Laguna Lang Co Reports First Sales

Posted on November 18, 2011 by Roy

The developers of Laguna Lăng Cô have followed on the Angsana Properties Lăng Cô Sales Launch in late September with notice of the first property purchases, and a timeline for resort and golf course openings in 2012.

Developed and managed by the Banyan Tree Group, Laguna Lăng Cô will, upon completion, be the first fully and legitimately integrated destination resort in Vietnam. It will also be the largest, with more than 2,000 hotel keys under the management of eight international branded hotel and resort operators, award-winning spas, an 18-hole championship golf course designed by Sir Nick Faldo, resort residences, convention and recreational facilities.

Banyan Tree Group marked an important milestone in the success of this project when, on 23 September, the first investor purchased a Pool Deluxe apartment at Angsana Properties Lăng Cô. Mr. Michael Ayling, Managing Director of Laguna Resorts & Hotels PLC, indicated this first sale and others are consistent with Banyan Tree Group’s expectation that 70 percent of Phase I buyers would be Vietnamese nationals.

“The level of customer interest prior to and throughout the late-September launch was very high indeed, so it was gratifying to confirm this first sale and reserve several more,” said Ayling, who spoke on site in Lăng Cô, along with the golf course designer Nick Faldo, to a gathering of around 40 domestic and international media.

“We fully expect the participation of international buyers at Laguna Lăng Cô, especially in later phases,” Ayling continued. “However, we’re convinced this first phase will appeal especially to the Vietnamese, who know a sound investment when they see one and already recognize Lăng Cô to be an especially beautiful and convenient perch on the Central Coast.”

Phase I of Laguna Lăng Cô is comprised of three key components:

• Angsana Properties Lăng Cô is the initial Phase I product to be launched. It is a condominium-style resort with a total of 197 units, to be open in mid 2012.

• The Nick Faldo 18-hole Championship golf course will come second. It too, is slated for a grand opening in the second quarter of next year.

• Banyan Tree Lăng Cô, a sophisticated portfolio of 129 high-quality villas designed in harmony with the surrounding landscape, will launch sales in early 2012.

It’s worth noting, Ayling explained, that sales at Angsana Properties Lăng Cô were initiated only when construction of the apartments were all but complete; only the furnishing aspect remains. Unlike many resort ventures, in Vietnam and elsewhere, construction progress at Angsana Lăng Cô is funded through an internal development fund in excess of US$200 million, meaning the realization of the property component, the resort and golf course are not dependent on property sales.

According to Ayling, this first apartment owner at Angsana Properties Lăng Cô, and all those to follow, are all entitled to membership in the Angsana Properties Owners Club, wherein members can book complimentary stays at other Banyan Tree and Angsana resorts around the world.

More relevant to their investment, owners are guaranteed a 6% fixed return for 6-years, and 60 days of complementary use every year. When owners are offsite, Ayling explained, purchased properties are included in the hotel inventory, where Angsana management looks after the investment.

“This is the formula that has proved so successful at our flagship development, Laguna Phuket,” Ayling said. “We at Banyan Tree didn’t invent the dynamic, but I daresay that no one in Asia has deployed it more effectively on behalf of real estate investors. The Banyan Tree brand is well-known for its prestige all over the world— it signals luxury and signature Asian heritage to resort guests, whose attraction to the resort in turn complements and enhances the investment in villa ownership.”

The long-standing nature of Banyan Tree’s involvement is another key differentiator, Ayling continued. “Many hotel and resort operators lend their names to resort property ventures, where units are included as part of hotel inventory,” he said. “But the length of a typical hotel or resort operations contract is only 8-10 years. What happens when those recognizable brand names disassociate from the resort? Where does the new hotel brand leave the real estate investor? Laguna Phuket, for example, was founded in 1987, and the Banyan Tree brand has never left its management to anyone else. That is the long-term brand commitment we offer here at Laguna Lăng Cô.”

Returning to Lăng Cô for the second time in 12 months, Faldo was able to inspect the rough shaping work now complete on 14 of the 18 holes. “This golf course is shaping up nicely and already has some wonderful movement,” said the 6-time major champion, following his September site visit. “The diverse character of the terrain allowed us to incorporate some very interesting and unusual features.

“In addition to several views of the ocean, golfers will experience the course’s amphitheatre-like mountain backdrop and the rich variety of woodland, scrub and rocky outcrops that feature throughout the round,” Faldo added.

World Travel Awards celebrates success of Asian tourism in Bangkok

Posted on September 29, 2011 by Roy

World Travel Awards celebrates success of Asian tourism in Bangkok

Asia’s role in leading the global travel and tourism recovery has been acknowledged at a gala ceremony hosted by World Travel Awards in Bangkok earlier.

VIPs, senior tourism leaders, captains of industry and international media travelled from over 30 nations across the region to attend the WTA Asia & Australasia Ceremony 2011 at Dusit Thani Bangkok.

Malaysia Airlines overcame stiff competition from Cathay Pacific, Singapore Airlines, Japan Airlines, Thai Airways and Air China to collect “Asia’s Leading Airline”.

Meanwhile India saw off the likes of Bali, Korea and Sri Lanka to win “Asia’s Leading Destination”; while Trident Gurgaon was voted “Asia’s Leading Hotel”.

Korean Air was voted “Asia’s Leading Airline First Class” and the new super luxury hotel Oberoi Gurgaon collected “Asia’s Leading Luxury Hotel”.

Thailand, which played host to WTA for the first time, enjoyed a large slice of the evening’s honours, reflecting its growing role as a travel and tourism hub of Asia.

Alex Willats, acting general manager, Dusit Thani Bangkok, collects the award for Asia’s Leading City Hotel from WTA vice president David Falcon

Home-grown winners included Bangkok Airways (Asia’s Leading Regional Airline); Six Senses Hideaway, Samui (“Asia’s Leading Honeymoon Resort”); and Bangkok (“Asia’s Leading Meetings & Conference Destination”).

It was also an evening of travel triumph for Australasia. Among the big winners were Air New Zealand, which was voted “Australasia’s Leading Airline”, Bora Bora, French Polynesia named “Australasia’s Leading Destination” and Sheraton on the Park, Sydney, which picked up “Australasia’s Leading Hotel”.

The industry’s elite travelled from over 30 countries across Asia and Australasia to attend the glittering gala ceremony. The raft of media in attendance included CNN, Thailand Tatler, Bangkok Post, National Geographic Traveller and Lonely Planet.

Ahmad Jauhari Yahya, managing director, Malaysia Airlines, collects the WTA award for Asia’s Leading Airline

World Travel Awards president Graham Cooke underlined the incredible strength of the region’s travel and tourism economy.

He said: “Asia is powering the global travel and tourism recovery, and tonight’s winners represent the very cream of our industry.

“The burgeoning middle classes in markets such as India, China and Malaysia are fuelling a surge in intra-Asia travel.

“We expect this growth to continue for at least the next decade, making the future very bright indeed for Asia’s luxury hospitality sector.

“Thailand, in particular, is reaping the rewards of the changes sweeping across the region thanks to its culture, amazing beaches and world-class facilities.”

World Travel Awards rewards excellence in tourism from across the region

The famed Dusit Thani Bangkok played host to the ceremony.

For 41 years, the 517-room five-star property has served as a social and business landmark in Thai capital.

Alex Willats, acting general manager, Dusit Thani Bangkok, said: “It was a marvellous honour for Dusit Thani to play host to this blue riband event in Asia and the opportunity to showcase our unique Thai hospitality to the world.

“To become the recipient of a regional World Travel Award is indeed recognition of our staffs dedication to service and of Dusit Thani Bangkok which continues to remain a preferred hotel in Asia” – Alex Willats

The Asia & Australasia Ceremony marks the fourth leg of World Travel Awards 2011 Grand Tour, and follows the legs in Dubai, UAE; Antalya, Turkey; and Sharm El Sheikh, Egypt; while Montego Bay, Jamaica will play host to the final heat on October 29th.

The regional winners will then progress to the Grand Final at the end of the year.

The event partners were Dusit Thani Bangkok, Tourism Authority of Thailand, Thailand Convention & Exhibition Bureau, BBC World News and WeClickMedia, and the media partners included eTurboNews, Breaking Travel News, Trav Talk and Travel Daily News.

For a full list of winners at World Travel Awards 2011 Asia & Australasia Ceremony visit the official website.

To view all images from the ceremony click here.

Foreign investors cautious about Vietnam’s property market

Posted on September 8, 2011 by Roy

Foreign investors say Vietnam’s property market has great potential, but they still cautious about the outlook due to the economic turmoil.

Statistics show foreign direct investment (FDI) investments in Vietnam’s property market comprise 25 percent of the total.

Foreign investors registered to carry out 669 property projects with the total investment of $60 billion in the first half of the year. Most of them are located in Ho Chi Minh City.

VinaCapital says foreign investors are keeping a close eye on technical indicators, such as the Kearney Index, before pouring into the local real estate market.

Foreign investors still stand on the sideline as Vietnam’s macro economy remains negative.

Phan Huu Thang, vice chairman of the Vietnam Real Estate Association, says many projects worth billions of US dollar are still uncompleted while many investment permits are being withdrawn

Among those projects are Bai Bien Rong (Dragon Beach) in the central province of Quang Nam, with the registered investment of $4.15 billion, and Ho Tram Asian Coast in the coastal province of Ba Ria – Vung Tau.

VinaCapital says that foreign investors still hesitate to enter the local market as they remain cautious about inflation, the government’s credit growth cap of 20 percent, high lending rate of 22-25 percent per annum, a strong dollar and the state-owned firms’ low business efficiency.

The investors will become much more eager only if these factors are improved, the investment fund says.

Statistics show the FDI flow worldwide is getting dramatically weaker this year.

Yet international investors are favouring emerging markets, such as India, Indonesia, Vietnam and Thailand.

Vietnam ranks second among the most attractive investment destinations in Asia after China and 12th among the world’s top 20 favorite place of FDI investors.

Figures from the investment fund VinaCapital indicate that more than 10,000 FDI-led investment projects worth US$170 billion were registered in Vietnam in the period between 2000 and 2010.

This year’s amount is expected to fall around 30 percent to $13 billion, with about $11 billion being disbursed.

Taiwan is the biggest FDI investor, followed by Korea, Singapore, Japan and Malaysia.

Analysts say, despite a large foreign investment flow in the last 10 years, the disbursement rate remains low, amounting to an average of around 58 percent. The flow this year mainly comes from Singapore, Hong Kong and Malaysia.

La Residence Hue joins MGallery

Posted on August 23, 2011 by Roy

EIGHT decades after French architects imagined an exquisite mansion in the heart of Vietnam, their vision is now fulfilled as La Residence Hotel and Spa joins the elite MGallery Collection – a collection of memorable and unique hotels by Accor.

Introduced in 2008 by Accor, the largest international hotel operator in Vietnam, the hotels and resorts in the MGallery Collection are chosen from thousands of upscale properties on the basis of outstanding design, vision, history or location.

World-traveller and actress Kristen Scott Thomas is the ambassador for the MGallery portfolio of properties, which numbers 45 unique hotels on five continents with the inclusion of La Residence Hue.

The 81-year-old boutique hotel is the third property in Vietnam to become a member of the MGallery Collection, and the first in the country to join the MGallery roster of historic hotels, alongside time-honored establishments such as the Covent Hotel in Amsterdam, the Grand Hotel Beauvau in Marseilles, and the Hotel Frances in Santo Domingo.

Besides its heritage background, the hotel also boasts strong design connections borne of its architectural roots. At the height of the art deco movement in 1930, the mansion at 5 Le Loi in Hue was built as part of the French Governor’s official residence in the former colony of Annam.

Over time, the hotel, with its distinctive bowled façade, long horizontal lines and nautical flourishes, has become a Hue landmark and a destination in its own right. With 200m of frontage along the south bank of the fabled Perfume River, the hotel’s terraces, gardens and ample banks of windows offer outstanding views of Hue’s Flag Tower bastion and Trang Tien Bridge.

Inside, the hotel’s age-old ambiance is evoked by a fusion of art deco styles. In three, linked buildings, the hotel’s 122 guest rooms and suites blend old-world charm with Asian opulence. Nostalgic touches like louvered shutters, hardwood floors and lofty ceilings evoke the romance of the Indochine era, encouraging guests to take a step back in time.

The Signature Suites – including the palatial, 76-square-metre Resident’s Suite – are a collection of individually designed and uniquely decorated spaces.

In the centre of the hotel’s main building is Le Gouverneur Bar, where a spectacular mural by Roland Renaud arches over the room, depicting scenes of Vietnamese daily life. The hotel’s fine-dining restaurant, Le Parfum, serves up a blend of Mediterranean cuisine with strong French overtones, plus traditional Vietnamese dishes.

Celebrated throughout the region as one of the few monumental hotels still operating in Vietnam, the MGallery distinction is not the first time La Residence has been lauded by industry experts.

In 2009, La Residence received special recognition by the Andrew Harper’s Hideaway Report. The review singled out the hotel’s “exceptionally inviting” 30m saltwater swimming pool, its “beautiful, custom-made furniture,” and its “engaging and efficient” service.

La Residence also earned a spot on the prestigious Conde Nast Hot List in 2007 – an award typically won by newly-opened properties — while the hotel’s wellness facility, Le Spa, was named one of Conde Nast’s Hot Spas for 2007.