The Ascott Limited, a globally operating hospitality company headquartered in Singapore, is intensifying its expansion in Vietnam. In recent weeks, the company has concluded management agreements for nine new properties with a total capacity of 3,200 units. This development leads to an increase in Ascott's Vietnamese portfolio by over 30 percent, totalling approximately 12,000 units across 42 properties, distributed over 14 cities – this includes both currently operational and projected properties. With this expansion, Vietnam becomes the company's third-largest pipeline market within Asia. The gradual commissioning of the newly contracted properties is planned from 2028 onwards.
The current expansion is based on the dynamic development of the Vietnamese travel market. In 2025, 21.2 million international arrivals were registered, setting a new record. In the first half of 2026, this number further increased by 15 percent to 12.3 million. Domestic tourism also shows a significant increase with 135.5 million trips in 2025 and 81 million in the first half of 2026. Improved infrastructure, including new motorways, expanded airports, and increased flight connections, is increasingly opening up coastal regions. Simultaneously, demand for long-term accommodation in economic and administrative centres such as Haiphong is rising. Infrastructure development on Phu Quoc island will also be further accelerated by the APEC summit in November 2027.
Strategic Partnerships and New Locations
Of the nine newly signed projects, four will be realised in collaboration with long-standing partner Sun Group. The remaining five properties will be developed with owners who are entering into a cooperation with Ascott for the first time. These strategic partnerships underpin Ascott's market penetration in Vietnam.
- —Phu Quoc: Three properties under the brands lyf, Ascott The Residence, and Harris with a total of 1,400 units in the Sunset Town holiday complex, near Bai Kem Beach and the port infrastructure.
- —Ho Chi Minh City: One property from The Crest Collection (154 units) in the luxury and business district near Nguyen Hue Walking Street, as well as a new Oakwood in the Thao Dien residential area (356 units).
- —Hanoi: Diamond Crown Westlake by The Crest Collection with 181 units in the Tay Ho district directly on West Lake, marking the brand's debut in northern Vietnam.
- —Haiphong: Citadines Riverside Hai Phong with 250 units in the new Thuy Nguyen administrative centre.
- —Da Nang: Somerset Non Nuoc Da Nang Resort with 549 serviced apartments in a direct beachside location, near golf courses and the historic city of Hoi An (UNESCO World Heritage Site).
Additionally, the Citadines Quy Nhon Resort with 357 studios and apartments will open in Quy Nhon, an emerging travel destination on Vietnam's central coast according to Tripadvisor.
Development and Outlook in Southeast Asia
Ascott currently operates 16 properties in seven Vietnamese cities. Most recently, Lasong Hotel & Villas Sam Son by The Unlimited Collection became fully operational in April this year. Further openings are planned for 2027, including Ascott Tay Ho Hanoi with 1,165 guest rooms and ten gastronomic concepts, including the debut of Maison Kayser in Hanoi. The opening of Harris Resort Cam Ranh (693 units) is scheduled for the first quarter of 2027, followed by Citadines Selavia Phu Quoc with 369 studios and apartments in the third quarter of 2027.
The intensified expansion in Vietnam is part of a successful year for Ascott in Southeast Asia. In 2025, over 7,300 new units were contracted in the region, representing an increase of 55 percent compared to the previous year, 2024. The hospitality consulting firm Horwath HTL ranked Ascott among the top three hospitality companies in the region in 2025 due to these new agreements.
