HANOI, Vietnam — The Ascott Limited has expanded its partnership with Sun Group through the signing of four new hospitality projects in Ho Chi Minh City and Phu Quoc, a move that strengthens its footprint in two of Vietnam’s most significant tourism and commercial markets.
Announced on 11 June 2026, the agreement adds one property under The Crest Collection in Ho Chi Minh City and a multi-brand integrated hospitality development in Phu Quoc featuring the Ascott, lyf, and HARRIS brands. The expansion increases Ascott’s portfolio in Vietnam to 40 properties with more than 10,100 units across operational and pipeline developments.
The latest projects form part of Ascott’s broader growth strategy in Vietnam, where the company continues to scale its presence across key gateway cities and tourism destinations. The developments also reflect an ongoing collaboration between Ascott, the lodging business unit wholly owned by CapitaLand Investment, and Vietnamese developer Sun Group.
The Ho Chi Minh City project will mark the debut of The Crest Collection in South Vietnam. Scheduled to open in 2028, the property will offer 146 keys and become part of The Crest Collection’s growing presence across Asia.
Located within Ho Chi Minh City’s commercial, hospitality, and lifestyle district, the property will be positioned near major attractions including Nguyen Hue Walking Street, Saigon Opera House, and Ben Thanh Market. The development will also sit close to luxury hotels, Grade A office towers, upscale dining establishments, and premium retail destinations.
The location is supported by access to major arterial roads and Metro Line 1, enhancing connectivity for both domestic and international visitors. The property is designed to serve multiple demand segments, including business travellers, diplomatic visitors, affluent leisure guests, and long-stay residents.
Facilities at the hotel are expected to include an all-day dining restaurant, café bar, reading room, executive lounge, and fitness centre.
For Ascott, the launch of The Crest Collection in Ho Chi Minh City represents an expansion of its luxury and lifestyle offerings in one of Vietnam’s most important business hubs. As the country’s largest commercial centre, Ho Chi Minh City continues to attract corporate activity, foreign investment, and international travel, making it a strategic market for hospitality operators seeking long-term growth opportunities.
Alongside the Ho Chi Minh City development, Ascott and Sun Group will also introduce a large-scale integrated hospitality project in Phu Quoc under three distinct brands.
Known as the Phu Quoc Hillside Development, the project will be located within Sunset Town in An Thoi Ward, South Phu Quoc. Positioned within the Ong Quan Mountain precinct, the development will provide access to several tourism and lifestyle attractions, including Bai Kem Beach, Sun World Hon Thom, Phu Quoc International Airport, and the expanding Sunset Town and Harbour District.
The integrated development is also scheduled to open in 2028.
The largest components of the project will be the Ascott and lyf properties, each offering 573 keys.
The lyf property is designed around the brand’s social living concept, targeting next-generation travellers seeking community-oriented experiences. The development will feature co-working facilities, entertainment areas, a swimming pool, and communal lifestyle spaces intended to support flexible work, leisure, and social interaction.
The Ascott-branded property will focus on premium serviced residence accommodation. Facilities planned for the development include an all-day dining restaurant, executive lounge, ballroom, swimming pool, gym, kids’ club, and leisure-focused amenities.
Completing the integrated project is a 441-key HARRIS property. Positioned toward family and leisure travel segments, the hotel will include a kids’ club, games area, swimming pool, and a range of indoor and outdoor recreational facilities.
Together, the three brands are intended to serve a broad range of guest profiles, from upscale leisure travellers and families to long-stay visitors and destination event participants.
The scale and diversity of the Phu Quoc development highlight growing investor interest in integrated tourism destinations that can accommodate multiple market segments within a single precinct. By combining serviced residences, social living concepts, and family-oriented hospitality offerings, the project aims to capture demand from both domestic and international visitors.
According to Ascott, Ho Chi Minh City and Phu Quoc represent two highly strategic markets that align with the company’s long-term expansion plans.
David Cumming, Regional General Manager, Indochina, said the projects further strengthen the relationship between Ascott and Sun Group while supporting the company’s ambitions in Vietnam’s growth destinations.
He noted that the milestone comes as Vietnam prepares for major international events, including APEC, and reflects the country’s increasing importance on the global stage. He also highlighted the role of Ascott’s diversified brand portfolio in addressing evolving traveller expectations through luxury serviced residences, social living concepts, and family-focused hospitality experiences.
Sun Group also identified Ho Chi Minh City and Phu Quoc as two key drivers of Vietnam’s tourism growth.
Nguyễn Vũ Quỳnh Anh, Deputy CEO of Sun Group, said the partnership with Ascott would help broaden Vietnam’s appeal to international travellers through a diversified hospitality offering while enhancing destination experiences across both markets.
The latest agreement further expands a partnership focused on developing hospitality assets in locations with strong tourism and economic growth potential. For both companies, the projects represent an opportunity to strengthen their presence in destinations that continue to attract investment, infrastructure development, and visitor demand.
With four new projects now added to its pipeline, Ascott continues to deepen its position in Vietnam through a multi-brand expansion strategy that spans luxury accommodation, serviced residences, social living concepts, and family-focused hospitality developments. The additions also reinforce the growing importance of Ho Chi Minh City and Phu Quoc as priority markets for hospitality investment and destination development in Vietnam.
