Ninh Thuan will become a new destination in Asia.

Mr. Ngo Huu Truong - Deputy General Director of Crystal Bay Group.

Trend of multi-utility integration

Sir, currently, the tourism real estate market has more and more projects that integrate multi-utilities following the All-in-one trend. How do you evaluate this shift?

Firstly, it comes from the needs of domestic and international tourists. Today's tourists require and demand more, more strict, and more high-end service and utility standards. Tourists want to enjoy the most utilities in a limited period of time during their vacation, not to mention the trend of all 3 generations "Grandparents - Parents - Children" traveling together... Only large-scale, integrated tourism real estate types“All – in – one”can meet and serve these desires.

In fact, the All in one model has been very successful in the world, through projects that attract millions of visitors each year such as: Sentosa - Singapore, Genting - Malaysia, The Palm Atlantic of DuBai - UAE...

Vietnam is not out of that trend. All-in-one projects are invested to compete, attract more international tourists to Vietnam, help tourists satisfy their needs of relaxation - experience - discovery - entertainment, from which tourists will stay longer, spend more and will come back a second time, even many times. This is the inevitable direction of tourism development strategy, shaping the way of developing tourism real estate.

With the experience of a business that has been operating for many years in the tourism industry, and now plays the role of an investor, what has Crystal Bay prepared before starting to develop the project to ensure the success of the operation process later?

Based on the strength of inbound tourism exploitation and more than 20 years of experience in the tourism industry, Crystal Bay grasps the world's tourism trends, market demand, researches the desires of domestic and foreign tourists, and forecasts future travel trends. Crystal Bay is always in the mindset of "innovation" to serve and pioneer the application of the "All in one" model for tourism project chains, contributing to expanding and perfecting its tourism ecosystem.

Crystal Bay not only develops pure tourism real estate but also builds a strategy to develop a tourism ecosystem and tourism infrastructure, competitive enough with other countries in the region and the world. On that basis, we always see great development opportunities for the Vietnamese tourism market.

Specifically, in the domestic tourism market, people's income is increasing, leading to an increase in demand for resort tourism and people's desire to enjoy new, unique, high-class utility services.

Looking at the international market, countries like Dubai, Singapore, Thailand, etc. do not have the rich natural potential like Vietnam, but they have developed the smokeless industry into a national strategy, attracting millions of visitors. Our Vietnam can do better if we know how to take advantage and seize the opportunity.

Based on this vision, we invest in developing a chain of integrated tourism real estate projects.“All - in - one”following the ApartHotel investment model, aiming to create a new destination instead of just a place to stay. Therefore, the project has a special competitive advantage and is very new in the market.

With the advantage of experience in developing a complete tourism ecosystem including transportation, travel, transportation, resorts, entertainment, shopping, vacation cards and member tourism real estate management brands, we are confident in the success of the project. Each of our projects has no pressure on customer demand, is different in amenities, and has quality in operations...

Therefore, projects-destinations such as SunBay Park Hotel & Resort Phan Rang, Sailing Bay Ninh Chu... will attract millions of visitors to Ninh Thuan and to Crystal Bay in the near future.

According to Mr. Truong, All-in-one projects with large-scale utilities will be the driving force for tourism development.

Creating new destinations in Asia

According to you, what criteria must an investor achieve to expect success when implementing large-scale resort projects, possessing a huge utility system and new experiences?

Investing in the tourism industry in general and tourism real estate in particular is a long-term investment field. In my opinion, the key criteria for a successful tourism project is sustainable investment and long-term exploitation, not being hasty and not placing short-term profit criteria as the investment criteria of the project. To do this, the investor must understand tourism to manage and operate, understand the world's tourism real estate investment trends, and grasp the needs of domestic and foreign tourists.

We identify as a follower, must do better than the predecessor, learn from the experience of the predecessor to do better, offer better products and services to better meet customer needs.

With these two criteria, Crystal Bay does not simply develop tourism real estate, but we invest in developing tourism infrastructure and tourism ecosystems in lands with rich development potential.

The resort market is increasingly attracting many prestigious "giants" to participate in projects, which is expected to create momentum to raise the level of Vietnam tourism. However, among a "forest" of projects like today, how can investors create a difference?

The government has made tourism the focus of national development, Vietnam's tourism advantages, and the potential for tourism growth in Vietnam is still very large. This proves that there are many prestigious "giants" participating in investing in tourism projects and tourism real estate.

To make a difference, the most important criteria for developing tourism real estate projects must ensure long-term sustainable exploitation, with a long-term investment vision to meet the needs of domestic and foreign tourists.

For example, in Ninh Thuan - the land of Crystal Bay with many large projects, we are simultaneously building a project to develop Ninh Thuan into a new destination in Asia. Completely new experiences will be developed for sustainable exploitation purposes such as the theme park (Theme Park), hot air balloon field, golf course and safari in Mui Dinh Eco Park desert, Outlet center following the Outlet Village model, Cultural, entertainment and art performance center, walking street along the sea "Phan Rang Beach Walking Street"...