Banyan’s marketing budget has yet to be cemented for 2009, although the company is expected to spend around $10 million to promote its brands globally this year in a bid to take on larger multinational rivals such as Four Seasons.
“We are certainly pushing into that space (to compete with Four Seasons),” said Michael Lee, VP, marketing, Banyan Tree Hotels & Resorts. “As to how we will push further will be revealed in due course.”
“We are certainly pushing into that space (to compete with Four Seasons),” said Michael Lee, VP, marketing, Banyan Tree Hotels & Resorts. “As to how we will push further will be revealed in due course.”
Formul8 won the business after a five-way pitch, and begins a two-year contract. The Singaporean integrated agency, which did some project work for Banyan Tree in 2006, has been charged to handle the company’s entire portfolio, including the flagship Banyan Tree and Angsana brands, in all markets.
It is unclear which other agencies contested the brief, however BBDO handled some projects for the advertiser last year. The Omnicom agency denies involvement in the pitch.
The review marks the first time Banyan Tree has formally appointed an agency-of-record. The move follows the recent hire of sales and marketing managing director, Arthur Kiong.
