After a successful IPO in June 2006, Banyan Tree Holdings Limited plans to use part of the proceeds to fund an ambitious expansion plan. At the heart of the business plan was an ambitious proposal to open 28 new resorts in over four years, which will include non-Asian territories from Greece to Mexico. The Asian financial crisis of 1997, the SARS crisis in 2003 and the tsunami in the Indian Ocean in 2004 have taken their toll on the travel and tourism industry in the region, where Banyan Tree resorts and spas were concentrated. Although the recovery was on the horizon, these events left haunting memories and CEO Ho Kwon Ping understands the need to diversify risk by geographic region. This is considered as the company with the empirical brand should manage its global expansion without losing the core values associated with its brand. "Hide
by Ali Farhoomand, Pauline Ng, Cathy Enz Source: University of Hong Kong, 39 pages. Publication Date: March 25, 2008. Prod. #: HKU774-PDF-ENG
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