The world's largest home 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 property developer John Hitchcox and international designer Philippe Starck with a mission to enhance lives through the creation of exquisite living spaces. YOO is now the world's largest residential design brand with 81 projects in 36 countries and a number of hotel design and management projects underway.
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 ticket for tourism and real estate developers.
Some of the factors that make the company optimistic about the Vietnamese market are that the Vietnamese economy is forecast to grow by 6.8% in 2019¹, a faster growth rate than China; and the middle class is expected to account for about a third of Vietnam’s population by 2020. This increase is driving the domestic real estate sector to grow strongly as many Vietnamese with economic conditions are looking for new investment opportunities.
By opening its first Southeast Asia office in Bangkok, YOO is now able to meet the growing demand for luxury residential design in Vietnam. The company will provide leading design services with creative vision to high-end real estate developers in the region. The company’s partnership with ONYX Hotel Group in Thailand will create many 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 Hospitality Conference (HVC) this April. The event, which will take place on April 10 and 11, 2019 at the Nikko Saigon Hotel in Ho Chi Minh City, will feature renowned speakers covering topics in tourism, hospitality and leisure.
“YOO is excited about the growth potential in Vietnam, a populous country with a growing middle class and a government that is facilitating a wave of investment and development,” said Mr. Millar. “We see a huge opportunity to bring YOO’s pioneering ideas to Vietnamese investors who are looking for innovative and design-led brands. YOO will bring something unique to the market. With the support of its own design studios, YOO will tap into the creative flair of design stars such as Philippe Starck, Marcel Wanders, Jade Jagger, Steve Leung and Sussanne Khan, and will partner with leading Vietnamese real estate developers to bring their visions to life.”
Vietnam’s tourism industry is growing rapidly, with international arrivals to Vietnam reaching a record 15.5 million² in 2018, up 20% from 2017. This has fuelled a wave of new hotel construction, with more than 23,000 new rooms currently under construction nationwide³ – accounting for nearly 25% of the current room supply.
However, this increase is not only seen in big cities like Hanoi, Ho Chi Minh City and Da Nang, but also in many emerging destinations such as Cam Ranh, Phu Quoc, Vung Tau, Quang Binh and many others. With a tropical climate and a stunning 3,260 km long coastline and pristine sandy beaches, it is no wonder that tourists and investors are flocking to Vietnam.
Branded residences are one of the fastest growing segments of the hospitality industry, and YOO is at the forefront with 13% of the total portfolio globally. YOO’s international team is now tapping into Vietnam’s lifestyle-driven market by providing branded residences and hotels to developers and property enthusiasts.
For more information about Vietnam Hospitality Conference (HVC) 2019, please visit the website:hospitality-asia.com/hvc2019.
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¹ Asian Development Bank (ADB) forecast
² Statistics of international tourist arrivals of Vietnam National Administration of Tourism (VNAT) in 2018
³ Report of Asia Pacific news channel STR February 2019
More information:
YOO is an international company currently operating in 36 countries with over 81 projects in its portfolio. Through its guiding collaborations with design icons such as Philippe Starck, Marcel Wanders, Jade Jagger, Steve Leung, Sussanne Khan and its own designers at YOO Studio, YOO partners and developers add value and visibility to their projects. Through services such as interior design, architecture, development, investment, marketing and branding, YOO creates distinctive and inspiring living spaces that are one of a kind.
YOO recently launched YOO Hotels and Resorts, a comprehensive design, marketing, branding and management service for developers with two groundbreaking visions: the bespoke services 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
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