Why Carlson Rezidor sees opportunity in Vietnam

Carlson Rezidor Hotel Group has signed a management contract with Eurowindow Nha Trang Investment and the Tourism Joint Stock Company to develop the Radisson Blu Cam Ranh Bay in Vietnam, the brand's first property in the country. The hotel is currently slated to open in the first quarter of 2019.

As it looks to grow in Vietnam, Carlson Rezidor is reportedly looking to focus on tier-1 cities and resort destinations, as well as second-tier cities. Carlson Rezidor is currently pursuing development opportunities in Hanoi, Ho Chi Minh City and Danang, while also exploring upcoming destinations such as Phu Quoc, Hue, Dalat, Quy Nhon, Mui Ne, Sapa, and Hai Phong.

The Vietnamese government is reportedly looking to accelerate infrastructural projects and has set aside of a $100 million to promote tourism. With more domestic flights and relaxed visa regulations, the country may see increased interest from global brands. According to the Vietnam National Administration of Tourism, the country saw 7,874,312 international visitors in 2014, a 4 percent increase over the previous year. For the first half of 2015, the number of international visitors arriving in Hanoi was 8.8 percent higher than the same period last year, while Ho Chi Minh City saw a 3 percent rise in international arrivals over the same timeframe.