint in the Luxury Category
Accor’s current portfolio consists of multiple luxury, mid scale and budget brands. While the group has over 4,000 hotels across 95 countries, the footprint in Asia currently remains limited with 600 hotels across 17 countries. Moreover out of the 600 hotels only about 55 properties fall in the luxury portfolio, like the Sofitel and Fairmont. Taking the Banyan Tree brand under its wings will not only increase Accor’s footprint in Asia but also give the group access to a wider network of Banyan Tree’s luxury hotels and resorts.
With the current trend of mega hotel companies merger like the Starwood and the Marriott, regional players are proactively seeking strategic alliances with global giants to share a piece of customer loyalty. Just this past week Taj Hotels and Shangri-La also announced a new loyalty program collaboration where members can use their status to earn and burn points across Taj’s InnerCircle and Shanri-la’s Golden Circle loyalty programs.
What are your thoughts about this alliance between Accor and Banyan Tree? Share with us your stay experience at Banyan Tree hotels and resorts ?