A shortage of world-class hospitality properties in Quy Nhon City



A shortage of world-class hospitality properties in Quy Nhon City

Quy Nhon lacks high-end hospitality accommodations to capitalize on the tremendous tourist potential, which otherwise may attract visitors from all over the world. 

More luxury hospitality real estate for Quy Nhon tourism to “take off” 

Quy Nhon tourism has significantly changed since Phu Cat airport was extended and modernized, becoming a “spotlight” drawing millions of local and international travelers. 

With the resumption of international flights, the tourism industry in Quy Nhon has shown stunning indications of revival, exceeding tourist destinations like Da Lat, Vung Tau, and Nha Trang. According to the Ministry of Culture, Sports, and Tourism, Quy Nhon welcomed 920,000 tourists in the first three months of 2022, a 24% increase over the same period in 2021; income was estimated at VND 1,300 billion, a 34.6% increase over the same time. 

Indeed, Quy Nhon’s attractiveness comes from beautiful beaches like Nhon Ly, Nhon Hai and Cat Tien or natural wonders, such as Eo Gio, Ky Co, Bai Xep, etc. Besides, Quy Nhon is famous for its scenic spots imbued with cultural identities such as Quy Nhon Twin Towers, Emperor Citadel, and Banh It Towers, along with a diverse cuisine that enchants anyone who has ever come here. 

In 2020, Quy Nhon won the title of “ASEAN Clean Tourist City in 2020” at the ASEAN Tourism Forum – ATF. In the same year, the famous British travel guide Rough Guides cited Quy Nhon as one of the “Top 3 emerging destinations in 2020”. 

Analysts believe Quy Nhon is well-positioned to be a top destination in Asia and the world. However, Quy Nhon City still lacks high-end tourist lodgings, making it difficult for the city’s tourism to reach its full potential.

The issue was raised at the seminar “The attraction that elevates Quy Nhon into Asia’s new destination,” organized by the Vietnam National Real Estate Association (VNREA) earlier this year. At the seminar, it was indicated that Quy Nhon’s hospitality real estate market has gaps that need filling to become a world-class tourist destination. 

According to statistics from the Binh Dinh Department of Tourism, the number of tourists visiting Quy Nhon climbed by 45% during the early 2022 vacation season compared to the same period in 2021. Notably, the room capacity of 3- to 5-star hotels along the beach ranged from 85-90%, with several hotels completely filled. Meanwhile, 1- or 2-star hotels barely utilize 60% of their available capacity. 

This shows a huge demand for high-end accommodations in Quy Nhon. Meanwhile, most of the city’s existing projects are failing to meet this demand in the present and future, preventing Quy Nhon tourism from “taking off” commensurate with its potential. 

Solving the ‘quest’ for world-class hospitality properties, uplifting Quy Nhon beach tourism 

In recent years, Quy Nhon has become a hotspot for renowned high-class hospitality property developers. Tourist accommodations along the coast, which are meticulously sketched in design and operated by world-class operators, have gathered much attention.

Most recently, Phat Dat Real Estate Development Corporation and Akyn Hospitality group have embarked on the Ngo May commercial, coastal hotel & condotel complex. The project is believed to have a one-of-a-kind design thanks to the participation of leading national and global design agents. 

Notably, the seafront condotel block of this project will be operated by Centara Hotels & Resorts – Thailand’s leading hotel management and operation brand. Centara Hotels & Resorts is currently expanding its portfolio of 6 well-known brands and 89 hotels and resorts in Thailand, the Maldives, Dubai, Sri Lanka, Qatar, Oman, Japan, and Vietnam.

Under the direct management and operation of Centara Hotels & Resorts, the seafront condotel block inside Ngo May commercial, coastal hotel & condotel complex will deliver a world-class resort experience right in the sea paradise of Quy Nhon. 

The emerging Ngo May commercial, coastal hotel & condotel complex is considered a new symbol of this picturesque coastal city. At the same time, it serves to fill the shortage of high-class resorts, spreading Quy Nhon’s tourism attraction to the continent and the world.