According to the content of the memorandum of understanding, the two sides agreed to extend the Novotel Phu Quoc Resort (NPR) for another 10 years and cooperate in operating 2 more Novotel-branded resorts at strategic locations nationwide, with a scale of nearly 1,000 rooms, aiming at international service standards. This is considered an important step, laying the foundation for realizing the CEO Group’s goal in the strategy of developing a high-end resort chain with a scale of 3,000 – 5,000 rooms nationwide in the coming years.

Previously, in 2014, CEO Group and Accor Group marked their first partnership through the implementation of the Novotel Phu Quoc Resort project – an international standard resort with many “top most/first” at that time such as “Accor’s top most rooms hotel in Vietnam”, “the hotel with the top most construction speed of the same scale in the global Accor system”, “the first Novotel-branded resort in Vietnam”, “the largest hotel in Phu Quoc and Kien Giang”, “the first and pioneer international hotel in Bai Truong”. After a period of operation, the resort has recorded impressive business results, room occupancy rates are high with miliions of guest experiences, creating many jobs for people, contribute hundreds of billion VND to the State budget through VAT and income tax... The resort has been honored with many prestigious awards and received increasingly positive reviews from domestic and international tourists. The success of Novotel Phu Quoc Resort has affirmed the effectiveness of cooperation between the two parties, while creating a solid foundation for the expansion of the Novotel brand resort chain in Vietnam.

The success of Novotel Phu Quoc Resort has affirmed the effective cooperation between CEO Group and Accor Group.

Speaking at the signing ceremony, Mr. Doan Van Binh – Chairman of CEO Group said: “Continued cooperation with Accor Group not only demonstrates mutual trust between the two sides, win-win in business but is also a suitable step in the strategy of developing a green and sustainable tourism – resort ecosystem of CEO Group to increase corporate value, enhance brand, diversify products, cash flow, revenue, profit, create more jobs, contribute more to the state budget, have a spillover effect on the economy, promote the country’s image globally. We expect the upcoming Novotel resorts to continue to bring high-class accommodation experiences, contributing to raising the position of Vietnamese tourism on the regional and world map.”

Mr. Jens Reichert, Vice President of Development of Accor Group in Thailand, Vietnam, Cambodia, Laos & Myanmar said: “We highly appreciate the prestige of CEO Group and are committed to jointly operate the 3 Novotel resorts at the highest level of the global Accor brand. Immediately after the signing ceremony, we will immediately start the specific work, request approval at relevant levels and sign the agreement based on this MOU”.

Overview of the Memorandum of Understanding signing ceremony
to operate the 3 Novotel resorts in Vietnam between CEO Group and Accor Group

The signing ceremony took place in the context of the strong recovery of the tourism and hotel industry in Vietnam and the new wave of investment in high-end resort products. In that picture, the Novotel brand – with more than 530 hotels in 65 countries around the world – affirms its competitive advantage thanks to its modern design, globally consistent services, and flexible response to customers’ accommodation and resort needs. The deployment of the Novotel hotel chain at this time not only helps increase the supply of high-quality accommodation, but also creates more momentum to promote tourism growth in localities.

After the signing ceremony, the two sides will quickly take the next steps to implement the work according to the set roadmap, aiming to operate NPR more effectively, improve customer experience, keep assets in good condition, and soon put new resorts into operation in Accor’s global network, according to the investment and development plan of CEO Group./.