ANNOUNCEMENT OF TOP 10 VALUE-CREATING ENTERPRISES IN VIETNAM IN 2025 – TOURISM – HOTEL – RESORT INDUSTRY

The program aims to honor pioneering enterprises that create multidimensional value, thereby contributing to improving competitiveness, promoting sustainable development and affirming Vietnam's position on the global economic map.

The full list of Top 10 Value-Creating Enterprises in Vietnam 2025 - Tourism - Hotel - Resort Industry and research methods are posted on the program's Information Portal https://value10.vn/.

Source: Top 10 Value-Creating Enterprises in Vietnam 2025 - Tourism - Hotel - Resort Industry (https://value10.vn/)

Source: Top 10 Value-Creating Enterprises in Vietnam 2025 – Tourism – Hotel – Resort Industry (https://value10.vn/)

Vietnam Tourism – Creating experiences, spreading values, elevating the nation

Tourism – Hotels – Resorts: Overcoming the pandemic, reaching new heights
After the COVID-19 lockdown, Vietnam’s Tourism – Hotels – Resorts industry has risen strongly. In 2023, when the borders reopened, the tourism industry became an economic support, contributing more than 4 percentage points to Vietnam’s GDP growth. Entering 2024, the growth rate continued to exceed expectations: Vietnam welcomed 17.5 million international visitors and about 110 million domestic visitors, with total tourism revenue reaching about VND840,000 billion. This is proof of the strong resilience of the “smokeless industry”.

In parallel with the market recovery, tourism, hotel and resort businesses have also entered a phase of strategic transformation. Instead of pursuing short-term profits, they aim for a multi-dimensional value creation model: sustainable growth, community engagement and contributing to enhancing the national brand. Overall, the entire industry is making efforts to “renew” the Vietnamese tourism experience, both to meet post-pandemic needs and to enhance the competitive position of businesses in the regional market.

Creating experiences – Spreading values – Elevating the nation

Source: Top 10 Value-Creating Enterprises in Vietnam 2025 – Tourism – Hotel – Resort Industry (https://value10.vn/)

Value for customers and markets
In the post-pandemic context with fierce competitive pressure, customer experience has become the "strategic focus" of tourism and hotel businesses. Not only stopping at recovering operations, many businesses have proactively redesigned service models towards personalization and strong technology application, to attract and retain tourists in the long term.

Smart and "green" experience: Online booking platforms, AI applications to support customers, customer relationship management systems (CRM) or contactless services are being widely deployed, helping the tourist journey - from booking to on-site experience - become more convenient, safe and modern.

Diversify products, adapt to new tastes: After COVID-19, travel habits and needs have changed rapidly. Major travel companies such as Saigontourist and Vietravel have launched a series of new products: from MICE combined with conferences and events, community eco-tourism in remote areas, to wellness tours at luxury resorts. Many hotels and resorts have added spa therapy, yoga, and detox services to meet the growing demand for health care.

International links, destination promotion: In the integration trend, Vietnamese enterprises are increasingly proactive in joining hands with international partners to improve quality and promote their image. Notably, Sun Group is a pioneer in creating an international mark through strategic handshakes. With Accor Hotels, Sun Group brings world-class management and operation standards to its luxury resort system. In September 2025, through Sun Hospitality & Entertainment (S.H.E), the group continued to sign a cooperation agreement with MakeMyTrip - India's largest online travel platform - to bring the Sun World system into the tour itineraries of Indian tourists. These steps not only anticipate the booming wave of Indian tourists, but also open up new business opportunities for the domestic tourism industry. More importantly, connecting with international "giants" helps improve service quality, affirming Vietnam as a modern, attractive and competitive destination on the world tourism map.

Thanks to the continuous efforts in improving the experience and expanding the market, Vietnamese tourism and hotel businesses have not only recovered their business quickly but also contributed to repositioning the image of national tourism. The value that the industry creates is clearly demonstrated through the increasing satisfaction of customers, the high return rate of tourists, and the increase in market share of domestic brands in a competitive market.

Value for community and society
The Tourism – Hotel – Resort industry not only brings profits to businesses, but also creates strong values that spread to the community and society.

An important aspect of the value they create is jobs and livelihoods for people. Hundreds of thousands of workers are working directly in the tourism – hotel sector, not to mention the indirect workforce in the supply chain. The development of a new resort or hotel often entails upgrading local infrastructure, from roads, electricity and water to telecommunications, thereby contributing to improving people's lives. At the same time, tourism businesses often prioritize recruiting local people for positions such as tour guides, service staff, security guards, etc., thereby creating stable income for the local community and limiting labor migration.

In parallel, many travel companies and hotels cooperate with local farmers and cooperatives to provide specialties and clean food to customers, or take customers to visit traditional craft villages (Bat Trang pottery, Hoi An silk, Phu Vinh rattan and bamboo, etc.). These activities not only help people consume products but also preserve cultural identity. Community-based tourism tours organized in the Northern mountainous region or the Mekong Delta often contribute a portion of revenue to the village fund to build public works (cultural houses, clean water wells, etc.).

Large corporations also make their mark with large-scale social activities. Vingroup not only develops Vinpearl but also operates Vinpearl Safari - Vietnam's first semi-wild park, rescuing and preserving hundreds of rare animal species, making a positive contribution to biodiversity. Many other businesses also actively attach responsibility to business activities by sponsoring cultural festivals and sporting events to promote destinations; Implementing the “Kind Tourism” program (sustainable tourism) inviting tourists to participate in cleaning up beaches, planting trees in the resort grounds; maintaining annual volunteer activities such as visiting and giving gifts to disabled children and lonely elderly people on every holiday.

These actions not only create the image of a business that is closely connected with the community, but also contribute to affirming that the Vietnamese tourism and hotel industry is a responsible and sustainable economic sector.

Value for workers
Dubbed the “smokeless industry”, tourism – hotels – resorts not only generate large revenues but also employ the largest workforce in the service economy. Therefore, one of the most important measures of a business’s value in the industry is what it provides to its staff – the “brand ambassadors” who directly shape the customer experience.

Each hotel, resort or travel agency creates thousands of jobs, ranging from common positions such as waiters, room attendants, security guards, drivers, etc. to highly skilled positions such as hotel managers, head chefs, maintenance engineers or marketing specialists. In Vietnam, this is also a strong channel to attract young and female workers, contributing to the shift in labor structure from agriculture to services, opening up sustainable development opportunities for many localities.

Leading businesses not only focus on job creation but also consider investing in people as a long-term strategy. Sun Group works with Hanoi National University to build a high-quality and practical training, research, practice and application exchange environment for the younger generation. Many businesses support tuition fees, encourage employees to pursue prestigious vocational certificates such as AHLEI (American Hotel Association), or regularly organize periodic training on food safety and medical skills after the COVID-19 period. These policies not only improve professional capacity but also affirm the commitment of businesses to building a high-quality workforce.

In the context of fierce labor competition, tourism - hotel - resort businesses have created a professional, fair and diverse working environment. The philosophy of "employees are the most valuable asset" is concretized through transparent promotion policies, evaluated based on capacity instead of age, gender or nationality. To retain talent, many units have implemented attractive welfare packages: extended health insurance, free vacations for employees and their families, bonuses based on business results, and even accommodation support for employees living far from home. Corporate culture is also built on the spirit of creativity and empowerment: frontline employees are encouraged to proactively handle situations, contribute initiatives to improve services, thereby enhancing customer experience.

After the pandemic, businesses are more concerned about the physical and mental health of employees. Team-building activities, internal sports clubs, or mental care programs are organized regularly, helping employees reduce work pressure and connect with the team.

In fact, businesses that focus on human resources have maintained a stable workforce even during the most difficult period of COVID-19. This is a clear proof that: taking care of employees is not only a social responsibility, but also the foundation for building brand reputation and long-term competitive advantage. When employees are happy and committed, customers will be served better, and that is how tourism - hotel - resort businesses create sustainable value for themselves and for society.

Value for the environment and sustainable development
Climate change and sustainable development are global challenges, but also opportunities for tourism - hotel - resort businesses to affirm their responsibility and pioneering position. In Vietnam, many major brands have proactively made "green" a standard in their operations, both meeting the increasing demands of international tourists who love sustainable tourism, optimizing long-term costs and ensuring compliance with strict ESG standards.

Vinpearl is one of the pioneers in this field. Vinpearl's resort and hotel system has invested in 19 wastewater treatment plants, applied automatic irrigation systems, strictly controlled the consumption of water, chemicals and fertilizers to minimize environmental impact. At the same time, a series of energy-saving initiatives have been implemented: reducing light intensity by 50%, reusing waste heat, optimizing air conditioning systems, and encouraging employees and customers to participate in energy-saving practices. Not only does Vinpearl manage operations, it also aims to create green products and living spaces close to nature. Through the “Go Green” campaign, the company eliminates single-use plastics, replaces them with environmentally friendly materials, and installs solar energy systems at many facilities, contributing to reducing at least 15% of electricity taken from the national grid. This is not only a technical solution, but also a long-term commitment to a sustainable tourism development model.

Along with Vinpearl, TTC Hospitality also made its mark with many practical action programs. From 2024, the group has implemented a comprehensive “green” strategy in all business units, notably the monthly Green Day movement - where employees plant trees together, clean up beaches, riverbanks, and clean up the workspace. In the second quarter of 2024 alone, TTC Hospitality contributed to planting nearly 100,000 new trees, an important milestone for expanding ecological space and protecting the environment.

Overall, in the context of “green” increasingly becoming the norm, these efforts not only help tourism and hotel businesses stay ahead of the trend of sustainable tourism, but also create long-term value for the community and the environment. This is a “non-financial profit” but has profound meaning, affirming the role of businesses as creators of sustainable value for the present and the future.

Value for the nation and Vietnamese brand
Tourism – hotel – resort businesses not only provide services, but also act as “brand ambassadors” to bring Vietnam’s image to the world. Each resort, luxury hotel or modern amusement park is an architectural – cultural work, promoting the natural beauty and national identity, while affirming Vietnam’s position on the global tourism map.

The appearance of international-scale projects has helped Vietnam continuously make its mark on prestigious rankings, from Asia’s leading resorts to destinations praised by the world media. Prestigious awards and honors from international organizations not only affirm the outstanding quality of service, but also create a strong ripple effect, turning Vietnamese tourism into a “national brand” trusted and chosen by international friends.

More importantly, the rise of the tourism and hospitality industry not only brings in foreign currency, but also fosters the pride of “Made in Vietnam”. Each high-class experience that international visitors receive in Vietnam is a vivid demonstration of the country’s soft power, contributing to affirming Vietnam as a leading attractive destination in the world.

Challenges on the journey of value creation
Despite a strong recovery after the pandemic, Vietnamese tourism - hotel - resort businesses are still facing many difficult "problems" on the journey of value creation. According to the survey results of businesses in the Top 10 Value-Creating Enterprises in Vietnam 2025 - Tourism - Hotel - Resort Industry by Viet Research, there are 05 main challenges on the journey of value creation.

Uneven recovery: Not all tourist markets or segments have returned to their previous levels. The number of Chinese and Russian visitors – which used to account for a large proportion – remains low, causing the average room occupancy rate in 2024 to be about 20% lower than before COVID. The recovery is also uneven between destinations: Hanoi and Ho Chi Minh City are bustling thanks to European and American visitors, while Da Nang and Nha Trang are struggling due to a lack of Chinese/Russian visitors. This forces businesses to constantly adjust their product structure and target markets to adapt.

Increased competition: The accommodation and travel market is witnessing a wave of fierce competition. Many international hotel groups (Marriott, Hilton, IHG, Accor...) are expanding strongly in Vietnam. Although they bring high service standards and strong brands, they also put pressure on domestic brands. In the travel sector, the emergence of global OTAs (Online Travel Agencies) such as Booking.com and Expedia has also forced Vietnamese businesses to innovate products, upgrade services and take advantage of cultural identity, cuisine and local experiences to retain tourists

Short of high-quality human resources: After the pandemic, a large number of tourism workers changed careers due to prolonged job losses, leading to a phenomenon of "human resource drain" from the industry. When tourism recovered, many hotels and travel companies struggled to recruit experienced staff. Although the new team was young and dynamic, they lacked skills and had to be retrained from scratch. In addition, the quality of tourism training in Vietnam was uneven, and foreign languages and soft skills of ordinary workers were limited compared to the requirements of serving high-end international guests. Retaining talented people was also a challenge when many good employees were invited by foreign companies with more attractive incentives.

ESG compliance and investment costs: Sustainable development is a mandatory trend, but it also entails a cost burden for investing in clean energy, wastewater treatment systems, or switching to electric vehicles. Although it brings long-term benefits, the large initial investment puts more pressure on cash flow for many businesses that have just "exhausted" after COVID.

Economic and geopolitical fluctuations: The tourism industry is very sensitive to external fluctuations. Currently, the risk of global economic recession and high inflation in many countries are causing tourists to tighten their purse strings. Rising fuel prices also increase the cost of air tickets and tours, which can curb demand. In addition, geopolitical instability (conflicts, natural disasters, new epidemics) is always a lurking risk. Recently, the Chinese tourist market has recovered slowly, partly due to the weakening Chinese economy and the devaluation of the Yuan, while the Russian market has decreased due to war. On the contrary, the hot growth from the Indian and Middle Eastern markets poses challenges for Vietnamese businesses in adapting quickly to products. Risk management and flexible market redirection will be a matter of survival in the face of unpredictable fluctuations.

These challenges are a "test" of the mettle and creativity of businesses. Those who are steadfast in the strategy of creating sustainable value and constantly innovating will have the opportunity to rise up, play a pioneering role and lead the Vietnamese tourism industry in the new period.

Anticipate the trend - Create the future

After the pandemic, the global and Vietnamese tourism landscape entered a period of strong reshaping. Changing tastes and expectations of tourists, along with socio-economic fluctuations and new technologies, are outlining key trends for the coming period. Businesses that grasp and stay one step ahead will not only create a competitive advantage, but also open up opportunities for breakthroughs and create new values for the industry. There are 05 main trend groups from the survey of businesses in the Top 10 Value-Creating Enterprises in Vietnam 2025 - Tourism - Hotel - Resort Industry by Viet Research.

"Green" and sustainable tourism is on the rise

Climate change and the sense of social responsibility make tourists increasingly prioritize "green" criteria. Sustainable tourism is no longer an option, but an inevitable trend. Businesses are expected to invest heavily in renewable energy, waste management, limiting single-use plastics, as well as activities to preserve cultural and natural heritage. In the future, zero-carbon resort models, hotels using 100% green energy may appear in Vietnam. Tourists also tend to stay longer at one place, care about the carbon footprint of the trip - this encourages businesses to be transparent about environmental information and participate in international green certifications (such as Green Key, EarthCheck) to create trust.

Expanding the Indian market and attracting Western luxury customers

India is becoming the “new star” of Vietnamese tourism. The number of Indian visitors increased from 169,000 in 2019 to 392,000 in 2023, marking a growth of 231%. In the first half of 2024 alone, this number reached 337,000. This opens up great potential for businesses to boost marketing in India, cooperate with Bollywood and Indian stars to promote destinations as well as design products specifically for Indian guests: from dishes, Hindi-speaking guides, to prayer spaces for Hindu guests. The luxury segment from the US and Europe is still the “profit machine” of the industry. 5-star room occupancy in Vietnam is recovering beyond forecast thanks to this group of guests. Vietnamese businesses can absolutely make their mark with unique products – from yachts combined with folk art, to resort villas attached to organic farms – to satisfy the desire for “different experiences” of the Western upper class.

Digital transformation and personalization of experiences

Technology will continue to be the “lever” for the tourism service revolution. Artificial intelligence (AI), Big Data and IoT are expected to be applied more deeply to optimize business operations. Smart hotels can automatically remember the tastes, habits and vacation styles of each guest; multilingual AI chatbots online 24/7 improve satisfaction levels; Big Data helps businesses forecast demand and apply flexible pricing. The future period may see an explosion of integrated tourism applications (super-apps) “made in Vietnam” that allow guests to book service packages, receive AI-designed itinerary suggestions and share real-time experiences. Digital transformation also helps improve operational efficiency: the hotel management system (PMS) is centrally connected, reducing manual paperwork, thereby saving costs and limiting errors. Ultimately, technology will be the key to increasing personalized experiences and optimizing operations, creating superior value compared to old business models.

Developing MICE tourism and wellness

Post-pandemic, the market has witnessed a surge in demand for MICE (meetings, incentives, conferences, events combined with tourism) and wellness tourism. Vietnam has emerged as an attractive MICE destination in Southeast Asia thanks to its political stability and reasonable costs. The coming period will witness a wave of investment in convention centers and hotels integrated with international events in tourist cities. Along with MICE, wellness tourism has also boomed as tourists increasingly pay attention to body-mind-spirit balance. High-end resorts plan to expand traditional medicine spa services, meditation, intensive yoga, and long-term detox courses. Some resorts also cooperate with doctors and therapists to develop "medical tourism" - tourism combined with health check-ups, therapy, and aesthetics. This will be a segment that creates high profit margins and great added value if businesses know how to take advantage of natural advantages (mineral water sources, indigenous medicinal herbs, traditional Vietnamese medicine).

Raising capital and expanding the ecosystem

To realize the above strategies, many Vietnamese tourism and hotel businesses will need large investment capital in the coming years. IPOs are becoming a vibrant capital mobilization channel. In 2025, Vinpearl will list nearly 1.8 billion shares with a valuation of VND 130,000 billion (~5.5 billion USD), entering the group of 15 enterprises with the largest capitalization in the market. This is the opening push, predicting that there will be more names such as Sun Hospitality, Vietravel Airlines, Saigontourist looking to the capital market and international investment funds. Besides IPOs, the M&A trend will also increase, forming new types of "multi-service tourism corporations": airlines join hands with travel companies, hotel corporations cooperate with cruise lines... These steps will create a complete ecosystem, capable of competing equally with international corporations.

It can be seen that the picture of Vietnam's tourism - hotel - resort industry after the pandemic is a colorful success story. Businesses in the industry have demonstrated their mettle by quickly adapting, strongly recovering business operations and at the same time transforming towards sustainability, creating multi-dimensional values. Of course, the road ahead still has many challenges. But with the right direction and determination to innovate, Vietnamese tourism - hotel - resort businesses are turning challenges into opportunities to grow stronger. The boom of tourism after the pandemic is not only measured by millions of visitors or billions of dollars in revenue, but also by the valuable legacy that the industry brings to society. That is the measure of sustainable success, affirming the role of tourism businesses as "ambassadors" creating happiness and prosperity for the country.

The Announcement and Honoring Ceremony of the enterprises in the List of Top 10 Value-Creating Enterprises in Vietnam 2025 - Tourism - Hotel - Resort Industry will take place within the framework of the Vietnam Business Forum 2025 - Creating and Leading Sustainable Transformation, scheduled to be held in Hanoi in December 2025 and posted on the Program's information portal https://value10.vn/ and on mass media channels.

According to Value10.vn