Banyan Resorts Business Strategy
Business Strategies, Banyan Tree Hotels and Resorts
Business strategies involve decisions made to ensure that a business attains its objectives and goals (David, 2011, p. 6). They also enable a company to maintain a competitive niche in the market by ensuring they are in such a position to remain competitive in the market. In the international hospitality industry, the competition is steep and therefore, strategies employed have to ensure the business remains competitive. In this paper, we focus on strategies employed by the Banyan Tree and Angsana resorts and spa businesses.
The Banyan Tree hotels and resorts started in 1992 with Ho Kwon Ping as CEO, Clair Chiang, the wife, as the senior vice president of the financing and merchandising arm and the brother Ho Kwon Cjan as the head architect. The company endeavored to free itself of cost competition previously define competition in the industry. They envisioned to provide a global brand that thrived on the corporate social responsibility (CSR) and uniqueness in the product as well as its delivery. The primary concern, however was the availability of infrastructure, labor as well as dilution of the brand as it spread globally.
The Banyan Tree hotels and resorts brand endeavored to provide an exclusive experience that was unique. The integration of a relaxing, culturally rich and romantic feel to the setting offered was its signature in all its resorts and hotels. The feel was both in spa setting as well as the resorts and hotels which majored in a small number of rooms so as to ensure holistic experience by the client. The Angsana resort and spa, a sister to Banyan Tree, was founded in 2000 tapping at the younger generation market segment and competing in a more mainstream setting.
To achieve the goal of making the Banyan Tree hotel and resort and Angsana spa and resort a global brand they came up with strategies in their business. These strategies include the CSR philosophy as well as investing in brand enhancement among others. The strategies have sooner become the signature in all the resorts hotels and spas as well as any other businesses under its management.