Founded in 1994 with its first resort in Phuket, Banyan Tree (BT) is a world-renowned brand of luxury hotels and resorts found in many parts of the world, with high concentration in Asia. As of March 2010, BT has received 556 awards from its 27 resorts, 67 spas, 71 retail galleries and 2 golf courses.
“As a socially responsible business, Banyan Tree was founded with the core value of driving sustainable development.
With the call to arms of embracing the environment and empowering the people, we ...view middle of the document...
BT has a vision to penetrate global markets, not just for the purpose of expansion, but also for survival and risk diversification reasons. However, their visionary CEO also recognizes the need to maintain a delicate balance so as not to dilute the brand and create and maintain the unique BT experience deliverable only through competent human resources and infrastructure.
Its core customers belong in the luxury market who can afford to pay for the unique experience that BT can offer. Their corporate social responsibility (CSR) conviction of preserving the environment appeals and draws many like-minded souls, who participate actively in their CSR initiatives while staying at the hotels and resorts.
The success of BT can be attributed to its uniquely differentiated strategies, strong visionary leadership, as well as unique internal resources and competencies which draw the hearts of many through the strong CSR message to conserve the environment, as well as provide them with a unique experience that is not easily found in other hotel and resorts.
This report aims to analyze the strategies of BT, attempt to uncover the keys to their success in the industry and make strategic recommendations for future.