Harvard Case - Banff Aspen Lodge: Evolving the Business Strategy
"Banff Aspen Lodge: Evolving the Business Strategy" Harvard business case study is written by Laurie George Busuttil, Susan J. Van Weelden. It deals with the challenges in the field of Strategy. The case study is 13 page(s) long and it was first published on : Aug 31, 2018
At Fern Fort University, we recommend that Banff Aspen Lodge (BAL) implement a multifaceted strategy focused on digital transformation, strategic alliances, and product differentiation to enhance its competitive advantage and achieve sustainable growth. This strategy involves leveraging technology to improve guest experience, forging partnerships to expand reach, and developing unique offerings that cater to specific market segments.
2. Background
Banff Aspen Lodge (BAL) is a successful resort hotel in Banff National Park, Canada. The lodge enjoys a strong reputation and loyal customer base, but faces increasing competition from new entrants and evolving guest expectations. The case study highlights BAL's need to adapt its business strategy to maintain its position in a dynamic market.
The main protagonists of the case study are the lodge's management team, tasked with developing a strategic plan to address the challenges and opportunities facing the business.
3. Analysis of the Case Study
To analyze BAL's situation, we can employ a combination of frameworks:
- Porter's Five Forces: This framework helps assess the competitive landscape. The analysis reveals a moderately competitive industry with high bargaining power of buyers (tourists), a threat of new entrants, and a growing threat of substitutes (alternative accommodations).
- SWOT Analysis: This helps identify BAL's strengths, weaknesses, opportunities, and threats.
- Strengths: Strong brand reputation, loyal customer base, prime location, experienced staff.
- Weaknesses: Limited online presence, outdated technology, lack of unique offerings, limited marketing reach.
- Opportunities: Growing demand for luxury travel, increasing interest in sustainable tourism, potential for strategic alliances, technological advancements.
- Threats: Increasing competition, economic downturn, environmental concerns, changing guest preferences.
- Value Chain Analysis: This helps understand BAL's core activities and potential areas for improvement. The analysis reveals opportunities to enhance guest experience through technology, streamline operations, and optimize resource allocation.
- Business Model Innovation: BAL needs to explore new business models that leverage technology and cater to evolving guest preferences. This could include offering personalized experiences, integrating mobile applications, and developing loyalty programs.
4. Recommendations
- Digital Transformation:
- Implement a comprehensive digital strategy: This should include a user-friendly website, mobile app, and social media presence.
- Invest in technology: Upgrade IT infrastructure, implement online booking systems, and integrate AI-powered chatbots for customer service.
- Leverage data analytics: Collect and analyze customer data to personalize offers, improve service, and optimize marketing campaigns.
- Strategic Alliances:
- Partner with travel agencies and tour operators: This will expand BAL's reach and attract new customer segments.
- Collaborate with local businesses: This can create joint marketing initiatives and enhance the overall guest experience.
- Explore partnerships with airlines and transportation providers: This can streamline travel arrangements and attract international visitors.
- Product Differentiation:
- Develop unique offerings: Create specialized packages for specific market segments, such as families, couples, or adventure seekers.
- Enhance sustainability initiatives: Implement green practices and offer eco-friendly experiences to appeal to environmentally conscious travelers.
- Invest in staff training: Develop a culture of exceptional service and hospitality to differentiate BAL from competitors.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with BAL's core competencies in hospitality and guest experience, while also supporting its mission of providing exceptional service in a beautiful natural setting.
- External customers and internal clients: The recommendations address the needs of BAL's target customers, including increased convenience, personalized experiences, and sustainable practices. They also aim to empower employees by providing them with the tools and resources to deliver exceptional service.
- Competitors: The recommendations aim to differentiate BAL from competitors by leveraging technology, forging strategic partnerships, and developing unique offerings.
- Attractiveness: The recommendations are expected to generate a positive return on investment through increased revenue, improved efficiency, and enhanced customer loyalty.
6. Conclusion
By implementing these recommendations, BAL can successfully navigate the evolving hospitality landscape, enhance its competitive advantage, and achieve sustainable growth. The lodge's commitment to digital transformation, strategic alliances, and product differentiation will enable it to cater to the needs of modern travelers and maintain its position as a leading destination in Banff National Park.
7. Discussion
Other alternatives not selected include:
- Mergers and Acquisitions: While this could provide access to new markets and resources, it carries significant risks and may not be the best fit for BAL's current strategy.
- Vertical Integration: This could involve acquiring or developing complementary businesses, such as restaurants or transportation services. However, this could be costly and may not be necessary given BAL's existing partnerships.
Key assumptions of the recommendations include:
- Technology adoption: The success of the digital transformation strategy relies on the adoption of new technologies by both guests and staff.
- Partner commitment: The effectiveness of strategic alliances depends on the commitment and collaboration of all parties involved.
- Market demand: The success of product differentiation strategies relies on the existence of a market for the unique offerings developed by BAL.
8. Next Steps
- Develop a detailed implementation plan: This should outline specific actions, timelines, and resources required to implement the recommendations.
- Invest in technology and training: Allocate resources for IT upgrades, staff training, and marketing campaigns.
- Establish performance metrics: Track key performance indicators (KPIs) to measure the effectiveness of the strategy and identify areas for improvement.
- Monitor competitive landscape: Continuously assess the competitive environment and adjust the strategy as needed.
By taking these steps, BAL can ensure the successful implementation of its evolving business strategy and achieve its long-term goals.
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Case Description
In June 2013, the general manager of the Banff Aspen Lodge in Alberta, Canada, had to decide how to use the space previously vacated by a gift shop that had been housed in the lobby of the hotel. With high occupancy rates and no immediate pressure to add significantly to the hotel's bottom line, the general manager had the luxury of testing new services that could help deliver on the hotel's mission to provide every guest with an exceptional experience. However, he had to work within the hotel's footprint at the time. He was considering using the prime storefront space to add a restaurant or a café. He also knew, however, that complementary service offerings could pull resources away from the hotel's core lodging offering and pull him away from crucial long-term business development.
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