Vinpearl signs MoUs with 3 Indian travel firms to tap 1.47 billion population market

Overview

Vinpearl, a subsidiary of Vingroup (VIC), signed memoranda of understanding (MoUs) with three leading Indian travel companies—Thomas Cook India, SOTC Travel, and MakeMyTrip—on May 7, 2025, in Mumbai. The agreements aim to attract Indian tourists to Vietnam, positioning the country as a preferred destination for the world’s most populous market of 1.47 billion people.

Key Facts

• Vinpearl signed MoUs with Thomas Cook India, SOTC Travel, and MakeMyTrip on May 7, 2025, in Mumbai, India.
• The signing took place at the Vietnam-India Business Forum, witnessed by Vietnam’s President To Lam and Maharashtra Chief Minister Shri Devendra Fadnavis.
• India has a population of 1.47 billion, making it the world’s most populous country.
• Thomas Cook India (founded 1881) specializes in group tours, corporate travel, and large-scale MICE segments.
• SOTC Travel (founded 1949) focuses on family travel, group tours, and mid-to-high-end resort stays.
• MakeMyTrip is India’s leading online travel platform, strong in flights, hotels, and packages, targeting young and independent travelers.
• Vinpearl’s CEO Ngo Thi Huong stated that India is a key market in Vinpearl’s internationalization strategy.

What Happened

On May 7, 2025, during a state visit by Vietnam’s President To Lam to India, Vinpearl signed MoUs with three major Indian travel companies: Thomas Cook India, SOTC Travel, and MakeMyTrip. The agreements were formalized at the Vietnam-India Business Forum in Mumbai, under the witness of President To Lam and Maharashtra Chief Minister Devendra Fadnavis.

The MoUs aim to establish direct access to all customer segments in India, stimulate travel demand, and ultimately position Vietnam as a “preferred destination” for Indian tourists. Vinpearl’s CEO Ngo Thi Huong emphasized that India is a key market in the company’s internationalization strategy, and the partnerships will help develop tailored products for different customer segments. MakeMyTrip’s Vice President Anubhav Bansal noted that Vinpearl’s integrated resort ecosystem is increasingly aligned with Indian traveler preferences.

Market Context

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 in Vietnam has been recovering strongly post-pandemic, with Indian tourist arrivals growing rapidly. Vinpearl’s move taps into this trend, leveraging India’s large and growing outbound travel market.

Strategic Significance

The partnerships give Vinpearl access to three distinct distribution channels covering the full spectrum of Indian travelers: Thomas Cook India for corporate and MICE, SOTC Travel for family and group tours, and MakeMyTrip for digital-savvy independent travelers. This multi-channel approach allows Vinpearl to capture demand across all segments without relying on a single partner. For Vingroup, the tourism subsidiary is a key component of its ecosystem, and expanding international arrivals supports occupancy rates and revenue at its resorts and entertainment properties.

What to Watch

• Quarterly tourist arrival data from India to Vietnam, especially from Q3 2025 onward.
• Any joint marketing campaigns or package launches by Vinpearl and its partners.
• Vingroup’s Q2 2025 earnings report for Vinpearl’s revenue contribution.
• Expansion of Vinpearl’s resort capacity or new property developments targeting Indian tourists.
• Policy changes in Vietnam’s visa regime for Indian nationals, which could further boost arrivals.