Meet The Experts Hanoi 2024: Striving towards a sustainable future in Vietnam's Hospitality and Real estate

Meet The Experts (MTE), the premier business conference for Viet Nam’s real estate and hospitality sectors, was held on 24 October 2024 in Ha Noi under the theme “Wellness Real Estate.”

Viet Nam remains a top destination for Asian tourists, particularly South Koreans who seek alternative beach getaways to Thailand. The country’s tourism offerings are evolving, with new brands and resorts entering the market. Mauro Gasparotti, Director of Savills Hotels and creator of the MTE series commented:

"Viet Nam’s hospitality sector is well on its way to a full recovery. Most destinations have moved beyond the challenges of stagnant demand and are now focused on sustainable growth."

Mauro Gasparotti, Director, Savills Hotels

The luxury segment is performing exceptionally well, and we’re seeing renewed interest in second-home markets, which had been affected by negative sentiment in recent years. He continued:

"Residential developments that feature leisure amenities are gaining traction. This trend presents local developers with a unique opportunity to deliver enhanced value to buyers, improving their well-being and comfort."

Key Insights and Emerging Trends

At the event, senior representatives from Accor Hotels Group, BIM Group, T&T Hospitality, Vinpearl Holding Company, M Village, SOJO by ROX, and VinHMS shared valuable insights into the state of Viet Nam’s hospitality market.

The panel focused on the ongoing trends of hotel rebranding and repositioning, as owners and operators adapt to changing market demands. Discussions also highlighted alternative management models and rental agreements as increasingly popular options for developers seeking greater operational flexibility.

One notable trend is the rising demand for hotel leases from tour operators, driven by the recovery of group travel from Asian and select European markets. Tour operators and travel agencies are looking to upgrade their accommodation offerings, primarily targeting properties with 100 to 150 rooms in popular tourist destinations that offer a range of amenities. By refining their accommodation portfolios, these operators are gaining a competitive edge.

2025 Outlook for Key Markets

The panel also offered an outlook for 2025, reviewing the performance of key markets, including Ho Chi Minh City, Ha Noi, and coastal destinations. Viet Nam aims to attract 25 million international visitors in 2025, building on the momentum of 2024, which saw nearly 12.7 million international tourists in the first nine months—making solid progress towards this year’s target of 18 million.

Achieving this ambitious goal will require strong collaboration between public and private stakeholders. Airports and airlines will play a pivotal role, working closely with hotels, travel agencies, and tour operators to ensure seamless connectivity. Mauro noted:

“Viet Nam must launch more dynamic destination marketing campaigns to attract tourists to less crowded regions, rather than relying solely on established hotspots. By distributing traffic more evenly, we can lay the foundation for long-term, sustainable growth.”

Innovative concepts & industry-shaping strategies

Keynote speeches from representatives of VinaCapital, HotStats, and Savills Hotels provided insights into macroeconomic trends, hotel trading performance on both global and local scales, the appeal of luxury retail brands in mixed-use developments, and the latest innovations in branded residences.

The presentations also spotlighted groundbreaking hotel concepts, with speakers from Radisson Hotel Group, Cloud Collective, and Dark Horse Architecture presenting case studies on lifestyle hotels, luxury glamping, and sustainable resort models in Bali. These thought-provoking presentations offered valuable strategies for the future of the hospitality industry.

Senior professionals from Savills, TCC Land International, Hoiana Resort & Golf, Alphanam Group, Meliá Hotels International, MIK Group Viet Nam, and Indochina Kajima delved into the defining elements of ultraluxury projects, identifying the key differentiators that set these developments apart in an increasingly competitive market.

The discussion also provided an overview of Viet Nam’s branded residence landscape, examining its current performance and future potential. Special attention was given to urban branded residences in Ha Noi and Ho Chi Minh City, with in-depth analysis of how branding can enhance property value. The conversation also emphasised the rising importance of wellness features in hospitality and real estate, showing how these elements are being integrated to meet evolving consumer demands and elevate guest experiences.

Meet The Experts (MTE) fosters collaboration, provides actionable insights, and offers networking opportunities to help stakeholders capitalise on growth prospects and prepare for the next cycle in Viet Nam’s dynamic real estate and hospitality markets. The biannual event brought together leaders from across the industry, including investors, hotel owners, management companies, design firms, and consultants.

>>Read more: Embrace a new cycle for Vietnam's real estate and hospitality