BIM Group’s Regent Residences Phu Quoc will be the first six-star resort in Phú Quốc Island and will be completed by 2020.
Officially making its debut in HCM City on December 23, the resort promises a luxurious holiday experience to tourists.
The Regent Residences Phu Quoc project, a brand of the Asia-based global luxury hospitality chain Regent Hotels and Resorts, will be implemented by Hòa Bình Construction Joint Stock Company, the only contractor that was honoured with the title of “national brand” for five consecutive years.
Regent Residences Phu Quoc is another addition to a line-up of projects for which Vietnamese developer BIM Group has joint hands with other global brands to develop.
BIM Group is among the few developers with a rich experience in cooperating with global brands for managing property developments meeting international standards. In the past, the group has cooperated with popular brands such as InterContinental Hotel Group, Frasers Hospitality Pte Ltd., and The Ascott Limited.
Fraser Suites, a service apartment building in Ha Noi in the heart of Tây Hồ District, which is a result of cooperation between BIM Group and Frasers Hospitality Pte Ltd, always has an occupancy rate of more than 95 per cent. BIM Group has also partnered with InterContinental Hotels in the hospitality business not only in Việt Nam but also in Laos. These include Crowne Plaza Vientiane, the first five-star hotel in Laos which became operational in April 2017, and InterContinental Phu Quoc Long Beach Resort, which is expected to start operations soon. BIM Group is also gearing up a plan to start the first Holiday Inn hotel in Laos.
BIM Group is the strategic partner of The Ascott Limited, one of the world’s largest service apartment operators, which owns thousands of hotel rooms and luxury service apartments in Hà Nội, HCM City, Hải Phòng, Nha Trang and Đà Nẵng.
According to Nguyễn Văn Đính, general secretary of the Việt Nam Association of Real Estate Brokers, luxury tourism is still new to Việt Nam.
To boost the concept, developers should cooperate with international brands to gain management experience and enhance service quality, Đính said. “However, cooperating with big brands is not easy. This requires property developers to have adequate capacity,” he said.
BIM Group started business in Phú Quốc Island in 2005 with the 155ha Phu Quoc Marina complex. Its intention was to develop the island into a resort island on a par with international standards.
Phu Quoc Marina runs along 1km of the Long Beach which is famous for the most beautiful sunset on the island.
The first component project of Phu Quoc Marina is InterContinental Phu Quoc Long Beach Resort, which will become operational by the end of this year. This is the first resort project of the InterContinental brand in Asia allowing individual ownership, with an outstanding revenue sharing policy of up to 40 per cent.
The second component project, Phu Quoc Waterfront, with 144 shophouses and boutique hotels, was introduced in early 2017 and was sold out within two months.
Regent Residences Phu Quoc, the third component project of Phu Quoc Marina, is expected to be another success. The luxury villa project has a total investment of some VNĐ2 trillion (US$87.7 million).
The cooperation between BIM Group and Regent Hotels & Resorts for the Regent Residences Phu Quoc project is expected to set a benchmark for a six-star resort in Việt Nam.
Under the current regulations of the country, the five-star rating is given to hotels meeting certain criteria, such as a minimum of 100 rooms, parking space meeting the demand of at least 50 per cent of the rooms, banquet hall, bar and round-the-clock services.
Regent goes beyond these requirements to provide a luxurious and unique experience to its customers.
Ralf Ohletz, Regent’s president of design and concepts, said that the core in resort business was not simply building a beautiful hotel but creating uniqueness.
Born in 1970, Regent has risen to become a symbol of timeless design and professionalism. With more than 40 years in service, Regent is proud to be the first Asian hospitality brand earning success in strict markets like Europe and the United States. Despite relatively high prices of $500-600 per night, Regent hotels worldwide always have high occupancy rates.
Regent Residences Phu Quoc covers 15ha, with 76 villas, 42 sky villas and 120 hotel rooms in simple yet elegant Vietnamese architecture.
The project received the International Property Award in the new hotel construction and design category in Bangkok in May.