Luxury tourism underperforming in Vietnam despite great potential: resort exec

Luxury travellers are willing to travel far and wide for truly memorable experiences and Vietnam can do more to provide these to tap a lucrative market, said Duy Tran, CEO of P Q Hai Quoc JSC, owner of LUXNAM* Phu Quoc, a resort on Phu Quoc island, southern Vietnam.

Why is LUXNAM* Phu Quoc called the first Maldivian-style inspired resort in Vietnam? What else is special about the place?

LUXNAM* Phu Quoc is developed on a biosphere reserve spanning over 314,000 square meters, featuring a unique ecosystem of flora and fauna. This location has evergreen forests and a dense mountain range, creating experiences reminiscent of the Maldives. In addition to the scenic landscapes, we draw inspiration from Maldivian design and architecture.

The resort also introduces visitors to ‘Life Extraordinary’ experiences, including culinary delights and the rich local culture and heritage. We aim to make vacations meaningful…where individuals can explore the unfamiliar, learn about nature, and expand their knowledge of Phu Quoc island.

You signed with global hotel group The Lux Collective a strategic agreement on managing the luxury resort. Can you explain the partner’s choice?

The Lux Collective is a reputable, prestigious global luxury hospitality management group. It is a purpose-led company. Making each moment matter and caring about what matters is at the heart of its vision. It puts people first and stays true to the values of being passionate, responsible and innovative.

This vision and deep passion for service met the qualities of a hotel management company that we were looking for. So we share the passion of creating a truly unique project that embraces sustainability while contributing to the uplift of the larger community.

Why Phu Quoc? What potentials do you see in this island?

The breathtaking natural landscape and sea views, the culture, the people and the bright future of economy compared to other destinations of Vietnam that we’ve seen. It is our goal to become an industry leader in environmental sustainability and to work harmoniously with the surrounding national parks.

You have chosen to make an investment when the global economy faces a recession risk. Why?

Market downturns are cyclical and to be expected. By the time the property opens we expect the market recovery to be complete.

Why are you targeting luxury travellers?

The luxury traveller is looking for memorable experiences and willing to travel far and wide for it. This is particularly true in the post-Covid scenario. People want to travel with a purpose. They are looking for more meaningful journeys as they explore the world. We also believe in offering meaningful experiences that are combined with responsibility towards community, planet and people.

As such, we believe that this is a segment that is underperforming in Vietnam and has enormous potential for further growth.

Vietnam has seen an increase in international arrivals this year. How can this be sustained and built upon?

Vietnam needs to provide more unique experiences for its guests. Beyond the hotels there needs to be curated travel experiences that allow international visitors to truly see and feel the real Vietnam, and having seen it once, want to come back again and again.