Ascott Accelerates Vietnam Growth with Nine New Properties

Rapid Portfolio Expansion in Vietnam

Ascott signed management agreements for nine properties in Vietnam during the first half of 2026. This expansion adds more than 3,200 units to its portfolio. The company stated this represents its quickest growth rate in the country to date. These additions increase Ascott's Vietnam presence by over 30 per cent.

The portfolio now comprises approximately 12,000 units across 42 operational and pipeline properties. These properties are spread across 14 cities within Vietnam. Vietnam has become Ascott's third-largest country by pipeline in Asia. The newly signed properties are scheduled to open progressively from 2028.

Strategic Partnerships and Brand Introductions

The new agreements include four projects with Sun Group, a longstanding partner for Ascott. Five additional projects involve new owners collaborating with the hospitality group. This expansion deepens Ascott's presence in key urban centres. These include Hanoi, Ho Chi Minh City, and Hai Phong. The company also adds three properties in Phu Quoc and one in Danang.

Notably, Ascott will enter Quy Nhon with a new property. The nine new properties span several brands. These are Ascott, Citadines, lyf, Oakwood, Somerset, Harris, and The Crest Collection. The Crest Collection will debut in Vietnam with properties in Hanoi and Ho Chi Minh City.

Detailed Project Developments

Three of the Sun Group projects, totalling 1,400 units, will form part of an integrated development. This development is located in Sunset Town, Phu Quoc. These properties will operate under the Ascott, lyf, and Harris brands. A fourth Sun Group project will introduce The Crest Collection to Ho Chi Minh City. In Hanoi, DOJI Group will develop the 181-unit Diamond Crown Westlake.

This property will also operate under The Crest Collection brand. Other new projects include the 250-unit Citadines Riverside Hai Phong. A 356-unit Oakwood property is planned for Ho Chi Minh City. Additionally, a 549-unit Somerset Non Nuoc Da Nang Resort is planned. The portfolio also adds a 357-unit Citadines Quy Nhon Resort.

Current Operations and Future Outlook

Ascott currently operates 16 properties across seven cities in Vietnam. Upcoming openings include the 693-unit Harris Resort Cam Ranh in the first quarter of 2027. The 369-unit Citadines Selavia Phu Quoc is also scheduled to open in the third quarter of 2027. This Phu Quoc opening precedes the APEC Economic Leaders’ Meeting in Phu Quoc this November.

Kevin Goh, CEO of Ascott, noted Vietnam’s robust hospitality growth. He stated that property owners value Ascott’s platform. This platform supports both long and short stays. It also operates diverse formats, including serviced residences, hotels, resorts, and social living properties. Goh added that these new signings reinforce Ascott's leadership in extended stay. They also expand its reach into leisure destinations and luxury segments, where new demand is emerging.

Implications for Travel and Industry

This significant expansion by Ascott reveals strong confidence in Vietnam’s travel and hospitality sector. For travellers, it means a wider selection of accommodation options. These choices span various segments, from serviced residences to luxury resorts. They are available in both established cities and growing leisure destinations.

The introduction of The Crest Collection also expands luxury stay options. For the industry, Ascott’s aggressive growth demonstrates a strategic focus on Vietnam. This move could prompt other international hospitality groups to increase their investments.

It reinforces Vietnam's position as a key market for diverse accommodation types, particularly extended stays and resort offerings.