The signings come as Vietnam cements its position as one of Asia's most dynamic travel markets. International arrivals reached a record 21.2 million in 2025 and grew a further 15% to 12.3 million in the first half of 2026[1]. Domestic tourism adds further depth to the market, with 135.5 million domestic trips in 2025 and 81 million in the first half of 2026 alone[2]. New expressways, airport upgrades and expanded flight connectivity are opening up destinations along the coastline, while companies adopting China-plus-one supply chain strategies are driving extended-stay demand in industrial and administrative hubs. In addition, the APEC Economic Leaders' Meeting in Phu Quoc in November 2027 is accelerating infrastructure investment across the island.
The new signings position Ascott across this growth. Four signings deepen its presence in Hanoi, Ho Chi Minh City and Hai Phong, where corporate and bleisure travel underpin extended-stay demand. Three signings in Phu Quoc expand its offerings on the island ahead of the summit, while a new property strengthens its position in Da Nang, one of the country's leading beach destinations. Ascott also enters Quy Nhon, an emerging central coast city named by Tripadvisor among the world's top 25 trending destinations for 2026. In brand terms, 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 remaining signings span Ascott, Citadines, lyf, Oakwood, Somerset and Harris.
Mr Kevin Goh, Chief Executive Officer, Ascott, said:
“Vietnam is one of the most exciting hospitality growth stories in Asia. 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. 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. With these new signings, we are reinforcing our leadership in serviced residences and extended stay while extending into the leisure destinations and luxury segments where new demand is taking shape.”
Ms Serena Lim, Chief Growth Officer, Ascott, said:
“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. In these conversations, Ascott's operating track record in extended stay is a clear differentiator, offering owners resilient returns through market cycles, while our multi-typology brand strategy allows us to deploy the right brand and format for each opportunity. The depth of owner confidence underscores the opportunity in Vietnam, and with active discussions underway across several markets, we expect the signing momentum to continue into the second half of the year.”
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