Vinpearl (VPL) Targets 2026 Profit of VND 3,000B, Up 170% on Tourism Recovery

Overview

Vinpearl (VPL) has set ambitious 2026 targets: revenue of VND 16,000 billion and after-tax profit of VND 3,000 billion, representing a 2.7-fold increase over 2025. The guidance, revised upward from an initial VND 1,500 billion profit, was announced at the company’s annual general meeting on April 24, 2026. The targets are underpinned by a strong tourism recovery, operational optimization, and leveraging the Vingroup ecosystem.

Key Facts

• Vinpearl targets 2026 revenue of VND 16,000 billion and after-tax profit of VND 3,000 billion.
• The profit target is 2.7 times higher than 2025 and double the initial guidance of VND 1,500 billion.
• In 2025, hotel and entertainment revenue grew 34% while costs rose only 18%, leading to a doubling of profit.
• The company aims to extend average guest stay from 2 days to 5-6 days and increase repeat guest ratio.
• Vietnam targets 25 million international arrivals and 150 million domestic tourists in 2026.
• The country’s 2030 vision now targets 45-50 million international arrivals, up from 35 million.
• Vinpearl CEO Ngô Thị Hương cited tourism recovery, flexible pricing, and technology adoption as key drivers.

What Happened

At its annual general meeting on April 24, 2026, Vinpearl (VPL) presented a significantly revised 2026 business plan. The company now expects revenue of VND 16,000 billion and after-tax profit of VND 3,000 billion, up from an initial profit forecast of VND 1,500 billion. CEO Ngô Thị Hương explained that the revision reflects a stronger-than-expected market recovery and operational improvements.

Key strategies include flexible pricing to optimize revenue per customer, enhancing guest experience to extend average stays from 2 to 5-6 days, increasing repeat visits, and applying technology to reduce operating costs. The company also highlighted the positive momentum from Q1 2026, which tracked ahead of plan. Regarding dividends for 2027, Hương stated that payment will depend on 2026 results, capital needs, and financial structure, with a specific proposal to be presented to shareholders.

Market Context

Vinpearl (VPL) trades on the UPCOM exchange, closing at VND 80,000 on April 14, 2026, with low volume of 302,700 shares. The stock has been relatively stable, reflecting the market’s wait-and-see stance ahead of the AGM. The broader Vietnamese tourism sector is recovering strongly, with national targets of 25 million international arrivals in 2026 and an upwardly revised 2030 goal of 45-50 million. Vinpearl, as a leading hospitality and entertainment operator, is well-positioned to benefit from this trend.

Strategic Significance

Vinpearl’s revised guidance signals confidence in sustained tourism growth and operational leverage. The company’s ability to grow revenue 34% while containing cost growth to 18% in 2025 demonstrates improving margins. The focus on extending guest stays and increasing repeat visits targets higher lifetime value per customer. Additionally, Vinpearl sees geopolitical instability in the Middle East as an opportunity, as travelers seek safe destinations like Vietnam. This could accelerate international arrivals beyond current forecasts. The company’s integration with Vingroup’s ecosystem provides cross-selling and cost-sharing advantages.

What to Watch

• Q2 2026 earnings release to confirm the positive momentum seen in Q1.
• Monthly international arrival data for Vietnam to gauge tourism recovery pace.
• Any dividend announcement for 2027, which would signal management’s confidence in cash flow.
• Updates on average guest stay and repeat guest metrics in quarterly reports.
• Potential impact of global fuel prices and inflation on operating costs.