Ho Tram condotel to benefit from new travel trends
Ho Tram condotel to benefit from new travel trends
Nha Trang, Danang, and Phu Quoc are witnessing a boom in the condotel business segment. However, in Vietnam, the trend now is of short trips and self-discovery drives, and these places do not really fit the bill. However, Ho Tram Strip and its new addition, Ramada Kahuna, are the next promising destination for investment in condotels.
Short trips are soaring, investment flows into condotels shift
According to the Visa Global Travel Intentions (GTI) survey, Vietnamese tourists make the shortest trips in the world. This is also borne out by Intage Vietnam’s survey (of 400 people in Ho Chi Minh City and Hanoi) which found that nearly 50 per cent opt for short trips during weekends and special occasions.
These surveys suggest that short trips and self-discovery drives are becoming increasingly popular. Therefore, resorts situated close to major cities with convenient transportation are likely to be the most popular.
To be attractive, a resort must not only have beautiful landscaping and outstanding design, but also offer convenient transportation options. To meet this new demand, investors are scouring for new locations near major cities like Hanoi and Ho Chi Minh City. In the event, Ho Tram (Ba Ria-Vung Tau) is emerging as an ideal choice.
This is a necessary shift if one looks around at other tourism real estate markets like Thailand. Compared to real estate projects in areas that can only be reached by airplane, those in places within a 2- or 3-hour drive from Bangkok (like Pattaya and Huahin) are much more marketable.
Thanks to the excellent roads and its location only two hours from Ho Chi Minh City, Ho Tram has a head start in this new travel trend of short trips and self-discovery drives. According to the developer's report, Ho Tram attracts more than 200,000 visitors a year. On some occasions it cannot accommodate all the visitors who arrive.
When the Long Thanh International Airport opens in 2022, well-positioned places in the Southern Key Economic Quadrangle—like Ho Tram—will have a great access advantage and excellent growth potential. In addition, Ba Ria-Vung Tau province has given approval to Ho Tram Project Company Limited to build a private airport at Loc An (at a cost of over VND4 trillion–$170.6 million) to meet Ho Tram Strip’s air transport demand.
These advantages underscore Ho Tram's breakthrough development and promising future. It will surely be a "cash cow" for investors who want to own property not only for their own holiday use but also for third party rental profit and capital appreciation.
Attractiveness of Ramada Kahuna Ho Tram Strip
Ramada Kahuna Ho Tram Strip is the fifth development in the multibillion-dollar integrated resort called Ho Tram Strip, developed by Canada’s ACDL.
It has an entertainment complex that offers a full range of premium services from golf to casinos to a variety of dining experiences. It is one of the largest foreign-invested tourism projects in Vietnam ($4.2 billion committed, $1.1 billion disbursed already).
Ramada Kahuna Ho Tram Strip is attractive thanks to its location with easy access to highways and an international airport, well-developed infrastructure, and, especially, strong support from the multibillion-dollar complex Ho Tram Strip.
Besides, Wyndham, the world’s largest hotel operator, will take full advantage of its potential and is committed to helping Ramada Kahuna reach a high average occupancy all year round. Its offer of an 8 per cent return for the first two years and 9 per cent for the next two years is also appealing to experienced investors. These numbers are well within global returns for this asset class.
Ramada Kahuna Ho Tram Strip has a 12-storey condotel with 164 apartments of one to two bedrooms and 44 high-end villas of 218-223 square metres, close to the sea. Investors can pay affordable prices to enjoy world-class amenities and services at the multibillion-dollar Ho Tram Strip.
They can also support the growing trend of short vacation trips. Thu Thiem Real is the strategic advisor and exclusive agent for the project.
