Thailand’s Centara plans 20 new hotels in Vietnam next five years
Targeted destinations for the company include key economic hubs like Ho Chi Minh City, Hanoi and Haiphong, as well as high-growth areas like Danang, Phu Quoc, Nha Trang, Cam Ranh and Hoi An.
Asian hospitality company Centara Hotels & Resorts, part of Thai conglomerate Central Group, is looking to open at least 20 new hotels across Vietnam in the next five years, according to Hotel Management.
Centara already is represented in Vietnam by the Centara Sandy Beach Resort Danang. Source: Centara Hotels & Resorts.
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Centara already is represented in Vietnam by the Centara Sandy Beach Resort Danang, and Central Group operates a range of retail brands across the country.
"Vietnam’s tourism industry enjoyed a great year in 2018 and we expect this to continue for many years to come," Centara CEO Thirayuth Chirathivat was quoted by Hotel Management as saying.
"Boosted by booming intra-Asian travel, more relaxed visa policies and impressive improvements to transport infrastructure, the country is already well on track toward another record-breaking tourism year in 2019."
International visitor arrivals to Vietnam reached a record total of 15.5 million in 2018, the majority of which came from Asia, and this surge is continuing. According to data from the Vietnam National Administration of Tourism, almost 6 million overseas travelers visited the country in the first four months of this year, and a buoyant economy is boosting domestic tourism, it reported.
Positive tourism trends are driving demand for new hotels and resorts and recent data from industry analysts STR shows more than 23,000 hotel rooms currently sate under construction in Vietnam.
Centara’s focus on Vietnam will form an important part of its global strategic vision, which includes the overall goal of doubling its total hotel portfolio by 2022, according to the company. It currently has 71 hotels and resorts with more than 13,000 rooms either operating or in the pipeline across Southeast Asia (including Thailand, Laos and Vietnam), the Middle East, Sri Lanka and the Maldives.
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Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
- Growing number of FDI firms moving to Vietnam
- Vietnam Gov’t committed to facilitating Adani Group’s US$2-billion port project
- Vietnam Railway proposes US$87 million for Hanoi–Dong Dang railway upgrade
- Vietnam’s North-South high-speed railway to be designed for 350km/h
- Vietnamese gov’t urged to address impact of global minimum tax
- Samsung plans drastic investment increase in Vietnam over next three years