Vietnam has become a new key market for YOO's residential design.

The world's largest residential design brand will bring renowned designers and unique ideas to one of Asia's fastest-growing economies.

The UK-based company was founded by leading real estate developer John Hitchcox and international designer Philippe Starck with a mission to elevate living through the creation of sophisticated living spaces. YOO is currently the world's largest residential design brand with 81 projects in 36 countries, along with numerous ongoing hotel design and management projects.

Building on these foundations, YOO is now planning to introduce innovative housing trends in Vietnam, one of the world's most exciting emerging destinations and a golden opportunity for tourism and real estate developers.

Several factors contribute to the company's optimism regarding the Vietnamese market, including the projected 6.8% growth of the Vietnamese economy in 2019¹, a faster rate than China; and the projected increase in the middle class to approximately one-third of Vietnam's population by 2020. This growth is driving strong development in the domestic real estate sector as more affluent Vietnamese seek new investment opportunities.

By opening its first Southeast Asia office in Bangkok, YOO can now meet the growing demand for high-end residential design in Vietnam. The company will provide leading-edge, visionary design services to the region's luxury real estate developers. The partnership with ONYX Hotels Group in Thailand will create numerous opportunities for the two hotel brands, YOO Collection and Yoo2, to develop future projects.

Rich Millar, Vice President of Business Development for YOO Worldwide Asia Pacific, who is responsible for driving the company's expansion, will be speaking at the Vietnam Hotel & Tourism Conference (HVC) this April. The event, taking place on April 10th and 11th, 2019 at the Nikko Saigon Hotel in Ho Chi Minh City, will bring together renowned speakers to present on topics related to tourism, hospitality, and leisure.

Mr. Millar said, “YOO is very excited about the growth potential in Vietnam, a populous country with a growing middle class and a government that is creating a favorable environment for investment and development. We see a great opportunity to introduce YOO's pioneering ideas to Vietnamese investors who are looking for innovative and design-leading brands. And YOO will bring uniqueness to the market. With the support of our own design studios, YOO will leverage the sophisticated creativity of design stars such as Philippe Starck, Marcel Wanders, Jade Jagger, Steve Leung, and Sussanne Khan, and will collaborate with leading Vietnamese real estate developers to realize their vision.”

Vietnam's tourism industry is growing rapidly, as evidenced by the record-breaking 15.5 million international visitors to Vietnam in 2018, a 20% increase compared to 2017. This has fueled a wave of new hotel construction, with over 23,000 new rooms currently under construction nationwide – accounting for nearly 25% of the current room supply.

However, this increase is not limited to major cities like Hanoi, Ho Chi Minh City, and Da Nang, but also extends to many emerging destinations such as Cam Ranh, Phu Quoc, Vung Tau, Quang Binh, and many others. With its tropical climate, stunning 3,260 km coastline, and pristine beaches, it's no surprise that tourists and investors are flocking to Vietnam.

Branded residential properties are one of the fastest-growing segments of the hospitality industry, and YOO consistently leads with 13% of its global portfolio. YOO's international team is now entering Vietnam's lifestyle-oriented market by offering branded residential and hotel properties to developers and interested parties.

For more information about the Vietnam Hotel & Tourism Conference (HVC) 2019, please visit the website:hospitality-asia.com/hvc2019.

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1. Forecast by the Asian Development Bank (ADB)

² Statistics on international tourist arrivals by the Vietnam National Administration of Tourism (VNAT) in 2018

³ Report by STR Asia Pacific news channel, February 2019

Additional information:

YOO is an international company currently operating in 36 countries with over 81 projects in its portfolio. Through forward-thinking collaborations with design icons such as Philippe Starck, Marcel Wanders, Jade Jagger, Steve Leung, Sussanne Khan, and the company's designers at YOO Studio, YOO's partners and developers enhance the value and vision of their projects. Through services including interior design, architecture, development, investment, marketing, and branding, YOO creates unique and inspiring living spaces.

YOO recently launched YOO Hotels and Resorts, a comprehensive design, marketing, branding, and management service for developers, with two groundbreaking visions: the bespoke service of YOO Collection and the elegant luxury of YOO2. YOO Hotels creates distinctive design experiences inspired by the destination itself.

For more information, please visit:www.yoo.com

The Phong