You want your intent to be as direct as possible. You are leaving, plain and simple. There's no need to mention where you're going. You can discuss that with your boss (though you're not obligated to do so) and your colleagues if you want, but there's little purpose for including that in your resignation letter. That's especially true if you're moving over to a competitor__you don't want to create ill will in this letter or cause any drama.
What Else Should I Do When Resigning? First, out of respect and common courtesy, you would ideally tell your manager in person that you are resigning. If you can't wait for that or work remotely or some other complication prevents that, the telephone is the next best option. You can choose to follow up or accompany that discussion with a formal letter of resignation afterwards, but it would be a rare workplace that would require that formality.