When did Ascott sign its nine new Vietnam properties, and how big is the deal?

Ascott signed management agreements for nine properties totalling more than 3,200 units in Vietnam in the first half of 2026, its fastest pace of growth in the country to date. The signings expand its Vietnam portfolio by more than 30%.

Where are Ascott's newly signed Vietnam properties located?

The nine properties deepen Ascott's presence in Hanoi, Ho Chi Minh City and Hai Phong, expand along the coast in Da Nang and Phu Quoc, and mark its first entry into Quy Nhon. Three of the signings are in Phu Quoc, ahead of the APEC Economic Leaders' Meeting held on the island in November 2027.

Which brands are included in Ascott's 2026 Vietnam signings?

The signings span seven brands: Ascott, Citadines, lyf, Oakwood, Somerset, Harris and The Crest Collection. They mark the Vietnam debut of The Crest Collection, Ascott's heritage-focused luxury brand, with one property each in Hanoi and Ho Chi Minh City.

When will the newly signed Ascott properties in Vietnam open?

The nine newly signed properties will open progressively from 2028. Ahead of them, Ascott has further Vietnam openings scheduled: Ascott Tay Ho Hanoi will launch 1,165 guestrooms and 10 food and beverage concepts in phases from 2027, followed by Harris Resort Cam Ranh in the first quarter of 2027 and Citadines Selavia Phu Quoc in the third quarter of 2027.

How large is Ascott's portfolio in Vietnam now?

Following the 2026 signings, Ascott's Vietnam portfolio stands at about 12,000 units across 42 operational and pipeline properties in 14 cities, making Vietnam its third largest country by pipeline in Asia. Ascott currently operates 16 properties across seven cities in the country.

Who are Ascott's partners behind the 2026 Vietnam signings?

Four of the nine signings are with Sun Group, a longstanding Ascott partner, and five are with owners new to Ascott. The new owners include DOJI Group, one of Vietnam's five largest private enterprises, which is bringing Diamond Crown Westlake by The Crest Collection to Hanoi's Tay Ho district.

What is driving Ascott's expansion in Vietnam?

Ascott's expansion reflects Vietnam's standing as one of Asia's most dynamic travel markets. International arrivals reached a record 21.2 million in 2025 and grew 15% to 12.3 million in the first half of 2026, while new expressways, airport upgrades and China-plus-one supply chain strategies are lifting both leisure and extended-stay demand.