Michael Piro shares insight into hotel branded residences in HIF Forum

HOSPITALITY INDOCHINA FORUM (HIF 2018) April 10-11, 2018 @Hotel Nikko Saigon, Ho Chi Minh City, Vietnam

Indochina, spearheaded by Vietnam, Cambodia and Thailand, is increasingly appealing for hotel investment due to its strong economic growth. The quality of infrastructure and hotels in Vietnam, Myanmar and Cambodia has improved considerably over the last few years, and this has led, and will continue to lead, to a more stable and resilient tourism market. Thailand and Singapore are at the centre of Asia’s growing travel and tourism industry, this no doubt signals exciting times ahead. Foreign direct investment (FDI) in Vietnamese real estate is experiencing strong growth in the past year, and hotel investment is riding that growth.

Hospitality Indochina Forum (HIF) is part of Escom’s Asia Hospitality Series Events and the 2018 event has been the 3rd Annual edition in Vietnam. It was an astounding Conference serving the tourism leisure industry, Hospitality industry professional which covered the topics of New Tourism Destinations, Hotel & Resort Investment, Design, Project Development & Lifecycle Asset Management, Hotel Management, Technology Deployment, Tourism Marketing & Distribution and a lot more.

As a leader and pioneer in the hotel branded residences market, Michael Piro, Indochina Capital’s Chief Operating Officer, was invited to join the panel “Opportunities and Pitfalls in Including Branded Residences in your Hotel Development”, moderated by Vice President of Onyx Hospitality Group together with two other panellists from Clyde & Co and MIK Group.

Interestingly, the panel discussion took place in the form of an exciting Jeopardy game themed around branded residences among the three panellists. During the game, Michael provided his insight into the hotel branded residences market and shared experience in developing and selling successfully some of the first branded residences in Vietnam including The Four Seasons Nam Hai Residences in Hoi An, Six Senses Con Dao Residences and the Hyatt Regency Danang Residences. Michael also delved into key issues that should be considered to avoid the pitfalls of hotel branded residences, including transparency over the operations of the residences, clarity of purchase agreement, conservative investment return projections, and consideration of local laws. 

As the preemient authority in Vietnam hospitality and in branded residences, after 40 minutes competing directly with the other panellists, Michael won the game with the admiration of all the participants.