Hoi An South Development Ltd Invests $1 Billion to Expand Hoiana Resort & Golf in Quang Nam Province
In a significant commitment to enhance tourism infrastructure in Vietnam, Hoi An South Development Ltd recently announced a pledge of $1 billion to expand the Hoiana Resort & Golf in Quang Nam Province. This monumental investment, disclosed during a meeting on October 17 with provincial lawmakers, is aimed at solidifying the region’s reputation as a top-tier tourist destination in Southeast Asia.
The Vision for Hoiana Resort & Golf
Established in 2020, Hoiana Resort & Golf is an integrated resort that has quickly earned the title of "Asia’s leading fully integrated resort." The project, which broke ground in 2016, marked its first phase with the opening of four five-star hotels, a casino, fine dining restaurants, and a links-style golf course designed by Robert Trent Jones Jr. The commitment of VND25.4 trillion (approximately $1 billion) will bolster the resort’s offerings, ensuring its continued growth and appeal to both local and international tourists.
Steven Wolstenholme, president and CEO of Hoi An South Development Ltd, emphasized the importance of this investment during recent discussions with other foreign-invested enterprises (FIEs). By enhancing Hoiana’s facilities and features, the company aims to attract even more visitors to the already stunning and culturally rich Quang Nam Province.
A Cultural Gem in Quang Nam Province
Quang Nam Province is a treasure trove of natural beauty and cultural heritage. Located just 30 kilometers south of Da Nang, the region is home to two UNESCO World Heritage sites: the ancient town of Hoi An and the My Son Sanctuary. Renowned for its picturesque streets, vibrant markets, and rich history, Hoi An was hailed by Travel+Leisure magazine as “the best city in the world” in 2019, only to rank fourth on the list of most-loved cities in 2024.
As an integral part of Quang Nam’s cultural landscape, the Hoiana Resort & Golf project complements the unique experiences offered by the ancient city, making it an ideal destination for travelers seeking both relaxation and immersion in rich local traditions.
Resilience Through Challenges
The journey of Hoiana Resort & Golf has not been without challenges, particularly in the face of the COVID-19 pandemic. The resort’s operations were significantly affected during the outbreak, and the company was forced to lay off two-thirds of its workforce in 2020. Remarkably, Hoiana managed to remain open throughout the pandemic and marked its grand opening in 2021, showcasing resilience in the face of adversity.
Through its strategic planning and operational adjustments, Hoiana welcomed more than half a million visitors within the first couple of years, with 80% of those being foreign tourists. Such success is a testament to the rich array of experiences and amenities offered, as well as the dedicated management team behind the scenes.
Economic Impact and Future Prospects
The investment in Hoiana Resort & Golf is not merely a financial endeavor; it has significant implications for the local economy. Wolstenholme noted that the resort has already contributed approximately VND101.6 trillion to the Vietnamese economy, with revenues adding roughly VND1 trillion to local government coffers in 2022-23, and an impressive VND396 billion in the first half of 2024 alone. This revenue represents a substantial 55% of total collections from foreign-invested enterprises in Quang Nam Province.
Looking ahead, the potential for increased tourism is bolstered by the proposed “Six Countries, One Destination” initiative, which aims to facilitate easier movement for travelers across Thailand, Cambodia, Laos, Malaysia, Myanmar, and Vietnam. This initiative, if implemented, would significantly enhance regional tourism, making it even more accessible for both domestic and international visitors.
Conclusion
The pledge made by Hoi An South Development Ltd to inject $1 billion into the Hoiana Resort & Golf is a pivotal moment for Quang Nam Province and its tourism future. As it continues to develop, Hoiana is poised to not only elevate the local economy but also establish Quang Nam as a truly premier tourist destination. With its rich cultural heritage, natural beauty, and now, enhanced resort facilities, the province is well on its way to attracting visitors from around the globe, paving the way for a brighter and more prosperous future in tourism.
