Banyan Group founder and executive chairman Ho Kwon Ping shares his outlook on the future of hospitality and travel.
Navigating an uncertain world is the top of mind for many business and industry leaders in the current climate – topics that were at the heart of this year’s Singapore MICE Forum (SMF) 2025, organised by SACEOS at Sands Expo & Convention Centre from 23-25 July 2025.
Opening the event was a keynote fireside chat with Ho Kwon Ping, founder and executive chairman of Banyan Group, one of Singapore’s most prominent business leaders. In conversation with SACEOS' vice president, community Dylan Sharma, Ho delivered a rousing appeal for deeper purpose and stronger values in leadership.
When asked to share his top advice in fewer than ten words, Ho replied without hesitation: “Don’t sleepwalk through life.”
The danger of comfort without vision
Asked about Singapore’s long-term outlook, Ho expressed confidence in the country’s sovereignty and security, but warned against a subtler threat: mediocrity. Drawing on the metaphor of a frog slowly boiling in water, he said the country risks becoming a second-rank global city – comfortable and wealthy, but uninspired – if it loses its drive.
Reflecting on his own generation's ambition to lift Singapore from Third World to First, he questioned what vision now exists to motivate today’s youth. The challenge is to inspire younger people beyond material success – looking beyond just having access to better housing, cheaper car ownership, and travelling more, without a deeper purpose.
“I think if we lose that ability to dream and to be inspired by a vision of what we want to be, then we will go into mediocrity. So my hope for Singapore is that younger people will find things that inspire them, so that we don't gradually decline and become a wealthy second ranked, mediocre city state.”
Why MICE and hospitality are noble callings too
Ho urged younger MICE professionals to go beyond logistics and see their work as a unifying force.
The work has to go beyond just thinking of hosting global conferences. It should be about how one’s work fosters unity across cultures, and the belief that when the work does good in the world, it will never feel like “just a job”.
“I would tell young MICE professionals today, don't just think of your business as one of convention building for the global dentists’ association, he said. “I think the inspiring part of the business is we bring people from all walks of life together – and increase understanding among people. That may sound like a cliche, but I think it's really true, especially in today's world where there's so much divisiveness.”
While outsiders may see it as exciting, those within the industry know it involves long shifts, lower pay compared to careers in investment banking and AI, and a persistent sense that it is “always about serving others. Hence, many in the industry suffer from a lack of self-respect, said Ho. In contrast to fields like medicine, which are widely viewed as noble, Ho described the MICE and hospitality industries as noble.
Vision with patience
Marking Banyan Group’s 30-year journey, Ho shared insights into building a brand without compromising values. With 12 brands and the group’s milestone 100th property – the Mandai Rainforest Resort, marking its first in Singapore – Ho warned against sacrificing brand integrity for short-term wins.
Even if a pitch is lost as a result of staying true to values, there shouldn’t be regrets. “Stick to what you want the brand to be, rather than try to dilute the brand for an opportunity. Don't be afraid to say no and then wait for the right opportunities.”
Sustainability with substance
Ho also cautioned against performative sustainability. While Banyan Group has long embedded environmental and social responsibility into its business model, he has seen how organisations end up spending more on advertising their sustainability than actually walking the talk. Sustainability should be holistic, and not just about measuring carbon emissions, but about governance and long-term thinking.
Trained as an economist, Ho believes values must be rooted in real trade-offs. “The current buzzword is sustainability, and then corporate social responsibility, and then the other kinds of acronyms like DEI and so on, which is now out of fashion,” Ho said.