Ascott inks management agreements for nine Vietnam properties in 1H2026, expects momentum to continue
The record signing pace signals rising owner confidence in Vietnam’s hospitality demand and could broaden accommodation supply across corporate, leisure and emerging coastal markets from 2028.
Ascott signed management agreements for nine Vietnam properties exceeding 3,200 units in 1H2026, expanding its national portfolio by over 30% to about 12,000 units.
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Singapore-based global hospitality company The Ascott has grown its portfolio and accelerated its Vietnam expansion with nine signings in the country during the first half of the year.
It inked management agreements for properties totalling more than 3,200 units in 1H2026. That is the company’s fastest pace of growth in Vietnam to date, said Ascott, which is wholly owned by CapitaLand Investment, in a July 30 news release.
The newly signed properties will open progressively from 2028.
Ascott's new Vietnam signings at a glance:
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Four of the projects are with Ascott’s longstanding partner Sun Group, a major real estate developer in the country. Five are with owners new to Ascott.
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The signings expand the Vietnam portfolio by more than 30% to about 12,000 units across 42 operational and pipeline properties in 14 cities.
The latest announcement comes as Vietnam cements its position as one of Asia’s most dynamic travel markets, Ascott noted.
Of the nine signings, four will deepen the hospitality operator’s presence in Hanoi, Ho Chi Minh City, and Hai Phong — where corporate and bleisure travel are driving demand for extended stays.
Meanwhile, three are in Phu Quoc island, where the Apec Economic Leaders’ Meeting will be held in November 2027. And one new property is in Da Nang, a popular beach destination. Ascott is also entering Quy Nhon, an emerging central coast city.
Kevin Goh, CEO of Ascott, said hospitality demand is rising in Vietnam, and the flex-hybrid model gives Ascott the versatility to capture it through asset-light growth.
“Property owners value that our platform can serve both long and short stays, and operate formats as diverse as serviced residences, hotels, resorts and social living properties,” Goh added.
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In terms of the company’s brands, the signings 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.
The other signings span the Ascott, Citadines, lyf, Oakwood, Somerset, and Harris brands.
Serena Lim, chief growth officer at the company, noted that Vietnam’s hotel development pipeline is moving quickly into construction, particularly in Hanoi and Ho Chi Minh City, and owners are selecting their operating partners now.
With active discussions underway in several markets, Ascott expects the signing momentum to continue into the second half of the year, she said.
David Cumming, regional general manager for Indochina at the company, highlighted that Vietnam is pursuing an ambitious growth agenda. With a strong pipeline ahead, Ascott is now focusing on delivery, opening on schedule, and running properties that perform, he continued.