Ascott Limited has announced the signing of management agreements for nine new properties in Vietnam during the first half of 2026. This strategic move adds over 3,200 units to its portfolio, marking a more than 30% increase, bringing the total to approximately 12,000 units across 42 properties in 14 cities. The newly signed properties are expected to open progressively from 2028.
The expansion strengthens Ascott's presence in key cities such as Hanoi and Ho Chi Minh City and extends its reach to coastal destinations like Da Nang, Phu Quoc, and Quy Nhon. The move comes amid a surge in tourism, with Vietnam recording 21.2 million international arrivals in 2025 and continued growth into 2026.
Kevin Goh, CEO of Ascott, highlighted Vietnam's dynamic hospitality market, stating, “Demand is rising in the cities, along the coast and across traveller segments, and our flex-hybrid model gives us the versatility to capture it through asset-light growth.” The new signings include partnerships with Sun Group and new owners, introducing The Crest Collection to Vietnam.
Serena Lim, Chief Growth Officer, noted the rapid development of Vietnam's hotel pipeline, particularly in Hanoi and Ho Chi Minh City, emphasising Ascott's strong track record in extended stays as a key differentiator. With active discussions ongoing, Ascott anticipates continued signing momentum in the latter half of the year.
The expansion reflects Ascott's commitment to leveraging Vietnam's growing travel demand and investment opportunities, positioning itself as a leader in serviced residences and extended stays whilst tapping into leisure and luxury segments
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