Group Project Report - Banyan Tree.edited.docx - 1 Service...

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1 Service Marketing: Banyan Tree Hotels, Resorts, Spa and Retails Names Institution Course Professor Date
2 Abstract This report has found that Banyan Tree Company has thrived in various parts of the world following its excellent hotel and resort services. However, since its launch, it has consistently faced stiff competition from well-established brands like Ritz-Carlton etc.; thus, the company has to differentiate itself from other companies to position its brand well in the market. The report, therefore, recommends that implementing a Public Relations program is the best action to help enhance Banyan Tree Company's brand positioning in the market. Figure 1: Banyan Company Logo Overview and Challenges
3 The gap in the hotel industry initiated the establishment of Banyan Company during the 1990s, following the rapid growth of the tourism sector. It was meant to address the need for tourists to relax within ecologically friendly, culturally sensitive, customer-centred and green- sentient habitats ( Wirtz & Lovelock, 2018, pp. 521). Notably, with time, the Banyan Tree has developed to be amongst the top hotels that many international tourists exploring Asia and the domestic tourists who are willing and craving to experience serene, friendly and romantic holidays either as a group or as individuals. Banyan Tree Hotels and Resorts have been the best choice for tourists wanting to reside at a deluxe but affordable hotel following the fact that Banyan has built a strong brand name in the hotel industry. Presently, the Banyan Tree brand has grown to a global brand with branches in Europe and Seychelles, amongst other continents. According to Lovelock & Wirtz (2004), Banyan Tree is ranked among the leading luxury resorts in Asia since it has overwhelmed many big hotel brands, which have taken many years to establish branches as Banyan did. Despite that the Banyan Tree Company brand has thrived in the hospitality industry, it faces several challenges especially associated with Banyan's marketing strategies both locally and internationally; however, since Banyan is well established in Asia, these challenges are mainly attributed to international marketing. First, Banyan Tree may face competition following their decision to expand their hotel and resort services to other countries or continents. This is because other renowned international brands are greatly experienced in the industry. They have established a strong customer base, which has posed stiff competition and made it difficult for Banyan Company to attract customers ( Wirtz & Lovelock, 2018, pp. 521). Banyan’s competitors include The Ritz-Carlton (an American Company), Mandarin Oriental (a Chinese company headquartered in Hong Kong), Four Seasons Hotels and Fairmont (both headquartered in
4 Toronto, Canada), Marriott (headquartered in Bethesda, Maryland, United States) etc. A second

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