Marriott to quadruple portfolio in Vietnam
Marriott has announced plans to expand its portfolio in Vietnam, expecting to add nearly 9,000 rooms including brand debuts for Ritz-Carlton Residences, Marriott Hotels, Westin and Courtyard by Marriott.
“Vietnam experienced impressive pre-pandemic economic growth driven in part by coordinated development policies and the strong investment in infrastructure,” says Rajeev Menon, President of Asia Pacific (excluding Greater China) at Marriott International. “Our growth in Vietnam reflects the trust our local owners and franchisees continue to have in Marriott, and we look forward to presenting them with opportunities to leverage our comprehensive portfolio of 30 brands, together with our strong distribution network.”
Sheraton Hotels & Resorts expects to mark its arrival in several new destinations across Vietnam, including on the Emerald Island of Phu Quoc, the UNESCO World Heritage Site of Ha Long Bay, the “City of Eternal Springs” Dalat and the shores of Binh Chau. A new Renaissance Hotels is also planned to open in the seafront city of Danang, while Le Méridien Hotels & Resorts plans to debut in Danang and Cam Ranh. The Marriott Hotels brand is expected to land in Hanoi and Hoi An, while wellness brand Westin is set to open in Hanoi and Cam Ranh. Finally, extended stay brand Marriott Executive Apartments is slated to arrive in Danang.
Marriott’s select service portfolio is growing in Vietnam too, catering for both domestic and international travellers. Fairfield by Marriott is slated to be introduced in locations such as Vinh Yen, Ha Long and Hanoi, while several Courtyard by Marriott hotels are set to open across Danang, Ha Long and Nha Trang.
With Asia Pacific (excluding China) now one of the world’s fastest growing regions for branded residences, led in part by significant growth in Vietnam, Marriott anticipates opening several branded residences over the next four years. In 2021, the company announced a milestone branded residential project that is expected to include close to 4,200 dual-branded residential and officetel units in Ho Chi Minh City, with the project expected to serve as the world’s largest hotel-branded residential project and slated to open in phases in late 2024. The Ritz-Carlton Residences, Hanoi is also set to make its eagerly awaited debut in Vietnam in 2024.
Jakob Helgen, Area Vice President – Thailand, Vietnam, Cambodia and Myanmar at Marriott, comments: “Vietnam has experienced record levels of tourism over the years as international travellers flocked to the country and domestic travellers began to discover what was available in their backyard. With the reopening of borders, we are hopeful Vietnam will rebound rapidly, and are excited to expand across more of the country.”
Marriott International currently operates ten properties in Vietnam, comprising 3,294 rooms and spanning six of the company’s brands. These hotels and resorts are located across six key business and leisure destinations including Hanoi, Ho Chi Minh City, Danang, Nha Trang, Phu Quoc and Binh Duong.
