The Ascott Limited has signed management agreements for nine properties totaling more than 3,200 units across Vietnam in the first half of 2026, marking the company’s fastest pace of growth in the country to date. The signings expand Ascott’s Vietnam portfolio by more than 30 percent to roughly 12,000 units across 42 operational and pipeline properties in 14 cities, with new openings progressing from 2028.
Key Facts At A Glance
- Nine new properties signed in Vietnam during the first half of 2026, adding more than 3,200 units
- Portfolio grows by over 30 percent to about 12,000 units across 42 properties in 14 cities
- Four projects signed with longstanding partner Sun Group; five with owners new to Ascott
- Marks the Vietnam debut of The Crest Collection, Ascott’s heritage-focused luxury brand
- New signings span seven brands: Ascott, Citadines, lyf, Oakwood, Somerset, Harris and The Crest Collection
- Vietnam is now Ascott’s third-largest country by pipeline in Asia
- Properties open progressively starting in 2028, following earlier openings including the 693-unit Harris Resort Cam Ranh in 1Q2027
Singapore-headquartered The Ascott Limited, a subsidiary of CapitaLand Investment, disclosed the nine signings on August 5, 2026. The agreements deepen the company’s presence in Hanoi, Ho Chi Minh City and Hai Phong, add three properties in Phu Quoc and one in Danang, and mark the group’s entry into the central coast city of Quy Nhon.
Three of the Phu Quoc projects, totaling 1,400 units, form part of an integrated development in Sunset Town under the Ascott, lyf and Harris brands, while a fourth Sun Group project will bring The Crest Collection to Ho Chi Minh City. In Hanoi, DOJI Group will develop the 181-unit Diamond Crown Westlake by The Crest Collection. Other projects include the 250-unit Citadines Riverside Hai Phong, a 356-unit Oakwood property in Ho Chi Minh City, the 549-unit Somerset Non Nuoc Da Nang Resort and the 357-unit Citadines Quy Nhon Resort.
The signings introduce The Crest Collection, Ascott’s heritage-focused luxury brand, to Vietnam for the first time, with one property each in Hanoi and Ho Chi Minh City. Four of the nine agreements extend Ascott’s long-running partnership with Sun Group, which began with Ascott Tay Ho Hanoi and later expanded to Oakwood Ha Long, while the remaining five involve owners new to the company.
Ascott currently operates 16 properties across seven Vietnamese cities. Upcoming openings include the 693-unit Harris Resort Cam Ranh in the first quarter of 2027 and the 369-unit Citadines Selavia Phu Quoc in the third quarter of 2027, timed ahead of the APEC Economic Leaders’ Meeting scheduled for Phu Quoc that November.
Kevin Goh, Chief Executive Officer of Ascott, said Vietnam is one of the most exciting hospitality growth stories in Asia, citing rising demand in cities, along the coast and across traveler segments. He noted that property owners value a platform able to serve both long and short stays across formats including serviced residences, hotels, resorts and social living properties.