Centara Hotels & Resorts has revealed plans for a significant expansion of its portfolio in Vietnam, with the goal of opening at least 20 new hotels across this vibrant and dynamic Asian nation in the next five years.
Part of the Central Group, Centara is an award-winning international hotel group with a global collection of hotels and resorts in Southeast Asia (including Thailand, Laos, and Vietnam), the Middle East, Sri Lanka, and the Maldives. It operates a series of leading brands, including six distinct hotel concepts, SPA Cenvaree, the Thai wellness brand, and COAST, the beachfront F&B concept.
Many of the company’s hotels are genuine market leaders, such as Centara Grand & Bangkok Convention Centre at CentralWorld, which is one of the world’s top conference venues; Centara Grand Mirage Beach Resort Pattaya, ranked best family resort in Thailand by TripAdvisor for the past 5 years; and Centara Grand Beach Resort & Villas Hua Hin, which was named by CNN as one of the best heritage hotels in Asia.
The group already has an intuitive knowledge of the Vietnamese market; Centara Sandy Beach Resort Danang is a popular upscale beachfront resort on the country’s stunning central coast, and Central Group operates a range of top retail brands all across Vietnam, including GO! (formerly BigC Vietnam), LanChi Mart, B2S, Robins, SuperSports, Home Mart and Nguyen Kim.
Building on this long-term success, Centara is now pursuing a major nationwide growth strategy, with the target of opening at least 20 new hotels and resorts across Vietnam by 2024. Targeted destinations include key economic hubs such as Ho Chi Minh City, Hanoi and Haiphong, and other high-growth areas like Danang, Phu Quoc, Nha Trang, Cam Ranh, and Hoi An. There is also strong potential in the southern coastal areas of Vung Tau, Ho Tram and Mui Ne, due to new road infrastructure connecting the region with HCMC and the development of a major new airport in nearby Dong Nai province.
Centara foresees opportunities for all six of its brands in Vietnam, which include Centara Grand, Centara, Centara Residences & Suites, Centara Boutique Collection, Centra by Centara and its latest concept, COSI, which caters for freedom loving and tech-savvy travelers.
“Vietnam’s tourism industry enjoyed a great year in 2018 and we expect this to continue for many years to come. Boosted by booming intra-Asian travel, more relaxed visa policies and impressive improvements to transport infrastructure, the country is already well on track towards another record-breaking tourism year in 2019. With our collection of hotel concepts, global hospitality expertise, and local market experience, we are well placed to achieve our targets in Vietnam,” commented Centara Hotels & Resorts Chief Executive Officer, Thirayuth Chirathivat.
International visitor arrivals to Vietnam reached a record total of 15.5 million in 2018, the majority of which came from Asia, where the Centara brand is well known and respected. This upward surge is continuing in 2019; data from the Vietnam National Administration of Tourism (VNAT) reveals that almost six million overseas travelers visited the country in the first four months of this year, and a buoyant economy is boosting domestic tourism.
Positive tourism trends are driving demand for new hotels and resorts. Recent data from industry analysts STR shows that over 23,000 new hotel rooms are currently being constructed in Vietnam – a reflection of the continued rise of the country as a global tourism hotspot. This creates opportunities for Centara, which has a proven track record of operational success and strong partnerships in the country.
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. At present, the company has 71 hotels and resorts either operating or in the pipeline worldwide, comprising over 13,000 rooms.
