HANOI, Vietnam — Accor and Sun Group have strengthened their long-standing collaboration by signing a strategic portfolio agreement that will add more than 5,300 hospitality keys across Vietnam over the next five years, according to a report from Accor. The agreement represents a significant expansion of both companies' development pipeline and introduces several hospitality brands to the Vietnamese market for the first time, supporting the continued evolution of the country's accommodation landscape.
The new portfolio will be developed in key tourism destinations including Phu Quoc and Danang. It will comprise hotels, resorts, and serviced residences across multiple market segments, broadening the range of hospitality offerings while expanding the footprint of both organizations in one of Southeast Asia's fastest-growing tourism markets.
The agreement reflects the next phase of the relationship between Accor, a global hospitality group, and Sun Group, one of Vietnam's leading real estate and tourism developers. Through the expanded collaboration, both companies aim to develop hospitality assets that combine internationally recognized brands with destination-specific experiences while supporting tourism development across strategic locations.
As part of the portfolio, Accor will introduce several brands to Vietnam for the first time. These include Sofitel Serviced Residences, Swissôtel Living, TRIBE, and Ennismore's lifestyle brand SO/. At the same time, the development will strengthen the presence of existing brands including MGallery, Grand Mercure, and ibis Styles, further diversifying Accor's brand portfolio in the country.
The introduction of new hospitality concepts represents a broader expansion strategy that covers luxury, lifestyle, premium, and midscale accommodation segments. Alongside hotels and resorts, the inclusion of serviced residences reflects growing diversification within Vietnam's hospitality sector and expands the range of accommodation products available across major tourism destinations.
Duncan O'Rourke, Chief Executive Officer, Premium, Midscale & Economy Division for Middle East, Africa & Asia Pacific at Accor, said Vietnam continues to play an increasingly important role within the company's regional growth strategy.
He said the agreement demonstrates the shared development ambitions between Accor and Sun Group while reinforcing Accor's approach of expanding strategically by matching brands with destinations suited to their positioning.
According to O'Rourke, the combination of luxury, lifestyle, and midscale concepts is intended not only to expand Accor's presence in Vietnam but also to support the country's development as a globally competitive tourism destination by providing hospitality experiences connected to local culture and natural environments.
Sun Group also positioned the agreement as part of its broader destination development strategy.
Dang Minh Truong, Chairman of the Board of Directors of Sun Group, said the company has remained focused on creating destinations that showcase Vietnam's identity while unlocking tourism potential across different regions of the country.
He said the expanded partnership with Accor enables the introduction of a broader hospitality ecosystem and new guest experiences that strengthen hospitality standards while improving the attractiveness and competitiveness of the destinations where the projects will be developed. He also noted that the collaboration is expected to generate economic opportunities and contribute to the sustainable growth of Vietnam's tourism industry.
The first phase of projects under the strategic portfolio includes six hospitality developments across Danang and Phu Quoc.
The Bana Hills Hotel Danang will operate under the MGallery Collection brand with 250 keys, while Ruby Beach Hotel will also join the MGallery Collection with 180 keys.
In Phu Quoc, SO/ Phu Quoc Ruby Beach will add 300 keys to the portfolio, accompanied by Grand Mercure Phu Quoc Ruby Beach with 250 keys.
The pipeline will also include TRIBE Hon Thom Phu Quoc, offering 321 keys, alongside ibis Styles Hon Thom Phu Quoc with 588 keys.
Together, these projects represent the initial rollout of a broader five-year development pipeline that will ultimately exceed 5,300 keys across multiple hospitality formats.
The portfolio expansion comes as Vietnam continues strengthening its position within Asia's tourism market. According to Accor, strong domestic travel demand, increasing international visitor arrivals, and growing interest in leisure destinations are reshaping the country's hospitality landscape.
These market conditions provide the backdrop for the expanded collaboration, with both companies aligning their long-term development plans to capitalize on continued demand across Vietnam's tourism sector.
For Accor, the agreement also expands an already significant market presence. The company currently operates 45 hotels in Vietnam, making the country its third-largest market in Asia, excluding India and Greater China.
The addition of more than 5,300 keys through the new partnership will further reinforce Accor's presence across multiple hospitality segments while extending its network into additional destinations.
From a business development perspective, the agreement significantly enlarges Accor's development pipeline in Vietnam while deepening its strategic relationship with one of the country's largest tourism and real estate developers. Rather than focusing on a single brand or individual asset, the partnership spans multiple hospitality categories and destinations, allowing both organizations to expand through a diversified portfolio approach.
The agreement also illustrates how international hotel operators and domestic developers are combining brand expansion with destination development. By introducing new hospitality brands alongside established ones, the collaboration broadens Vietnam's accommodation mix while supporting the continued growth of integrated tourism destinations.
The inclusion of hotels, resorts, and serviced residences across multiple brands provides a multi-segment development model that allows both companies to address different areas of the hospitality market under a single long-term partnership framework.
With developments planned across major tourism destinations over the next five years, the expanded agreement establishes one of the larger hospitality pipeline commitments announced by Accor in Vietnam, reinforcing the company's long-term expansion strategy while extending Sun Group's destination portfolio through internationally recognized hospitality brands.
The new portfolio will be developed in key tourism destinations including Phu Quoc and Danang. It will comprise hotels, resorts, and serviced residences across multiple market segments, broadening the range of hospitality offerings while expanding the footprint of both organizations in one of Southeast Asia's fastest-growing tourism markets.
The agreement reflects the next phase of the relationship between Accor, a global hospitality group, and Sun Group, one of Vietnam's leading real estate and tourism developers. Through the expanded collaboration, both companies aim to develop hospitality assets that combine internationally recognized brands with destination-specific experiences while supporting tourism development across strategic locations.
As part of the portfolio, Accor will introduce several brands to Vietnam for the first time. These include Sofitel Serviced Residences, Swissôtel Living, TRIBE, and Ennismore's lifestyle brand SO/. At the same time, the development will strengthen the presence of existing brands including MGallery, Grand Mercure, and ibis Styles, further diversifying Accor's brand portfolio in the country.
The introduction of new hospitality concepts represents a broader expansion strategy that covers luxury, lifestyle, premium, and midscale accommodation segments. Alongside hotels and resorts, the inclusion of serviced residences reflects growing diversification within Vietnam's hospitality sector and expands the range of accommodation products available across major tourism destinations.
Duncan O'Rourke, Chief Executive Officer, Premium, Midscale & Economy Division for Middle East, Africa & Asia Pacific at Accor, said Vietnam continues to play an increasingly important role within the company's regional growth strategy.
He said the agreement demonstrates the shared development ambitions between Accor and Sun Group while reinforcing Accor's approach of expanding strategically by matching brands with destinations suited to their positioning.
According to O'Rourke, the combination of luxury, lifestyle, and midscale concepts is intended not only to expand Accor's presence in Vietnam but also to support the country's development as a globally competitive tourism destination by providing hospitality experiences connected to local culture and natural environments.
Sun Group also positioned the agreement as part of its broader destination development strategy.
Dang Minh Truong, Chairman of the Board of Directors of Sun Group, said the company has remained focused on creating destinations that showcase Vietnam's identity while unlocking tourism potential across different regions of the country.
He said the expanded partnership with Accor enables the introduction of a broader hospitality ecosystem and new guest experiences that strengthen hospitality standards while improving the attractiveness and competitiveness of the destinations where the projects will be developed. He also noted that the collaboration is expected to generate economic opportunities and contribute to the sustainable growth of Vietnam's tourism industry.
The first phase of projects under the strategic portfolio includes six hospitality developments across Danang and Phu Quoc.
The Bana Hills Hotel Danang will operate under the MGallery Collection brand with 250 keys, while Ruby Beach Hotel will also join the MGallery Collection with 180 keys.
In Phu Quoc, SO/ Phu Quoc Ruby Beach will add 300 keys to the portfolio, accompanied by Grand Mercure Phu Quoc Ruby Beach with 250 keys.
The pipeline will also include TRIBE Hon Thom Phu Quoc, offering 321 keys, alongside ibis Styles Hon Thom Phu Quoc with 588 keys.
Together, these projects represent the initial rollout of a broader five-year development pipeline that will ultimately exceed 5,300 keys across multiple hospitality formats.
The portfolio expansion comes as Vietnam continues strengthening its position within Asia's tourism market. According to Accor, strong domestic travel demand, increasing international visitor arrivals, and growing interest in leisure destinations are reshaping the country's hospitality landscape.
These market conditions provide the backdrop for the expanded collaboration, with both companies aligning their long-term development plans to capitalize on continued demand across Vietnam's tourism sector.
For Accor, the agreement also expands an already significant market presence. The company currently operates 45 hotels in Vietnam, making the country its third-largest market in Asia, excluding India and Greater China.
The addition of more than 5,300 keys through the new partnership will further reinforce Accor's presence across multiple hospitality segments while extending its network into additional destinations.
From a business development perspective, the agreement significantly enlarges Accor's development pipeline in Vietnam while deepening its strategic relationship with one of the country's largest tourism and real estate developers. Rather than focusing on a single brand or individual asset, the partnership spans multiple hospitality categories and destinations, allowing both organizations to expand through a diversified portfolio approach.
The agreement also illustrates how international hotel operators and domestic developers are combining brand expansion with destination development. By introducing new hospitality brands alongside established ones, the collaboration broadens Vietnam's accommodation mix while supporting the continued growth of integrated tourism destinations.
The inclusion of hotels, resorts, and serviced residences across multiple brands provides a multi-segment development model that allows both companies to address different areas of the hospitality market under a single long-term partnership framework.
With developments planned across major tourism destinations over the next five years, the expanded agreement establishes one of the larger hospitality pipeline commitments announced by Accor in Vietnam, reinforcing the company's long-term expansion strategy while extending Sun Group's destination portfolio through internationally recognized hospitality brands.
