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As most of his family were running businesses that were getting hit by low cost competitors from other Asian countries, Ho Kwon Ping (Ho) decided to venture into tropical luxury resorts to create a brand for himself. So he started Banyan Tree, with a solitary hotel resort in 1995 in Thailand. It was the first to introduce the concepts of pool villas and tropical spas to the world. Banyan Tree soon expanded into a luxury- resort chain with its hotels, resorts, spas and retailing galleries spread over Singapore, Bangkok, Shanghai, Bangalore, Sydney and Seychelles. With its diversified operations, Banyan Tree became the only Asian company to feature in the book ''Uncommon Practices'' published by ''Financial Times Prentice Hall'' along with other world famous corporates like Virgin, Harley-Davidson, Manchester United and others. It was also named the ''Best Asia-Pacific Resort Hotel'' for the second time in the ''Business Traveller Asia-Pacific Awards''. By 2002, Banyan Tree clocked revenue of $114 million that was projected to rise to $130 million in 2003. The teaching note was written by Sreenivas Rajan.