Vinpearl signs MoUs with top Indian travel firms to tap 1.47 billion market

Overview

Vinpearl, the hospitality arm of Vingroup (VIC), has signed memoranda of understanding (MoUs) with three of India’s largest travel companies: Thomas Cook India, SOTC Travel, and MakeMyTrip. The agreements, signed during a state visit by Vietnam’s top leader to India, aim to tap the 1.47 billion-strong Indian market and position Vietnam as a preferred destination for Indian tourists.

Key Facts

• Vinpearl signed MoUs with Thomas Cook India, SOTC Travel, and MakeMyTrip on May 7, 2026.
• The agreements were signed at the Vietnam-India Business Forum during the state visit of General Secretary and President To Lam to India.
• Thomas Cook India specializes in large-scale group, corporate, and MICE travel.
• SOTC Travel focuses on family tours, group packages, and mid-to-high-end leisure.
• MakeMyTrip is India’s leading online travel platform, targeting young and independent travelers.
• Vinpearl operates 60 properties across Vietnam, offering a comprehensive 5-star ecosystem.
• India has a population of 1.47 billion, representing a significant source market for Vietnamese tourism.

What Happened

On May 7, 2026, Vinpearl signed MoUs with three major Indian travel companies: Thomas Cook India, SOTC Travel, and MakeMyTrip. The signing took place at the Vietnam-India Business Forum, held during the state visit of General Secretary and President To Lam to India, and was witnessed by the Vietnamese leader and the Chief Minister of Maharashtra, Shri Devendra Fadnavis.

The partnerships aim to create direct access to all customer segments in India, stimulate travel demand, and gradually make Vietnam a “preferred destination” for Indian tourists. Vinpearl’s CEO, Ms. Ngo Thi Huong, stated that India is a key market in Vinpearl’s internationalization strategy, and the cooperation will help develop tailored products for different segments. Mr. Anubhav Bansal, Vice President of MakeMyTrip, noted that Vinpearl’s integrated tourism ecosystem is increasingly aligned with Indian traveler preferences.

Market Context

Vingroup (VIC) shares closed at VND 177 on April 15, 2026, up 6.95% with volume of 6.36 million shares on HOSE. The tourism sector is recovering strongly post-pandemic, and Vietnam has been actively promoting itself as a destination for Indian tourists, who are known for high spending and group travel habits. Vinpearl’s move aligns with the broader trend of Vietnamese hospitality companies diversifying source markets beyond traditional ones like China and South Korea.

Strategic Significance

For Vingroup, the partnerships represent a strategic push to capture a larger share of the fast-growing Indian outbound tourism market. India’s middle class is expanding, and direct flights between Vietnam and India have increased. By partnering with established travel companies that cover different segments (group, family, online), Vinpearl can efficiently market its integrated resorts to a wide range of Indian travelers. This could drive occupancy rates and revenue for Vinpearl’s 60 properties, supporting Vingroup’s hospitality segment growth.

What to Watch

• Number of Indian tourist arrivals to Vinpearl properties in the next 6-12 months.
• Any new direct flight routes between Indian cities and Vietnamese destinations.
• Vinpearl’s Q2 2026 earnings report for hospitality segment performance.
• Further partnerships with Indian travel companies or airlines.
• Policy changes in Vietnam regarding visa facilitation for Indian tourists.