Banyan Tree Holdings Limited (“Banyan Tree” or the “Group”) is a leading manager and developer of premium resorts, hotels and spas in the Asia Pacific, with 25 resorts and hotels, 68 spas, 65 retail galleries, and two golf courses.
Target Market • Positioned in the niche resorts, hotels and spas market segments, Banyan Tree brand is associated with prestige and luxury. Targeted primarily at highly affluent travellers seeking a luxury retreat with a focus on romance, intimacy and rejuvenation, the Banyan Tree brand was ranked seventh in the 2001 Asia Inc Consumer “Asia’s Top 20 Brands” Survey and identified by Asian Brand News 1 Brand with Greatest Upward Movement Potential in 1999.
In 2007, Banyan Tree added resorts to its key regions of Indian Ocean and North Africa. Banyan Tree Madivaru opened in the Maldives in May and the Angsana Riads Collection Morocco in Marrakech in December. Already redefining the luxury accommodation experience in Morocco in a short span of time, Angsana will be adding more riads in the country in 2008. The growth in terms of geographical reach shows that it's a global wide company.
Competitive Advantages • Banyan Tree’s strong brand recognition allows it to command prices at the high end of the market for the resorts, hotels and spas that it manage. Each of its brands and product lines targets distinct market segments, increasing its overall customer base.
Banyan Tree’s integrated capabilities – including in-house design, project management and centralised marketing – enable it to create new product offerings, reduce the time needed to launch them, and manage costs effectively. Centralised marketing also allows it to target unaffected markets when external catastrophes affect one or more of its markets. • It has an experienced, qualified management team whose core members have been instrumental in its development since inception. The team possesses the appropriate mix of multi-disciplinary expertise and experience.
Brand • In a globalized market economy, the strength of a brand is growing significantly. Consumers' attitude and behavior to the brand can even determines the success or failure of an enterprise.
Dislike other Asian brands, Ho Kwon Ping, Executive Chairman of Banyan Tree, believes the success of Banyan Tree is based on its understanding of the western consumer market. Ho Kwon Ping's personal growth experience gave him an opportunity to understand the eastern and western cultures at the same time, but it is not the key to the success of Banyan Tree, Ho Kwon Ping said "the 21st century will be Asia's century, the largest consumer groups in the future will be Asian , of which the leading role is China and India. So Asians are facing a great opportunity, they can draw on their own cultural perceptions, to create a better culture rooted in Asian, both in the global market’s Global brand.” With this factor taken into account, Banyan Tree begin to expan the Asia-Pacific region in the SPA resort hotels to a global scale.
Brand Equity • Brand Equity is the market efficiency only the brand can generate. It is an idea developed from an economic point of view. Brand Equity is the value beyond the tangible assets such as the production of goods, includes brand loyalty, brand awareness, brand recognition (that is, the quality in consumers' mind),brand imagination and other specific assets.
Advertising is one of the most important activity. • In order to build brand equity further, enterprise can use advertising, it can strengthen brand awareness in consumers' mind and enhance brand awareness.
The substance behind the brand is your quality and service. • Therefore, the most fundamental thing to increase brand equity is enhance the quality of service, you should do your best to offer the greatest service to your guests who live in your hotel.
Every coin has two sides. Although the ads cost much, it is very important and can raise brand awareness effectively. To improve the quality of service is a realistic demand, but it is very difficult to implement in fact.
Second Brand • I don't think launch a second brand is a good idea. It may weaken the core competitiveness of the company, I think. And it would confuse consumers, and very few of tem will know whether that brand belongs to you. So I disagree the choice to launch a second brand.
Future Prospects • Tree Sanya wants to build a globally recognized property which, by inspiring exceptional experiences among our guests, instilling pride and integrity in our associates and enhancing both the physical and human environment. Banyan tree benefits because the sale of tourism knowledge • helps to augment the country's export economy. Such export services include hotel management skills, staff training, consultancy, setting up and managing national air carriers and airports, implementation of tourism master plans and the development of attractions.
Regional connectivities, however, are not always smooth sailing.One tension arises with the notion of tourism as neo-colonialism.Another tension emerges with an increase in banyan tree tourists travelling within the region.
I think the government's encouragement was in opening up the doors, clearing up the land issue, the infrastructure issue. These are very huge issues which the private sector can never do on its own...Bintan is a classic case where we will never go in on our own if the government wasn't there,otherwise I don't think any private sector company would dare go in.While past tourism policies focused on the development of local attractions, hotels and infrastructure, the new millennium with its emphasis on a 'borderless world' and 'shrinking earth' demands a 'transborder approach' towards tourism development.
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