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Banyan Tree Hotels and Resorts
Transcript of Banyan Tree Hotels and Resorts
MKT 4443 Section 2 Company Description A leading, international hospitality brand that manages and develops premium resorts,
hotels and spas. From a single boutique resort in Phuket, Thailand in 1994, Banyan Tree has grown into a multi-business operator globally. Listed on the Singapore Stock Exchange since 2006, it currently has 91 hotels,
resorts and spas in 27 countries, which, by 2013, is projected to grow to
157 hotels, resorts and spas in 33 countries. Company History 1984- Laguna Resorts and Hotels (LRH), a subsidiary of Banyan Tree Hotels and Resorts, acquired over 550 acres of land on the site of an abandoned tin mine at Phuket, Thailand.
1987-LRH began marketing Laguna Phuket as destination within Phuket.
1994- Banyan Tree Phuket, the flagship resort of the group, was launched in Laguna Phuket. The resort includes the first Banyan Tree Spa and Banyan Tree Gallery.
Why Bayan Tree? The name of the place where the founder and his wife lived in Hong Kong for four years and had one of the best times in their lives Ecological wasteland the environmentally-sensitive, first Banyan Tree resort – an oasis that today, is both beautiful and true. Key Strategies Targeting the Right Market Segment Site Selection Design and Construction Management Sensitive Management of Government and Local Community Relations Targeting the Right Market Segment The luxury, premium market 84% of guests are couples in their mid-30s and 40s Romance, intimacy, to explore their inner self Coporate clients (10%) - coprate meetings and rtreats,
Site Selection "Branding is very important to your success but
it is only a part of it. Location also plays a strong
Strategic Role" - Bernold Schroder GM of Banyan Tree Maldives Is there a strong market potential for
Bayan Tree Hotels and Resorts (BTHR)? what is the competition in the vicinity -
existing resorts, room rates charged,
and occupancy rates? Can the local conditions support BTHR's operations
- operating costs and staff availability? Does it have a unique view or
direct access to a good beach? Design and Construction Management Capabilities Having all the capabilites and resources, such as hotel operators, architects, and
construction management companies, in-house Share BTHR's corporate culture
Familiar with one another Flexible, informal, and
rapid decision making Changes are implemented
immediately without contractual
concerns WHY? To open a resort built from scratch within two years
compared to the industry norm of about five years Sensitive Management of Government
And Local Community Relations Familiarize itself with local bylaws and manage
its relationship with the local government
Not using wood as a structural element in constructing its resorts Set up a free school in Phuket and procured its merchandise locally to help conserve traditional craft skills in the declining Asian cottage industries Minimize AC in public areas through
special architectural design to avoid
the use of CFC-based AC and to reduce
energy consumption They wanted something that evoked both an Asian feel and the environment Does the site appeal to Banyan Tree’s
target market as a resort destination? Examples Building and Managing the Banyan Tree Brand Centralized - About 25 staff charging the marketing and sales activities
instead of having a general manager
Marketing - Batey Advertising -> Travel magazines
Banyan Tree Experience- Recommendation by guests to their friends.
Difficulty in getting bookings.
Quality Standards - Short-term profits but long-term regret.
No. 18 in the Top 50 Asian Brands.
1994- Banyan Tree Phuket
Within 18 months- Maldives & Bintan
1997~1998- Asian financial crisis
Focus on Asia-Pacific region.
2001 and 2003- Seychelles & Nepal
Future- China, Greece, India, Korea, Mexico, Morocco, Oman, Philippines, Portugal, Thailand, and Vietnam
International Expansion China
International Expansion Korea
Club & Spa Seoul
Phuket DoublePool Villas
Phuket Spa Sanctuary
Evolving The BTHR Organization Focus on Asia region but not limited.
“Double-hatting”- way to developing the staff.
Local Adaptation- “This made guests feel
that they were paid special attention
instead of being served in a standardized format.”
Product Development and Innovation Keeping the experience “fresh” was essential.
Ideas were often exchanged among the managers
during management meetings.
Unique services in different resorts.
Launching a Second Brand June 2000- Angsana Resorts and Spa
Four-star spa resort.
The sales and marketing activities are separate from the BTHR.
Prices were 40 percent lower than the Banyan Tree spa.
New Challenges Ahead Establishing resorts outside of Asia.
Focus on “wine and food” or “spa”? (Western culture)
Regional managers vs. Fast decision making process