Banyan Tree's Renyung Ho on Recovery, Responsible Travel

The transcript discusses the company's performance recovery post-COVID, highlighting a 46% increase in revenue per available room compared to last year. It addresses economic risks like recession and wage inflation, emphasizing talent management. Sustainability is a core value, with efforts to integrate it across all brands. Customer preferences are shifting towards responsible travel, impacting profitability and loyalty. The speaker reflects on family business dynamics, emphasizing stewardship and personal growth.

What is the company's current focus in terms of performance recovery?

• Increasing international tourism

• Reducing operational costs

• Differentiating and raising rates to 2019 levels

• Expanding into new markets

What has COVID-19 increased for the company in terms of tourism?

• Luxury tourism

• Business travel

• Regional and domestic tourism

• International tourism

What is a significant challenge mentioned in retaining talent in the travel industry?

• Limited career growth

• High competition from other industries

• Wage inflation

• Lack of training opportunities

Why is sustainability important to the company?

• It is a new trend in the industry

• It has always been part of the company's DNA

• It helps in reducing costs

• It attracts more investors

What is the company's strategy for integrating sustainability?

• Using it as a marketing tool

• Incorporating it across all brands and organizational levels

• Implementing it in select brands

• Focusing only on renewable energy

How does the company view its approach to profitability?

• By reducing employee wages

• By driving customer loyalty

• Through gaining market share

• By increasing prices

What is a potential downside of working in a family business as mentioned?

• Lack of professional growth

• Difficulty in maintaining work-life balance

• Limited financial resources

• It can become an echo chamber