Banyan Tree's Ho Kwon Ping on Asian pride and venturing into 'budget' travel
Ho Kwon Ping is hands one of Singapore's most recognisable entrepreneurs, the confront of an honor-winning hospitality empire that comprises 49 hotels and resorts, 64 spas, 76 retail galleries, and three golf courses in 23 countries.
Late terminal yr, the group announced the evolution of 26 new hotels. This figure has since jumped to 34 at last count. "It'south irresolute every mean solar day," remarked Ho, speaking to CNA Luxury on the occasion of Banyan Tree's 25th anniversary.
This sudden growth spurt, he elaborated, can be attributed to ii principal factors. The starting time was the conclusion to exist a "multi-branded hotel management visitor" and grow the company across the Banyan Tree brand.
The second: The boom in Asian tourism – particularly Chinese tourism – in recent years.
THE 'AIRASIA Miracle'
"We've also seen tourism in Southeast Asia – Vietnam, Cambodia, Laos, the Philippines and Indonesia – take off due to the rise of the younger eye form," Ho observed.
"I like to call it the 'AirAsia Phenomenon'," he says, describing a breed of consumers known to pair high street manner with designer brands – and fly budget.
"They may wear Zara [clothes] and carry a Chanel handbag and they would merely get to Starbucks for their coffee. And they would wing AirAsia but eat at Michelin-starred restaurants," he explained.
"And so, while they may want to salve their money for other things, they all the same want to stay somewhere that's design-focused. I think there's room for growth in that segment in Asia, and now nosotros have brands that fit that very well," he said, referring to Cassia and Dhawa.
The two brands debuted in 2015 and 2016 respectively. With creativity and fun at the centre of their value propositions, they targeted younger, pattern-savvy travellers.
READ> 6 hotspots to cheque out in Milan, Italian republic's design and fashion uppercase
NEW (DEMOCRATIC) BRANDS COMING INTO BLOOM
Ho'south ambitions to bookend the hospitality market is set to abound with the planting of three new brands – which volition not be named later trees.
"Naming the offset make Banyan Tree was accidental," said Ho. "And then, we wanted to go along it alphabetical and so we came upwardly with Angsana for the next ane and they're all symbolic."
Angsana, for example, evokes a sense of adventure with its slogan 'Sensing the moment', because the flowers of the angsana tree bloom unexpectedly.
"And so we have A, B, C and D, and soon we will have E, F and Thousand. And I'g running out of names of copse to name them," he joked.
Intended to cater to specific segments of the hotel industry, the iii new brands will also assistance facilitate more than seamless collaboration with property developers looking for a complete portfolio of hospitality products at various price points.
"Nosotros've found that there are a few more positions in the marketplace we haven't filled yet," noted Ho.
While he tin't disclose details at this stage, Ho does hint that the new brands volition tilt towards the economical (read: upkeep) end of the scale.
"They may not be the most expensive merely they volition even so exist design-oriented, best in class, and focus on memorable invitee experiences. Those are the common themes that link all our brands together," he shared.
How is he going attain this with a budget hotel, though?
"That's the very interesting challenge we accept. It's fun to do luxury but doing something really pattern-focused which has to be inexpensive? The argument is that you can exercise that but it'southward not easy," he said.
THE RISE OF 'RAINBOW TOURISM' AND ASIAN PRIDE
The future of tourism and hospitality, Ho believes, is going to await a lot like a rainbow – meaning more than variety.
"In the past, information technology has always been 'white' tourism, flowing in one management," he noted. "But at present, we're seeing an explosion of 'rainbow tourism' – you've got yellow, pink, black and brown – considering of the change in geographical wealth. And this is happening not just in terms of guests but human talent, too."
While he is quick to point out that he is non anti-Western, the collection of brands under the Banyan Tree umbrella is a source of Asian pride for Ho.
"As an Asian who wants to see our younger talent exist able to compete with the best in the West, I'm proud to run across our Asian talent grow. I see this as a trend that'due south going to intensify and I desire to be riding that wave when it actually goes all across the world," said Ho, who'south as well founding chairman of the Singapore Direction University, a part he accepted to help nurture Asian talent.
READ> All most access: Modest group tours are the next big affair in luxury travel
ON SUCCESS, REGRETS AND LESSONS IN RESILIENCE
If you had asked Ho what his definition of success was when he start started Banyan Tree a quarter century ago, information technology would have been avoiding going bankrupt within the yr.
Today, he defines success as "a sense of relief at not screwing up so badly".
"For an entrepreneur to survive 25 years in a pretty difficult global surround is not easy. And then, at that place's a relief and gratitude that we are thriving and standing to grow," he qualified.
And if there's one thing he's learnt in this time, it's the importance of resilience.
"The tourism business, particularly luxury tourism, is one the most volatile businesses. Event gamble can destroy everything quickly. In times of state of war, epidemics and tsunamis, who needs a holiday? Who needs a holiday home?" he asked rhetorically.
The auction of holiday homes, he says, makes up nearly 50 per cent of the group's overall revenue.
On the topic of regret, he has simply one: "Information technology's that 50 hotels in 25 years is very slow progress. Information technology should've been faster. Just having reached critical mass at present, growth is really picking up."
Viewing the 25th anniversary milestone every bit an opportunity to reflect, Ho said: "In that location were a lot of mistakes we've made but we've survived a huge number of crises and we've congenital a community of thousands of people who are really proud of what they do, and the brand is getting traction everywhere. Plus, we've had fun forth the manner."
He is as well proud of the fact that the family unit business organisation is yet independent, untouched past the consolidation in the global hospitality sector that has seen many hotel names and bondage swallowed up by larger groups.
The company has struck 2 strategic partnerships to fuel further expansion, though: A co-development bargain with French multinational hospitality company AccorHotels, besides equally a articulation venture with Vanke, i of the largest property developers in Prc. Both have taken a five per cent stake in Ho's company.
LEAVING A LEGACY
Equally he approaches his 67th year this August, the idea of leaving a legacy does make Ho cringe a footling.
"Legacy is not nigh people remembering you; who gives a damn how people remember yous when you lot're dead already anyhow? If you lot desire people to think well of yous, do it while you're alive," he offered candidly.
"So, to me, legacy is about whether you've given what you lot've built a solid foundation to abound beyond your wildest dreams."
To this stop, Ho'south succession program is already in move. He has been consciously decentralising decision-making and implementing structures and mechanisms for the business concern to keep running independently of his involvement in future.
And on this 25th year since Banyan Tree first put down roots, he believes he'southward "25 per cent of the way at that place" to achieving that self-defined legacy.
READ> How meditation and mindfulness tin can make your vacations more enjoyable
cabapissompons1998.blogspot.com
Source: https://cnalifestyle.channelnewsasia.com/people/banyan-tree-25-th-anniversary-ho-kwon-ping-239341
0 Response to "Banyan Tree's Ho Kwon Ping on Asian pride and venturing into 'budget' travel"
Post a Comment