We unequivocally reject Al Areen Holding Co accusations, which are baseless and untrue.

This statement is to be attributed to Mr Ho KwonPing, Executive Chairman, Banyan Tree Holdings Limited.

As an international hotel company with over 550 international awards, we have the responsibility to protect our most valuable asset - our brand. Contrary to allegations of poor management, Banyan Tree Al Areen has consistently ranked number 1 out of all 73 hotels in Bahrain by TripAdvisor, the world's largest international online rating forum.

Since it opened in 2007, Banyan Tree Al Areen has received 13 awards, including Best Spa Resort in the World - all conferred by internationally lauded travel publications. We were also recently nominated by World Travel Awards for Bahrain's Leading Spa Resort, Middle East's Leading Desert Resort and Middle East's Leading New Hotel.

These are no small achievements given the difficult operating conditions facing the hotel since its opening.

Having arrived at a settlement agreement over a portion of the disputed debt due from Al Areen to us, we expect that at least the settlement agreement would be acted on in good faith by Al Areen. We regret that the continuing non-compliance of Al Areen to fulfill its contractual obligations under the settlement agreement leaves us no choice but to seek redress under the laws of Bahrain.