23 September 2014 - National University of Singapore

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Source: The Business Times, p11
Date: 23 September 2014
of Singapore
How Dynasty
bests the stiff
competition
By HO JIE Ql CANDICE, VERA SOH
XIAO XIAN, CHUA WEN HUI
SARAH and NICHOLAS CHUA
SIANG KWANG
HE first travel agency to be
awarded the SME Enterprise 50 (ESO) Award, Dynasty Travel has evolved into one of Singapore's leading travel agencies by creatively
adapting to travellers' changing demands and achieving technological
breakthroughs.
And it has done this while operating in Singapore's fiercely competitive travel industry, comprising
more than 1,100 travel agencies.
On top of that, brick-and-mor tar travel agencies have been hit by
the trend oftravellers turning to online travel agents; larger airlines
and hotel chains are also allowing
their customers to book flights and
a ccommodation directly over the
Internet.
Dynasty has adapted to these
changes by targe ting consumers
whose needs are not met by online
channels. Such consumers ar e
those who feel overwhelmed by, or
do not want to process the vast
amount of information available online, and who feel they would be una ble to pick the mo st suita ble
flights and rooms and to look after
the logistics of the trip themselves.
Dynasty Travel chairman Perry
Neo said: "Our packages may be
pricier, but we give customers valu e for money. They s t ay in
good-quality hotels and get the best
of lo cal cuisine."
This differentiation strategy has
been well-received by the well-travelled and well-educated. Dynasty
said its customers spend S$2,000
on average, about twice the average sum South-east Asians spend
on overseas travel.
Beyond serving this segment,
Dynasty continually pioneers initiatives to improve its operations.
In 2009, it became the first travel agency to launch an online payment service for group-tour packages; it was also the first to collaborate with AXS, pro viding its custom ers the convenience of making
payments through the 880 AXS stations island-wide.
In 2012, the 36-year-old company launched Singapore's first holiday-booking mobile app lication ,
T
iDynasty, which gives its users information on destinations and itineraries; travel packages can also
be booked on one's mobile phone.
In-house, the company's consultants use the iPad mini - loaded
with the proprietary software management system TOURIX - to sell Dynasty's next age: Clifford Neo (left) and his father Perry continue
travel packages. The system up- to helm the company after its acquisition by JTB. Dynasty is the firs t
dates prices and itineraries in real Singapore travel agency to be acquired by a global travel company.
time and ensures that consultants FI LE PH OTO
always have the latest information
for their customers.
3 before departure.
tra ve l
p ac k ages
offered
Plans are afoot to launch a conChairman Neo recalled that the world-wide.
cierge service using TOURIX. With company used to fine consultants
Dynasty Travel is persevering in
this , travel consultants will be able $2 ea ch time they failed to open the its pursuit of growth and expanto visit their customers personally door when walking a customer out, sion, backed up by its stable of emto discuss their travel needs - and whether or not a booking had been ployees who embrace its values.
The company said: "We are in
this works paperlessly too, in a nod made. The fines have been abolthe
business of selling happiness.
to Dynasty's efforts to build a green- ished, but he still reminds his emAnd
we pride ourselves in leading
er environment.
ployees that custom er ser vice the way. "
The application has backroom should come from the heart.
functions as well, as an analytic
Th e writers are students
He is such a firm believer in the
tool which enab les Dynasty to
of
the
NUS Business School
"customers fir st" mantra that he
track metrics such as its best-sellpersonally goes along each time a
ing destinations and most productour to a n ew d es tination is
tive workers.
launched, to see for himself that opAll these initiatives have enerations on the ground are smooth ,
hanced customer satisfac tion and
that safety is given attention.
from the point of booking a tripthrough to the trip itself - as has He also personally springs surprise
been evidenced from the 15 per ch ecks to ensure that the tours
cent year-on-year growth in the meet standards.
The company shows its graticompany's revenue.
Dynasty a lso keeps its travel of- tude to its loyal customers - deferings fresh to stay ahead of the fined as those who have gone on its
pack. It has designed tour packag- tours at least five times- with annues to less-explored territories such a l get-togethers. Last year, the
Celebrating Singapore's
as Zambia, Kenya, Tanzania and get-together was a luncheon on
board
a
Royal
Caribbean
liner.
South America, and out-of-the-ordiEnterprising Spirit 2014
In 2013, the company r egisnary expe ri enc es such as a
three-night stay in a wilderness tered an annual turnover of S$94
This series is part of the
million. The year before, it was
lodge during its Alaskan cruises.
Enterprise 50 Educational
Clifford Neo , the company's named a Heritage Brand in the SinProject between the E50
ma naging director and son of the gapore Prestige Brand Awards ; in
partners and the NUS Business
chairman , is proud of the level of 2010 and 2011, it won the Pacific
Asia
Travel
Association
(Pata)
School.
Dynasty Travel
customer service Dynasty offers at
award
for
its
contributions
to
the
every customer touch point: "Dywas among the winners in
nasty's management and staff take travel industry in the Asia-Pacific.
2013. The annual E50 ranking
In the coming year s, the agency
special care in managing all points
is co-organised by The Business
ofinteraction with customers, from hopes to expand its market share
Times and KPMG, sponsored
their very first encounter to the in Asia by zeroing on affluent travby OCBC Bank, and supported
ellers looking for travel packages to
post-trip fo llow-up. "
by Spring Singapore,
Custom ers a re warmly wel- exotic destinations.
On Feb 28, this former famiIE Singapore, lnfocomm
comed upon arrival a t the company's New Bridge Road office and ly-owned small and medium -sized
Development Authority of
promptly attend ed to by travel con- enterprise was acquired by JaSingapore and Singapore
pan's top travel agency Japan Toursultants.
Business Federation.
As the travel date nears , custom- ist Bureau Corporation (JTB) in a
ers a re given updates on their tour multi-million-dollar deal.
JTB, which has plans to expand
details and entitlements as Dynasty
customers; for example, they get ac- across the Asean and Asian marNational University
BUSINESS
cess to the pr emium club lounges kets , will work with Dynasty to
of Singapore
SCHOO L
in Changi Airport's Terminal 2 and more tha n double the numb er of
ENTERPRISE
NUS NUS
Source: The Business Times © Singapore Press Holdings Ltd. Permission required for reproduction.

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