Given the trend of international integration, in order to be successful, tourism and resort-focused real estate developers need to collaborate with prestigious global brands. Not only does it give visitors the best experience during their holiday but also create sustainable profit for investors.
The collaboration between leading real estate developers in the country and renowned international hotel management brands in Phu Quoc is elevating Ngoc Island to become a rising star on the travel map of Vietnam and the world.
A new Phu Quoc
As an island favored by nature for many poetic beaches, famous for unique seafood species, immense pepper fields - to name a few, Phu Quoc is turning over by the days thanks to investment in and upgrading of a number of infrastructure and world-class resort - shopping - entertainment – service complexes.
In addition to the existence of the North-South route, the loop around the island, the submarine cable that powers island, the opening of Phu Quoc International Airport in late 2012 marked Phu Quoc’s turnaround.
With the travel time shortened to only 1-2 hours from economic and tourist centers such as Ho Chi Minh City, Hanoi, Singapore, Bangkok, Kuala Lumpur, etc., the number of visitors coming to Ngoc Island spikes every year.
As of 2018, the number of visitors has increased 20 times compared to when Phu Quoc airport was first opened. Currently, this number is still on the rise without any sign of cooling down.
From a relative primitive island with few investors and real estate projects, in the past few years, Phu Quoc has emerged as the focal point among strong-handed investors. As real estate mega-projects pop up one after the other, Phu Quoc has completely been transformed and with it, property price on the island skyrocketed.
Mr. Philippe Le Bourhis - Managing Director of Mövenpick Resort Waverly Phu Quoc, stated that Phu Quoc is one of the fastest-growing travel destinations in recent years.
Previously, Phu Quoc was known as a destination for adventurous souls. It is now attracting all sorts of travelers around the world. One of the most major changes is the ample supply of hotels, accommodation, restaurants, coastal bars and exciting activities.
And a discerning MIK Group
According to CBRE Vietnam, in order to be successful in the "million-dollar segment", investors should aim for products with proper investment and distinctive designs. This is the differentiating factor on the real estate market and a premise to attract customers, ensuring occupancy rate.
In addition, the prestige of the management – operation company is also a key. As it has been proven, resorts which are managed and operated by professional companies will be able to better retain visitors, a must in terms of investors’ guaranteed return.
In addition, the appearance of big international brands on Ngoc Island is also the sufficient condition for the promising future of Phu Quoc resort real estates.
Taking MIK Group as an example: the company has been quick to collaborate with Mövenpick Hotels & Resorts, which is known for its resorts designed with local architecture heritage in mind mixed with its Swiss-style standards on management and operation.
Previously, MIK Group has proven its capacity through the successful development of Sol Beach House Phu Quoc hotel in collaboration with MHI - Meliá Hotels International.
Investors realized that the collaboration between MIK Group and major brands such as Melia or Mövenpick is a factor in ensuring project sell-out, investors’ success as well as complete experience for travelers.
Mr. Patrick Basset, CEO of Accor Group in Southeast Asia, Northeast Asia and the Maldives, said that the domestic tourism market in Vietnam is quickly growing, thus the hospitality business will keep its momentum in the foreseeable future. International hotel management companies are supposed to play an important role in the growing demand for travelling thanks to the brands’ presence on the international market.
“One of the biggest benefits of working with Accor is the global distribution network for accommodation and a global membership base of around 51 million people, giving the hotel undeniable advantages in comparison with independently-operated establishments,” - Mr. Basset.