Ha Noi, 24 October 2024 – Meet The Specialists (MTE), the premier enterprise convention for Viet Nam’s actual property and hospitality sectors, was held on 24 October 2024 in Ha Noi beneath the theme “Wellness Actual Property.” The biannual occasion introduced collectively leaders from throughout the trade, together with buyers, resort house owners, administration firms, design companies, and consultants. MTE fosters collaboration, gives actionable insights, and affords networking alternatives to assist stakeholders capitalize on development prospects and put together for the following cycle in Viet Nam’s dynamic actual property and hospitality markets.
Viet Nam’s tourism sector has seen vital demand from worldwide markets, significantly South Korea. Within the first 9 months of 2024, the nation welcomed roughly 3.4 million South Korean travellers, reflecting a 30.3% year-on-year improve and a 7.2% rise in comparison with the identical interval in 2019. This surge positioned South Korea because the main supply marketplace for worldwide guests to Viet Nam, surpassing China and accounting for 27% of whole arrivals. Key locations corresponding to Nha Trang–Cam Ranh and Da Nang proceed to see a powerful presence of South Korean vacationers, who symbolize 56% and 40% of worldwide arrivals, respectively.
India can also be rising as a key development market, with its share of tourists growing from 1% within the first 9 months of 2019 to three% in the identical interval in 2024.
Mauro Gasparotti, Director of Savills Accommodations and creator of the MTE collection commented: “Viet Nam’s hospitality sector is nicely on its strategy to a full restoration. Most locations have moved past the challenges of stagnant demand and at the moment are targeted on sustainable development.”
He continued, “Viet Nam stays a prime vacation spot for Asian vacationers, significantly South Koreans who search different seashore getaways to Thailand. The nation’s tourism choices are evolving, with new manufacturers and resorts getting into the market. The posh phase is performing exceptionally nicely, and we’re seeing renewed curiosity in second-home markets, which had been affected by damaging sentiment in recent times. Moreover, residential developments that characteristic leisure facilities are gaining traction. This pattern presents native builders with a singular alternative to ship enhanced worth to patrons, enhancing their well-being and luxury.”
Key Insights and Rising Developments
On the occasion, senior representatives from Accor Accommodations Group, BIM Group, T&T Hospitality, Vinpearl Holding Firm, M Village, SOJO by ROX, and VinHMS shared invaluable insights into the state of Viet Nam’s hospitality market. The panel targeted on the continued traits of resort rebranding and repositioning, as house owners and operators adapt to altering market calls for. Discussions additionally highlighted different administration fashions and rental agreements as more and more standard choices for builders in search of higher operational flexibility.
One notable pattern is the rising demand for resort leases from tour operators, pushed by the restoration of group journey from Asian and choose European markets. Tour operators and journey companies want to improve their lodging choices, primarily concentrating on properties with 100 to 150 rooms in standard vacationer locations that supply a variety of facilities. By refining their lodging portfolios, these operators are gaining a aggressive edge.
2025 Outlook for Key Markets
The panel additionally provided an outlook for 2025, reviewing the efficiency of key markets, together with Ho Chi Minh Metropolis, Ha Noi, and coastal locations. Viet Nam goals to draw 25 million worldwide guests in 2025, constructing on the momentum of 2024, which noticed almost 12.7 million worldwide vacationers within the first 9 months—making strong progress in the direction of this 12 months’s goal of 18 million.
Mauro famous, “Attaining this bold purpose would require sturdy collaboration between private and non-private stakeholders. Airports and airways will play a pivotal function, working carefully with resorts, journey companies, and tour operators to make sure seamless connectivity. Moreover, Viet Nam should launch extra dynamic vacation spot advertising campaigns to draw vacationers to much less crowded areas, slightly than relying solely on established hotspots. By distributing site visitors extra evenly, we are able to lay the inspiration for long-term, sustainable development.”
Classes from Thailand’s Tourism Success
Drawing parallels with regional success tales, Uyen Nguyen, Head of Consultancy at Savills Accommodations, highlighted Thailand’s tourism trajectory: “In 2014, Thailand welcomed almost 25 million worldwide vacationers. By sustaining a compound annual development fee (CAGR) of round 10% from 2014 to 2019, the nation noticed its worldwide arrivals climb to just about 40 million. This development was pushed by Thailand’s Nationwide Tourism Improvement Plan, which prioritised infrastructure improvement, the creation of latest tourism merchandise, and enhanced hospitality providers. Strategic advertising campaigns, corresponding to “Wonderful Thailand”, efficiently focused high-growth markets like China and India. Furthermore, the federal government’s growth of visa exemptions and simplified visa-on-arrival processes performed a key function in making the nation extra accessible to worldwide vacationers.”
Modern Ideas and Business-Shaping Methods
Keynote speeches from representatives of VinaCapital, HotStats, and Savills Accommodations offered insights into macroeconomic traits, resort buying and selling efficiency on each international and native scales, the attraction of luxurious retail manufacturers in mixed-use developments, and the most recent improvements in branded residences. The displays additionally spotlighted groundbreaking resort ideas, with audio system from Radisson Lodge Group, Cloud Collective, and Darkish Horse Structure presenting case research on life-style resorts, luxurious glamping, and sustainable resort fashions in Bali. These thought-provoking displays provided invaluable methods for the way forward for the hospitality trade.
Senior professionals from Savills, TCC Land Worldwide, Hoiana Resort & Golf, Alphanam Group, Meliá Accommodations Worldwide, MIK Group Viet Nam, and Indochina Kajima delved into the defining components of ultraluxury tasks, figuring out the important thing differentiators that set these developments aside in an more and more aggressive market. The dialogue additionally offered an summary of Viet Nam’s branded residence panorama, analyzing its present efficiency and future potential. Particular consideration was given to city branded residences in Ha Noi and Ho Chi Minh Metropolis, with an in-depth evaluation of how branding can improve property worth. The dialog additionally emphasised the rising significance of wellness options in hospitality and actual property, exhibiting how these components are being built-in to fulfill evolving shopper calls for and elevate visitor experiences.
A Dedication to Sustainable Development
WeHub and Savills Accommodations prolong their deepest gratitude to all companions, company, and audio system who contributed to the success of MTE 2024 in Ha Noi. Devoted to supporting Viet Nam’s journey in the direction of sustainable development in actual property and hospitality, MTE occasions proceed to supply a necessary platform for trade professionals to remain linked, knowledgeable, and able to thrive in an ever-evolving market.
For some other enquiries, please contact:
Pham Thi Thuy Nhung (Ms.)
Head of Advertising and Enterprise Improvement
Savills Accommodations Asia Pacific
T: +84 934 345 630
E: [email protected]
Tu Thi Ngoc Thuy (Ms.)
Advertising Supervisor
Savills Accommodations Asia Pacific|
T: +84 903 898 450
E: [email protected]