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Centara targets a major growth strategy with 20 new hotel openings across Vietnam, by 2024

Centara targets a major growth strategy with 20 new hotel openings across Vietnam, by 2024

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    Thailand’s hotel operator, 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 dynamic Asian nation in the next five years.

    Part of the Central Group, Thai conglomerate, Centara is an 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 brands, including six distinct hotel concepts, SPA Cenvaree, the Thai wellness brand, and COAST, the beachfront F&B concept.

    The group already has an intuitive knowledge of the Vietnamese market; Centara Sandy Beach Resort Danang is a popular upscale beachfront resort on 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 travellers.

    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 travellers 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.

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    20 Feb 2020
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