After years of delays, Phu Quoc is about to get a serious new luxury option. The Park Hyatt Phu Quoc, first announced back in 2019 and originally slated for a 2022 opening, is now taking reservations for stays from December 8, 2026 — meaning the doors could open just weeks from now. Given this property's track record, scepticism is fair, but a pulled-forward timeline is a good sign.

The resort sits on Vietnam's largest island, half of which is a national park and UNESCO site. Specifically, it occupies the southwestern tip, spread across 160 acres between a mile-long white sand beach and green hills, roughly 30 minutes from Phu Quoc International Airport. It's Park Hyatt's first resort in Vietnam — the brand's only other Vietnamese property is the urban Park Hyatt Saigon.

The property has 168 keys: 114 rooms and suites plus 54 private pool villas, all generously sized. Entry rooms run 80 square metres, suites start at 165, and villas from 280. Dining leans local with some variety: Fisherman's for Vietnamese seafood, Pepper Grill for open-fire cooking, Herbs & Spices for comfort food, La Maisonette for Vietnamese-French fusion, and an Italian option at the Pool House & Bar. There are two pools, a lakeside spa, a gym with a lap pool, and a kids club. For big spenders, The Manor is an eight-bedroom oceanfront villa sleeping up to 24, priced from $25,000 a night.

Rates are firmly in luxury territory. Cash rates start just over $700 a night before the 13.4% taxes and service charges — so upwards of $800 all-in for the cheapest room. Points travellers may do better: it's a World of Hyatt Category 7 property, with standard redemptions at 25,000-55,000 points per night. Anyone paying cash should consider booking via Hyatt Privé for upgrades and hotel credits.

Phu Quoc already punches above its weight on hotels, with the JW Marriott, InterContinental and Regent widely rated among the best in their brands' portfolios. The Park Hyatt adds a strong points-friendly option to that mix — redemptions here could represent excellent value, especially for those with Globalist status.

Who should care? Points collectors hunting a high-value Category 7 redemption, luxury travellers eyeing a Southeast Asian beach alternative to the Caribbean, and anyone combining Phu Quoc with a stop in Hanoi, where the well-reviewed Capella awaits. Just book refundable — this project has slipped more than once.