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JANUARY – MARCH 2020
RESORTDEVELOPER.COMVACATION INDUSTRY REVIEW
Location, Location, Location
Launched in 2018, LiV Resorts comprises 44 one-, two-, and three-bed-
room shared ownership apartments at Citadines Pearl Hoi An, a 21-acre
(8.1 hectares) mixed-use resort development just outside Da Nang, the
largest city in central Vietnam.
“We situated our property within Citadines Pearl Hoi An because its
wide array of amenities appeals to consumers of all ages, making it an
ideal venue for our new program,” says Nguyen Ky Tam Anh, CEO.
One of multiple luxury developments along the South China Sea
coast, the resort overlooks idyllic An Bang Beach, named one of the
top 25 beaches in Asia by TripAdvisor in 2019. Just beyond the beach
lies a lush, palm-shaded lawn with an expansive freeform swimming
pool, a children’s pool, and an alfresco beachfront restaurant and bar.
There is a larger restaurant near the hotel.
The crown jewel of the property, however, is a luxury shopping mall
covering 5 acres (2 hectares) — the first in Vietnam to reside in a resort
development. With more than 128 boutiques, restaurants serving local
and international cuisine, bars, coffee shops, and a 500-seat movie
theater, it is a major draw in its own right.
Delivering on Promises
But wooing Vietnamese prospects who are new to the concept of vaca-
tion ownership takes more than the trappings of a luxury vacation. LiV
Resorts’ biggest competitive advantage may be that it is ready to deliver
on its promises — and to fulfill its mission of inspiring and empowering
the next generation of Vietnamese families to make travel a lifestyle.
“Even though vacation ownership entered the market around five
years ago, up to now none of the developers have delivered what they
sell to clients,” says Nguyen. In Vietnam, property can be pre-sold once
the foundations — the infrastructure, streetlights, and landscaping — are
completed, which has led some timeshare developers to finalize sales
before construction permits are even issued.
“All they give the client is a promise,” Nguyen says, pointing out that
LiV Resorts “actually delivers a high-standard vacation ownership prod-
uct to the client in Vietnam.”
A Market Ripe for Timeshare
In the first two years since its launch, LiV Resorts has focused on tapping
a rich vein of domestic prospects — young, affluent Vietnamese families
that comprise 60 percent of Vietnam’s population of almost 100 million.
“It’s a very desirable market for vacation ownership and for tourism
in general,” Nguyen says. “Vietnamese tourists demand higher quality for
their travel. It’s increasing every year. They stay longer, they spend more
money on their holidays, they travel with a bigger group.”
LiV Resorts raises awareness of the resort with weekly ads in
VnExpress
, Vietnam’s top e-newspaper, and targets and educates pros-
pects about the benefits of ownership via social media.
With Facebook — arguably the most popular platform in Vietnam,
according to Nguyen— LiV Resorts has the ability to personally engage
with individuals who have a question or concern about the quality of the
product.
At the same time, a small sales team travels to markets throughout
Vietnam to engage with individuals face-to-face. Interested prospects
are invited to enjoy a two-day stay at Citadines Pearl Hoi An, to experi-
ence the product first-hand.
The elegantly furnished timeshare apartments with balconies and
stunning sea views are hard to resist. Three different floorplans — rang-
ing in size from 667-square-foot (62 square meters) one-bedroom suites
to 1,452-square-foot (135 square meters) three-bedroom residences —
meet the needs of everyone from couples to multigenerational families. (In
the latter example, Nguyen says that there is a clear trend in families vaca-
tioning together, a perfect opportunity for vacation ownership.) All units
are also equipped with state-of-the-art amenities, including plasma TVs.
International Potential
With Da Nang International Airport just 30 minutes away, LiV Resorts
is also well-positioned to court international arrivals from China, Japan,
Korea, Thailand, and Singapore.
“We can integrate with Asian countries, and also with the Hong
Kong and Chinese market. It’s a very important potential market,” says
Nguyen.
Neighboring Mainland China has become Vietnam’s primary source
for tourists in recent years, thanks in part to a relaxed border cross-
ing agreement between the countries where passports or visas are
not required. Approximately 5 million Chinese tourists visited Vietnam
in 2018 — a 24 percent increase over 2017 — accounting for nearly