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|Olivier Chavy, president and CEO of Mövenpick Hotels & Resorts shares the strategy in Vietnam|
Olivier Chavy, president and CEO of Mövenpick Hotels & Resorts, shared at a press meeting on the occasion of its leadership team visiting Vietnam that, “Vietnam is strategically important for Mövenpick Hotels & Resorts. It is one of the region’s most high-growth hospitality markets and has strong development prospects for our company."
“Our ambition is to grow our portfolio to 10 hotels within the next five years—a move that would make us one of the largest international hotel companies operating under one single brand in the country,” added Chavy.
Mövenpick Hotels & Resorts currently operates one property in Vietnam, the 154-key Mövenpick Hotel Hanoi and has signed management agreements for five additional hotels—a move that will grow its portfolio to more than 2,200 keys countrywide by 2020.
This expansion will kick-off next year with the opening of Mövenpick Resort Cam Ranh Bay featuring 250 rooms, 132 residences, and 121 villas. The company’s Vietnamese development strategy will gain further traction with the launch of Mövenpick Resort Phu Quoc in 2019 with 305 rooms, 296 residences, and 87 villas, the opening of Mövenpick Resort & Spa Quy Nhon with 180 rooms and 52 residences, the 504-room Mövenpick Hotel & Residences Han River, Danang, and the 219-room Mövenpick Hotel Quang Binh in 2020.
Executive committee (ExCom) of Mövenpick Hotels & Resorts will visit Hanoi, Danang, Cam Ranh, and Phu Quoc as the global hospitality firm pursues its Asian expansion plans. During their visit to Vietnam, the ExCom delegation will meet with colleagues and local hotel owners and visit the locations of the upcoming properties before heading to the Philippines and Indonesia to conduct similar meetings. The team has already visited Thailand and Malaysia.
Today the company operates 10 hotels and resorts in seven Asian destinations. In addition to its property in Hanoi, the firm manages five hotels and resorts in Thailand and one property each in China, Indonesia, the Philippines, and Sri Lanka.
17 new projects have already been signed, all of which are on track to open by 2020, growing the Asia portfolio to 27 properties. The goal is to operate at least 30 hotels and resorts in the region by the end of the decade.
The breakdown of the signed projects is as follows: Vietnam (five), Thailand (four), Malaysia (three), Bangladesh (two), and one in each of the following locations – China, the Philippines, and the Maldives.
“We will have at least 30 properties under our management in Asia by the end of the decade and looking beyond 2020, we expect our property development activity across the continent to become a bigger percentage of our total portfolio,” said Andrew Langdon, chief development officer of Mövenpick Hotels & Resorts, one of the ExCom members taking part in the ‘Grand Tour of Asia.’
“We are on track to open two new hotels and resorts this year, the Mövenpick Resort Khao Yai in Thailand and the Mövenpick Resort & Spa Boracay, our second property in the Philippines,” Langdon added.
|Mövenpick Resort & Spa Quy Nhon deal inked|