Quản trị chiến lược Vinpearl

NATIONAL ECONOMICS UNIVERSITY
FACULTY OF TOURISM AND HOSPITALITY
___***___

GROUP ASSIGNMENT
Subject: Strategic Management in Tourism and Hospitality Businesses
Lecturer: M. Tran Thanh Dat
Topic: Strategic analysis of Vinpearl enterprise
Class: International hospitality management in English IHME
Intake: 61
Group members:
Phan Hải Nhật
Ngô Ngọc Diệp
Nguyễn Minh Đức
Nguyễn Thùy Mai Linh
Trần Ngọc Mai
Dương Thành Nam
Trần Khôi Nguyên
Vũ Tuấn Thành

Hanoi, April 2022


Table of Contents
ASSIGNED TASK.......................................................................................................1
MEMBER TRANSCRIPT..........................................................................................2
MEMBER EVALUATION..........................................................................................3
STRATEGIC ANALYSIS OF VINPEARL ENTERPRISE......................................5
Chapter 1. General introduction of Vinpearl enterprise...........................................5
1.1. General introduction of Vinpearl.........................................................................5
1.1.1. About the Enterprise......................................................................................5

1.1.2. Service structure............................................................................................5
1.2. The vision, mission and goal of Vinpearl.............................................................6
1.2.1. Vision............................................................................................................6
1.2.2. Mission..........................................................................................................6
1.2.3. (Short-term) Goals:.......................................................................................7
1.3. Main businesses..................................................................................................7
Chapter 2. External analysis.......................................................................................8
2.1. Macro environment – STEEP analysis................................................................8
2.1.1. Social development.......................................................................................8
2.1.2. Technological................................................................................................9
2.1.3. Economic......................................................................................................9
2.1.4. Environmental (Natural)..............................................................................10
2.1.5. Political.......................................................................................................11
2.2. Micro environment (5-forces framework)..........................................................12
2.2.1. Threat of New Entrants...............................................................................12
2.2.2. Threat of Substitutes....................................................................................13
2.2.3. Industry rivalry............................................................................................14
2.2.4. Bargaining power of suppliers.....................................................................14
2.2.5. Bargaining power of buyers........................................................................15
Chapter 3. Internal environment..............................................................................16
3.1. Core competences..............................................................................................16
3.1.1. International standard - Authentic Vietnam.................................................16
3.1.2. A pioneer applying technology in hospitality industry in Vietnam..............16
3.1.3. Diversified sub-brands catering the needs of each customer segment.........17
1


3.1.4. Cooperate with well-known hotel management companies and domestic
airlines................................................................................................................... 18
3.2. Unique resources...............................................................................................20

Chapter 4. SWOT analysis........................................................................................22
Chapter 5. Competitive strategy...............................................................................23
5.1. Price strategies..................................................................................................23
5.2. Differentiate strategies......................................................................................24
5.2.1. Brand image differentiate:...........................................................................24
5.2.2. Increasing brand’s accessibility by creating a “Vinpearl’s ecosystem”:......25
5.2.3. Seeking for partnership and penetrating new market - Vinpearl Travel
Russia:................................................................................................................... 25
5.2.4. Partnership with Melia Hotel International:................................................26
Chapter 6. Strategy suggestion for Vinpearl............................................................28
*REFERENCES:.......................................................................................................29

2


ASSIGNED TASK
Content

In charge
Thành Nam

General introduction of
Vinpearl enterprise

Tuấn Thành
Macro environment –
STEEP analysis

Ngọc Mai

Micro environment (5forces framework)

Ngọc Diệp

External environment

Mai Linh
Khôi Nguyên
Hải Nhật

Core compentences

Minh Đức

Internal environment

Thành Nam

Unique resources

Tuấn Thành
Hải Nhật

SWOT analysis

Minh Đức
Ngọc Mai

Competitive strategy

Mai Linh

Assess the suitability of
the enterprise's
competitive strategy

The whole group works
together

Strategy suggestion for
Vinpearl

The whole group works
together

Report

Ngọc Diệp

Powerpoint

Khôi Nguyên
Minh Đức

Present

Thành Nam
Tuấn Thành
MEMBER TRANSCRIPT

Numbe
r

Name

Hải
Nhật

Ngọc
Diệp

Minh
Đức

Mai
Linh

Ngọc
Mai

Thành Khôi
Nam
Nguyê

Tuấn
Thành
3


n

1

Hải
Nhật

x

10

10

10

10

10

10

10

2

Ngọc
Diệp

9

x

9

9.5

9

10

9.5

10

3

Minh
Đức

9

9

x

8.5

9

10

9.5

10

4

Mai
Linh

9.5

9

9

x

9

10

9.5

10

5

Ngọc
Mai

9.5

9

8.5

9

x

10

9.5

10

6

Thành
Nam

9

9.5

9

9

9

x

9.5

10

7

Khôi
Nguyê
n

9

9.5

10

9

9

10

x

10

8

Tuấn
Thành

9

8.5

8

8.5

9

10

9.5

x

MEMBER EVALUATION
Member

Score

Phan Hải Nhật

10

Peer review
Take on the role of leader, proactively remind

members to complete their work, evaluate and
comment on each member's work, and have a
high sense of responsibility.
4


Good quality of work, always complete task on
time.
Always punctual and professional.
10/10 would work with him.
High sense of responsibility.
Ngô Ngọc Diệp

9.4

Active participant in group discussions, she often
comes up with creative (sometimes weird) ideas.
Good attitude, complete task on time.

Nguyễn Minh Đức

9.3

Nguyễn Thùy Mai
Linh

9.4

Trần Ngọc Mai

9.4

Hard-working, very enthusiastic in work.
Good attitude, complete task on time.
Hard-working, fairly decent.
Good attitude, complete task on time.
Responsible, got the important information
across.
Good attitude, complete task on time.

Dương Thành
Nam

9.3

Rather quiet and mysterious but always care
about details, he is a very responsible and reliable
person.
Good attitude, complete task on time.

Trần Khôi Nguyên

9.5

Being too intelligent is his strength and also his
weakness.
Possess significant knowledge.
Good attitude, complete task on time.
A confident presenter.

Vũ Tuấn Thành

9

Good attitude, complete task on time.
Could put forth more effort.

5


STRATEGIC ANALYSIS OF VINPEARL ENTERPRISE
Chapter 1. General introduction of Vinpearl enterprise
1.1. General introduction of Vinpearl
1.1.1. About the Enterprise

Vinpearl Joint Stock Company, formerly known as Hon Tre Tourism, Trade and
Service Investment Development Co., Ltd
Established: July 25, 2001, according to the business registration certificate
issued by the Department of Planning and Investment of Khanh Hoa province.
Headquarters:
 Hanoi
 Ho Chi Minh City
1.1.2. Service structure
Vinpearl is the largest accommodation and entertainment service brands in
Vietnam.
It is now the owner of 45 facilities located at the most beautiful destinations
across the country with a capacity of over 18.500 rooms and villas.
The Vinpearl ecosystem offers an all-in-one experience, including a chain of
hotels and resorts, and amusement parks, safari, golf course, spa, cuisine, conference
center and modern shopping centers.

1.2. The vision, mission and goal of Vinpearl
1.2.1. Vision

6


As a member company of Vingroup, with a strategic focus on investment and
tourism business, Vinpearl strives to become one of the leading tourism companies in
Vietnam; displaying an outstanding vision with professionalism and high-class
qualities while tempting to build a worldwide tourism brand.
1.2.2. Mission
For the market: (Providing world-class tourist products and services with
distinctive individuality of Vinpearl)
For employees: (Creating a professional, dynamic, creative and fairly
competitive work environment for all employees)
For shareholders and partners: (Bring about beneficial values for the
shareholders)
For society: (Making efforts to contribute to community-oriented activities and
the development of Vietnam's tourism industry)
1.2.3. (Short-term) Goals:


Focus on high-end, large-scale complexes in prime locations and continue to
expand in strategic cities.



Regular revenue growth and targeting target customer segments.



Diversify and increase income from real estate.



Strengthening capacity development for sales, leasing, project management, and
internal real estate management.

1.3. Main businesses
Đọc trên slides
VinPearl has been contributing funds to high-end real estate investments in
Vietnam's most developed cities, and as a result, has garnered certain attention
throughout the continents, including: Vinpearl Phú Quốc Ocean Resort & Villas,
Vinpearl Empire Condotel Nha Trang, Vinpearl Condotel Riverfront Đà Nẵng,
Vinpearl Golfland Resort & Villas,…
Chapter 2. External analysis
2.1. Macro environment – STEEP analysis
2.1.1. Social development

7


Demographic: According to the General Statistic Office of Vietnam (newest
2022), Vietnam's population is approximately 98.77 millions people, ranking as the
15th most populous nation in the world. Therefore, the domestic market is relatively
huge for tourism companies, such as Saigontourist. A further advantage of the Vietnam
tourism market is that the country currently has a golden structure in population
because 51% of Vietnamese are in labor age. As a consequence, the travel demand is
remarkably growing. There is some information about consumers' behavior regarding
their travel to Vinpearl’s assets:

Market segment of Vinpearl is distributed from Urban areas of Vietnam and
Asia/ Europe/ America's countries, focusing on high income groups (especially leisure
travelers): aimed domestic customers whose household income is over 15 million
VND/month and international customers whose monthly income ranges from 1500$ to
3000$.
Customers mostly are native visitors coming from big cities of Vietnam and
international tourists from foreign countries (the standard of living of people in these
areas are high enough to look for the fulfillment of psychological needs).
According to the records updated till 2020, most tourists travel to Vinpearl for
the first time (accounting for 80.6%). There are also many tourists traveling over 5
times. 35.2% of tourists travel with their families, family size of 3-5 people; There is
not much difference with the number of people traveling with friends and colleagues
(accounting for 34.3%). 59.3% of tourists answered that they travel when their free
time is available and respondents find information through the media (accounting for
34.4%). Ecotourism is the type of tourism that tourists need to visit the most
(accounting for 60.2%).
Cultural: Vietnam has a long history of influence from the Chinese and the
French, Vietnam’s unique cultural tradition has made numerous visitors take interest in
it. Most Vietnamese are non-religious, with spiritual life based on honoring our
ancestors and nature. We have many holidays thanks to many golden historical events,
such as Hung Kings' Commemoration Day, Independence Day, Reunification Day,
Public holiday, and traditional events like Tet holiday. Consequently, people love

8


spending their time with their family and friends while traveling, an opportunity for
Vinpearl to expand the market.
2.1.2. Technological
Vinpearl became a pioneer applying face recognition technology in tourism and

hotel industry in Vietnam Vinpearl on April 15th, 2020 officially became the first
resort, hotel and entertainment system in Vietnam to apply facial recognition
technology based on artificial intelligence (AI).
The technology has been applied to help customers have new experiences such
as opening the door automatically, checking in within 3 seconds or paying for services,
all with a simple smile.
In the first phase, the application of facial recognition has been implemented at
Vinpearl Nha Trang and features check-in and check-out options at Vinpearl Land
entertainment areas and restaurants. This technology identifies and authenticates
customers’ identities accurately and quickly through observation devices without other
control procedures. The technology at Vinpearl possesses 5 pre-eminent advantages:


SPEED – identification within one second, large data processing

system with


MILLIONS of faces,



DYNAMIC security warnings in real time,



PRECISION – almost 100 per cent and



CONFIDENTIAL customer information at the highest level.

With the combination of Vinpearl’s 5-star services and the new technology,
visitors will enjoy three unprecedented experiences: check-in for the whole family at
the same time, passing through automatic gates and using personal privileges with the
highest privacy. The features of this technology help visitors minimize the waiting
time for procedures and the process of moving between Vinpearl’s internal areas.
2.1.3. Economic
Economic: As a member of the World Trade Organization, Vietnam's economy
increasingly booms into the global market. The GDP value of the country grew
significantly to 238 billion USD in 2018. That’s why GDP per capita showed a
dramatic improvement and peaked to more than 2525 USD per person in 2018 . It
9


means that Vietnamese people tend to pay more money for goods and services
compared to the past.
Tourism industry in the Southest Asia: The unique and diverse range of
recreational activities and travel options in Southeast Asia has made it a top destination
for tourists.
According to the World Tourism and Travel Council (WTTC), the tourism
sector alone directly contributed a whopping US$119.7 billion in 2016 to the region’s
coffers and this amount is projected to rise to US$222.8 billion in 2027, which makes
up 5.3 percent of total gross domestic product (GDP) for the region.
Tourism industry in Vietnam: Tourism plays a critical role in stimulating the
economy in Vietnam. The extensive investment and continuous development of
infrastructure and transport system are targeted at leading to more accessibility to
different destinations in the country.
Vietnam’s tourism industry continues to rank amongst the fastest growing
tourist destinations in the world, with revenue in 2018 reaching VND 620 trillion

(US$26.75 billion), up to VND 110 billion (US$4.75 billion) compared to 2017.
Visitors coming by airways increased by 14.4 percent in 2018, while arrivals by road
increased by almost 60 percent, and by seaway decreased by 16.8 percent.
Vietnam was continuously named among the destinations with the biggest yearover year increase in international tourist arrivals, according to the United Nations
World Tourism Organization (UNWTO)’s report. But until 2020, due to the impact of
COVID-19, the tourism industry has been struggling to survive since damage caused
by the pandemic is enormous.
2.1.4. Environmental (Natural)
The spectacular landscape and impressive sceneries of Vietnam have attracted
more and more travelers year after year, with over 3000 kilometers of coastline,
pristine beaches, dynamic growing cities, mountainous highlands, and diverse cultural
and historic sites.
But unfortunately, environmental problems have enormous impacts on
economic development of the country; include tourism industry. The hospitality
industry itself has been considered to relate to environmental issues. Therefore,

10


designing and operating the resort should follow the concept of maintaining
environmental sustainability.
2.1.5. Political
The Government issued resolutions on solutions to promote Vietnam’s tourism
in the new era:
Raise social awareness about tourism development: The Ministry of
Information and Communications presides and coordinates with the Ministry of
Culture, Sports and Tourism, Ministry of Foreign Affairs, Vietnam Television, Voice of
Vietnam, Vietnam News Agency and major information agencies.
They promote communication activities, create a breakthrough in raising the
awareness of the society on tourism development and the effectiveness of tourism

promotion and promotion at home and abroad.
The Ministry of Culture, Sports and Tourism shall assume the prime
responsibility for formulating criteria and organizing the evaluation, ranking and
publication of development indexes of tourist destinations.
Strengthen support for tourism development Ministry of Culture, Sports and
Tourism: Preside over the development of the Tourism Development Program for the
period of 2016-2020 and submit it to the Prime Minister for consideration, decision
and organize the effective implementation of the Program's annual plan; coordinate
with related ministries and branches in studying and proposing specific and
breakthrough policies to attract tourists from a number of potential markets; complete
the conservation mechanism, effectively exploit and use the heritage.
In March 2022, the government enforced new policies, including lowering VAT
(from 10% to 8%), and new articles to support employees working in the tourism
industry to come back, etc.
The suggestions for supporting businesses to easier access of loans with lower
interest, lowering land using taxes, and increasing service charge are also in the
process of being considered during this period.
2.2. Micro environment (5-forces framework)
2.2.1. Threat of New Entrants

11


Based on the current situation, it can be seen that the resort real estate segment
is experiencing strong growth. But it can be said that threat of new entrants would be
low for Vinpearl.
The first outstanding advantage of the Vinpearl is that the investor has the
leading position in real estate today in Vietnam. This has been proven through a series
of domestic and foreign real estate awards that Vingroup has received. On September
18, 2017, Vingroup has been named as the Best Real Estate Developer in Vietnam,

Best Retail Developer in Vietnam, Best Mixed Use Developer in Vietnam, and Best
Leisure/Hotel Developer in Vietnam by the world’s leading financial magazine
Euromoney.
The chain of resort projects in Nha Trang, Da Nang, Phu Quoc and many other
resort cities under the brand name Vinpearl Resort & Villas is invested and developed
by Vingroup on a large and synchronous basis. Thanks to the development by a
reputable investor, Vingroup's resorts are all 5-star standard.
Although it is a domestic management unit, Vinpearl can be compared with
foreign enterprises and this has been shown through awards as well as 5-star service
quality assessed by customers. In order to increase the rate of tourists coming to
Vinpearl resorts, Vingroup has cooperated with domestic and foreign tour operators, so
even though the capacity to fill rooms in peak and low season there is no difference.
New hotel businesses that want to enter the market and compete with Vinpearl
will have to face high barriers to entry, namely:


Capital requirements: to build a 5-star hotel requires a large

amount of capital, estimated from tens to hundreds of millions of dollars.


Customer preference for Vinpearl brand.



Brand: Vinpearl's resort brand has a stable foothold in the market.



Cost advantage: Vinpearl can easily produce and supply its

products and services at a lower cost than new entrants.


Access to distribution channels is relatively difficult.



Government regulations.

2.2.2. Threat of Substitutes
Threat of substitutes should be high for Vinpearl.
12


Recently, tourists tend to choose places with friendly food and accommodation
at affordable prices, such as B&B. Grant Thornton Vietnam recorded that there are
6,500 B&B establishments nationwide, this is a new type of residence that has
appeared in Vietnam in the past few years.
B&B is actually an ordinary house and has about 10 rooms, providing
accommodation services; everything at B&B is almost like a hotel. In addition, tourists
will have the opportunity to prepare breakfast, clean the room and ask guests what
they like for dinner or breakfast the next day.
Or for the type of homestay, visitors can cook for themselves, visit friends or go
sightseeing in the surrounding areas.
In addition, accommodation-sharing websites such as Airbnb, HomeAway or
Luxstay are rapidly reshaping the accommodation service business market in Vietnam.
Airbnb, HomeAway and Luxstay are apartments booking systems in the form of a
website and mobile app. They are models of connecting travelers who are looking to
rent a bedroom or rent a house with someone who has a room for rent through web and

mobile applications.
The explosion of accommodation sharing has attracted many households with
surplus rooms or apartments for rent to participate, increasing the number of rooms for
tourists in big cities and destinations. Popular tourist attractions, with the advantage of
cheaper prices, private accommodation and new discovery experiences for visitors to
be with the locals.
With such advantages, these types of accommodation are attracting more and
more tourists who are individuals, groups of friends, couples and families. As for
tourists who are businessmen, there are now many other types of accommodation that
attract them.
However, with its excellent brand value in Vietnam, Vinpearl is still preferred
by its regular customers who expect standard and quality service without getting into
the hassle of searching for a new hotel.
2.2.3. Industry rivalry
Competition in the industry for Vinpearl is high.
13


Vinpearl's competitors include brands specializing in resort and entertainment
services such as FLC beach & Golf Resort, Sun Group, Novaland, etc. All these brands
have hosting services. accommodation, entertainment, amusement parks, hotels,
resorts, spas, golf, ... with prices not much different. They compete with each other by
building more projects, offering great incentives and discounts.
However, it can be said that Vinpearl has a pioneering position and is still
leading in the luxury resort real estate segment. Currently, Vinpearl is operating 43
facilities with a capacity of over 17,000 rooms nationwide, 6 golf courses, and 5
Vinpearl Land amusement parks. Vinpearl chain stretching from North to South has
appeared in 11 famous tourist sites in Vietnam.
The preeminent point of Vinpearl's real estate products is to always ensure its
commitment to progress, construction quality, and synchronous infrastructure and

utilities with outstanding service quality. The resort projects are located in extremely
ideal locations, next to beautiful and fresh beaches such as in Nha Trang, Phu Quoc,
etc.
2.2.4. Bargaining power of suppliers
The bargaining power of suppliers for Vinpearl is low.
These suppliers include the ones for infrastructure, maintenance, machinery,
raw and cooked foodstuffs and so on. Vinpearl picks its suppliers very cautiously to fit
their brand value, and then it maintains long-term relationships and trust with its
suppliers. The relationship is mutually beneficial: the hotel gets materials of high
standards that will be used to please their guests, while the suppliers get to be
associated with a brand of great prestige for a long period of time, increasing their own
brand value and revenue.
While it is not hard to find suppliers for a hospitality business, there are still
rather few suppliers of high quality or luxury goods on a scale large enough for a
brand like Vinpearl (examples being MegaMarket, Go! or Co.opMart). However,
Vinpearl, with its brand value, will not have too much problem finding new offers
should they plan to change suppliers, and this reduces the bargaining power of the
suppliers of the hotel.

14


Additionally, Vingroup - Vinpearl’s parent company - is a multi-sector company
which maintains several supply chains of their own, and until recently owned a
supermarket chain (formerly VinMart, currently WinMart) as well as an agricultural
development company (formerly VinEco, currently WinEco), both of which they still
maintain a close business relationship with. This means the hospitality chain has a lot
of independence when it comes to choosing who to get their supplies from.
2.2.5. Bargaining power of buyers
The power of customers varies, but it is generally moderate.

According to Vinpearl’s 2020 Annual Report, despite the pandemic they
managed to maintain their market share of domestic guests, thus proving their position
as a leading hotel operator in Vietnam. The number of sold rooms grew by over 300%
between 2016 and 2019, and of all the 2.2 million nights stayed at Vinpearl facilities in
2020, 1.4 million were by domestic customers. Vinwonders, which merged into
Vinpearl during the 2nd quarter of 2021, saw 2.9 million visitors to their 3 locations in
2020.
Vingroup’s customer base can be divided into two major parts: the MICE
customers and the young leisure travelers. For MICE travelers, they usually are regular
customers and have strong ties with the Vinpearl brand through their companies. As
major contributors to hotel sales, they command strong bargaining power.
The second group are leisure guests who wish to stay at luxury hotels during
their vacations. This group has a lower bargaining power as individuals since their
contribution to sales of the hotel is not significant. Additionally, the luxury customers
are also unlikely to switch brands: the prohibitive price of experimenting with different
brands, as well as early preference for one brand to be loyal to, both contribute.
However, these individuals’ powers can be amplified through the use of social media,
especially as many customers in the luxury sector are key opinion leaders. A review
posted on a popular information site can have a powerful influence on many people
and the value of the Vinpearl brand.
Chapter 3. Internal environment
3.1. Core competences
3.1.1. International standard - Authentic Vietnam

15


Vinpearl is the brand that owns Vietnam’s largest international five-star hotel &
resort chain. Honored throughout the world, the brand has locations in some of the
most beautiful destinations in Vietnam.

As a leader in the hospitality industry in Vietnam, Vinpearl is raising the bar as
a tourist ecosystem, providing all-in-one services as well as a chain of hotels and
resorts, amusement parks, animal safaris, golf courses, spas, and five-star conference
centers integrated with commercial centers and modern shop houses.
3.1.2. A pioneer applying technology in hospitality industry in Vietnam
Vinpearl became the first resort, hotel and entertainment system in Vietnam to
apply facial recognition technology based on artificial intelligence (AI). The
technology has been applied to help customers have new experiences such as opening
the door automatically, checking in within 3 seconds or paying for services, all with a
simple smile.
The technology at Vinpearl possesses 5 pre-eminent advantages:


SPEED - identification within one second,



Large data processing system with MILLIONS of faces



DYNAMIC security warnings in real time



PRECISION - almost 100 per cent



CONFIDENTIAL customer information at the highest level.

3.1.3. Diversified sub-brands catering the needs of each customer segment
In 2018, Vinpearl decided to restructure itself into three main brands, namely
Luxury, Resort & Hotel, and Discovery so as to correspond to the three levels of
experience including luxury- private, comfortable–flexible, and dynamic - exploring.
Vinpearl total sub-brands until now:


Vinpearl City Hotels



Vinpearl Luxury



Vinpearl Resort



Vinpearl Oasis



VinHolidays



Vinpearl Discovery

16




Vinpearl Condotel



VinWonders



Vinpearl Safari



Vinpearl Golf



Vinpearl Convention Center

3.1.4. Cooperate with well-known hotel management companies and domestic
airlines
On December 9th - 2020, Vietnam Airlines and Vinpearl signed a cooperation
agreement in the period of 2021 – 2022, focusing on a combo of aviation and safe
travel on flight networks and destinations of the two sides.
On February 27th - 2020, Bamboo Airways and Vinpearl signed a strategic
cooperation agreement in the field of air-tourism service. They cooperating to develop

domestic and international air routes to Vinpearl’s destinations, towards increasing the
number of international visitors from strategic markets of Vinpearl, including
Australia, Japan, the Republic of Korea and China.
On February 23rd - 2022, Vinpearl and the world’s award-winning hotel group
Meliá Hotels International announced a strategic cooperation roadmap.
The cooperation with Meliá Hotels International is part of Vinpearl’s strategy to
advance and internationalize the brand in the hospitality field. This perfect
combination will bring about the opportunities for domestic and foreign tourists to
enjoy diverse experiences through Vinpearl’s signature local “all-in-one” complexes
and world-class standard services by such an internationally prestigious hotel brand.
As mentioned above, Vinpearl has its own core competencies but in order to
determine solid resources as well as sustainable competitive advantages, it is necessary
to use the VRIO framework.

Core competencies

Valuable

Rare

Costly to

Organized Competitive/

Inimitable

performance
implications

International

Yes

Yes

Yes

Yes

Sustained/

17


standard - Authentic

above normal

Vietnam
A pioneer applying

Yes

No

No

Yes

technology in

Sustained/
normal

hospitality industry
in vietnam
Diversified sub-

Yes

Yes

Yes

Yes

brands catering the

Sustained/
above normal

needs of each
customer segment
Cooperate with

Yes

No

No

Yes

well-known hotel

Sustained/
normal

management
companies and
domestic airlines

3.2. Unique resources
Phần này đọc chủ yếu trên slide, có đoạn “Focuses on utilizing services that enhance
the customer experience for children. “ thì đọc ở dưới
VinPearl is one of the few tourism businesses in Vietnam that focuses on
utilizing services that enhance the customer experience for children. (E.g:
VinWonders, VinAquarium)
Chapter 4. SWOT analysis
Strengths

Weaknesses

1) Presence in the right locations

1) Low-effective marketing

2) High synergy amongst stakeholders

strategy

3) Effective brand communication strategy

2) Expansion plans

4) Customer Loyalty programs

3) Production and Operating Risk

18


5) Luxury Amenities
6) Applying state-of-the-art management
technologies and the industry’s most advanced
practices
7) Developing a series of services and values

4) Environmental-related Issues
5) Risks associated with personnel

8) Vinpearl continued to strengthen its leading
position in Vietnam’s luxury hotel sector
Opportunities
1) A growing economy
2) Tourism and Hospitality Industry enjoys a
faster than expected recovery, particularly in
Asian markets
3) Positive brand image
4) Guest feedback and appraisal

Threats
1) Macroeconomic risks
2) Interest rate risks
3) Competition risks
4) Inclement Weather conditions
5) Demographics limitations

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Chapter 5. Competitive strategy
5.1. Price strategies
The price ranges will be divided into different classes based on room sizes and
attached services. When it comes to VIP rooms with unique infrastructure and
unparalleled services, average extra charges for extra beds will account for
approximately 500,000 VND per room.
Vinpearl are always capable of constructing appropriate price strategies in order
to cover overhead expenses and generate great revenues. They have conducted
research, thus proposing their own segmentation plans and methods of accounting
commission percentages per room. Thanks to accurate packaged prices appraisals
during customers' stays, Vinpearl stands every likelihood to seize market prices
fluctuation.
Vinpearl's "Room-leasing" service relies entirely on time, it leaves no space for
goods inventory like other types of material trading. Once a room is left vacant for one
night, it is synonymous with revenue losses. Vinpearl applies flexible pricing policies
which offer discounts or launch special packages to attract customers.
Discounts during off-season phases act as catalysts for attention magnet, thus
boosting the number of customers at large. There has already existed the discounted
offer throughout March, April and May.

5.2. Differentiate strategies
5.2.1. Brand image differentiate:
Nói chi tiết 4 ý trên slide (đã giữ lại nội dung ở dưới)
1. Optimize energy- efficient and environment-friendly product designs
2. Facilites should be redecorated seasonally/for specific events.
3. Creating an ecosystem surrounding Vinpearl to increase accessibility
4. Seek partnerships and new markets: collaborating with airlines, Vinpearl Travel
Russia, partnership with Melia
Còn lại liệt kê trên slides
Hotels, restaurants, bars and pubs should be re-decorated seasonally as well as
regarding specific events: the corporation birthday anniversary, Valentine, Noel, Tet
Holiday, etc. Vinpearl had better set high value on optimizing energy- efficient and
environment-friendly product designs by installing the solar energy system for the
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whole complex. Advancement in product design does not only boost the service’s
competitive power by downsizing overhead costs but it also minimizes detrimental
effects on nature.
5.2.2. Increasing brand’s accessibility by creating a “Vinpearl’s ecosystem”:
In the current Vingroup ecosystem, it operates in 08 areas (Real estate; Resort
& Entertainment; Health Education), each of which includes many famous
brands/subsidiaries and can be said with certainty: Being Vietnamese, everyone uses it.
services of Vingroup no matter where you are.
5.2.3. Seeking for partnership and penetrating new market - Vinpearl Travel
Russia:
According to the original plan, Vinpearl will officially open the sale of airline
services - package tours from Moscow to Nha Trang (Khanh Hoa, Vietnam) starting
from February 20, 2020. This company will market to Russian tourists Vinpearl's highend package travel services in Vietnam including: flights, resort travel services entertainment, sightseeing and insurance...
In a comprehensive cooperation strategy with airlines, Vinpearl has cooperated

with domestic airlines to open domestic and international fixed flights to destinations
with resort and entertainment facilities. entertainment of Vinpearl in Nha Trang, Phu
Quoc, Da Nang - South Hoi An.
5.2.4. Partnership with Melia Hotel International:
Vinpearl and this world's leading hotel group have announced a strategic
cooperation roadmap. Accordingly, Vinpearl will cooperate to transfer the management
rights of 12 hotels and resorts to Meliá Hotels International for a minimum period of
10 years.
Chapter 6. Strategy suggestion for Vinpearl
Vinpearl has proved to be one of a "must-visit" tourism destinations in Vietnam.
Last year, Vinpearl was announced by KPMG as the tourism and hotel brand with the
highest position in the top 10 leading brands in terms of customer experience. This is
the result of an in-depth survey on 1,500 consumers in Vietnam by collecting
information and calculating the "Customer Experience Excellence score" index..

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Vinpearl has built a strong foundation through its partnership with domestic
airlines (Vietnam Airlines, Bamboo Airways) and opened representative offices in
strategic markets. As a result, Vinpearl should focus more on opening its share market
outside Vietnam to represent the country in the international field..
Vingroup brought Vinbus into operation as a green public transportation all over
its properties in 2021. In 2022, Vingroup brought AR/VR into the Vin3S showroom
system. The company has decided to stop manufaturing gas cars as a long-term
strategy to develop electric cars. As the hospitality industry is applying new
technologies in all their fields due to the Fourth Industrial Revolution, Vinpearl should
also consider increasing applications of modern technologies into their products, with
an emphasis on enviromental awareness, virtual reality, touchless technology, electric
vehicles.

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