Furthermore Banyan Tree should focus upon strengthening their partnerships and

Furthermore banyan tree should focus upon

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Furthermore, Banyan Tree should focus upon strengthening their partnerships and alliances, above all else when it comes to high-end tourist intermediaries such as travel agents. If partnerships with companies such as Abercrombie and Kent do not yet exist, they should be cultivated. The product segmentation that Banyan Tree Holdings has established is very tactical indeed and this should be monitored in terms of profitability spread and budget requirements. If necessary, with the evolution of the market the Cassia branch could be expanded and Angsana curbed if management sees that group travel for younger adults is becoming more popular. Conclusion In conclusion, this essay focused upon providing the reader with an in-depth environmental and intra-industry analysis of the hotel and hospitality industry, centralizing upon the Southeast Asian market segment in particular. Following a PEST and Porter’s 5 forces analysis we noted the key success factors that the hotel chain in question, hence Banyan Tree Holdings was in possession of. From there, we noted Banyan Tree’s main competitors, namely the Four Seasons and Shangri-La. This allowed one to establish Banyan Tree’s resources and capabilities. As for strategic recommendations, above all else Banyan Tree should focus upon building brand awareness and propagating their hotels globally though marketing. Banyan Tree’s eco-friendliness should be publicised more and
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18 their corporate social responsibility should be the cornerstone to their marketing approach. Additionally, the establishment of residences by Banyan Tree as well as potential partnerships with high-end cruise liners were also suggested. Finally, in the case of absent partnerships with established intermediaries catering to the luxury tourism market, Banyan Tree should allocate time and funds towards developing them. Word Count: 6,018
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19 Bibliography Chong, Daxx. "Banyan Tree Posts Higher Profit; Sees New Opportunities From Property Venture “ SharesInv.com." SharesInvcom RSS. -sees-new-opportunities-from-property-venture/ (accessed November 10, 2013). Costa, Marylou. "Reaching wealthy consumers demands classic luxury marketing techniques." Marketing Week (Online), February 1, 2012. (accessed November 1, 2013). Dixon, Rachel. "Q&A: Michelin stars." the Guardian. (accessed November 8, 2013). Fang, Phyllis Savage. "Banyan Tree Branches Out." Forbes. -billionaires-11-ho-kwon-ping-china-banyan-tree-branches-out.html (accessed November 10, 2013). Frumkin, Paul. "Nieporent to launch waterfront restaurant with Boca Raton Resort." Nation's Restaurant News34, no. 35 (2000): 4-6. (accessed November 2, 2013).
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