Ascott, Sun Group Add Four Luxury Projects in Vietnam

The Ascott Limited has deepened its strategic partnership with Vietnam’s Sun Group through four newly signed hospitality projects in Ho Chi Minh City and Phu Quoc, a move that strengthens both companies’ presence in fast-growing luxury and long-stay tourism segments across the country.

Four New Properties Anchor an Expanded Strategic Partnership

According to recent announcements from the companies and industry coverage, Ascott and Sun Group have agreed on four new properties across Vietnam’s largest city and one of its leading island destinations. The pipeline includes a flagship property under The Crest Collection in Ho Chi Minh City, alongside three projects under the Ascott, lyf and HARRIS brands within Sun Group’s Ong Quan Mountain Ecotourism Mixed-Use Urban Area in Sunset Town, Phu Quoc. All four developments are described in public information as upper midscale to luxury products aimed at international visitors, affluent domestic travelers and long-stay guests.

Reports indicate the new signings will collectively add around 1,700 units to Ascott’s network in Vietnam. With these additions, Ascott’s portfolio in the country is expected to reach about 40 properties and more than 10,000 units once existing projects are fully operational. The latest agreements build on a partnership between Ascott and Sun Group first outlined several years ago and now expanding into larger mixed-use tourism ecosystems.

Industry observers note that the projects are scheduled to open around 2028, positioning them to serve both short-term holiday demand and longer-stay segments as Vietnam’s accommodation mix diversifies. The emphasis on branded residences, serviced apartments and lifestyle concepts aligns with a broader shift in Asia Pacific hospitality toward flexible stay options and integrated resort environments.

Flagship Crest Collection Property in Ho Chi Minh City

Publicly available information shows that The Crest Collection property planned for Ho Chi Minh City is intended as a flagship for Ascott’s luxury portfolio in southern Vietnam. The bespoke collection concept focuses on heritage-inspired design, high touch service and limited-unit configurations, which the company has been rolling out in select gateway cities worldwide. In Ho Chi Minh City, the brand is expected to target business travelers, high-net-worth tourists and event-related demand generated by major commercial and sports developments.

The location is strategically aligned with the city’s broader infrastructure program. Ho Chi Minh City is undertaking large-scale projects such as the Rach Chiec National Sports Complex and new transport links, part of an effort to attract more international events, conferences and sporting fixtures. Hospitality analysts suggest that a high-end, collection-style property could benefit from this push, capturing visitors seeking premium accommodation near expanding business and leisure corridors.

Market reports on Vietnam’s largest metropolis point to steady growth in higher-income domestic travelers and a rebound of international arrivals, particularly from Northeast Asia and Europe. This has supported renewed interest in luxury and upper-upscale hotels, as well as extended-stay offerings that can serve consultants, project teams and expatriates attached to long-term urban development initiatives.

Phu Quoc’s Sunset Town Emerges as a Lifestyle and Long-Stay Hub

In Phu Quoc, the three additional Ascott-operated projects are planned within Sun Group’s Ong Quan Mountain Ecotourism Mixed-Use Urban Area in Sunset Town at the island’s southern tip. According to recent Vietnamese-language releases and regional tourism coverage, these will introduce Ascott, lyf and HARRIS brands to a hillside setting overlooking the Gulf of Thailand, integrated with Sun Group’s wider resort, entertainment and residential ecosystem.

The lyf-branded property is designed around co-living and social spaces, appealing to younger travelers, digital nomads and remote workers seeking longer stays in a resort environment. The HARRIS property, meanwhile, is positioned as a vibrant, family-friendly resort concept, complementing the more traditional serviced-residence style of the Ascott-branded project. Together, the three properties expand the accommodation spectrum within Sunset Town from luxury beach resorts to lifestyle-focused and extended-stay options.

These projects are part of a wider slate of investments transforming southern Phu Quoc into a year-round destination. Sun Group has been developing attractions, residential neighborhoods and retail areas around the island, while other global hotel groups have also announced or opened properties in key coastal locations. Observers point to this clustering effect as a catalyst for turning Phu Quoc into one of Vietnam’s most diversified tourism hubs.

Connectivity and Destination Development Support Tourism Growth

The Ascott and Sun Group partnership is unfolding alongside significant aviation and infrastructure upgrades that are reshaping how visitors reach Ho Chi Minh City and Phu Quoc. Phu Quoc International Airport has recorded strong passenger growth in recent years, and Sun Group has entered into collaboration with Changi Airports International to position the facility as a regional hub. Public statements on that partnership highlight plans for improved terminal services and capacity ahead of high-profile events scheduled in the coming years.

At the same time, Sun Group’s affiliated carrier Sun PhuQuoc Airways has expanded its network to link major Vietnamese cities and selected regional destinations directly with Phu Quoc. Reports indicate that the airline is preparing to open new international routes and continue scaling its fleet, providing more nonstop connections into the island and reinforcing its role as a leisure gateway. Higher flight frequencies and a wider route map are seen as key enablers for the premium and long-stay segments targeted by Ascott’s new properties.

In Ho Chi Minh City, ongoing investments in urban transport, event venues and riverfront renewal are expected to support higher visitor volumes and longer lengths of stay. Analysts suggest that as connectivity improves and large-scale mixed-use districts mature, demand for branded residences and serviced apartments should deepen, particularly among business travelers who split their time between Ho Chi Minh City and emerging coastal destinations such as Phu Quoc.

Vietnam Strengthens Its Position in Regional Luxury Hospitality

The four newly signed projects contribute to a broader pattern of international hotel and serviced-residence operators expanding across Vietnam. Recent agreements between Sun Group and other global hospitality brands, as well as signings announced by competing operators in coastal and urban markets, highlight growing confidence in Vietnam’s long-term tourism fundamentals. Industry research points to rising visitor numbers, a young population, and government-backed infrastructure initiatives as key drivers.

For Ascott, the deals with Sun Group in Ho Chi Minh City and Phu Quoc follow a period of accelerated growth across Southeast Asia and new entries in resort destinations around the region. Vietnam is emerging as one of the company’s most important markets, not only for traditional serviced residences but also for lifestyle concepts and collection brands tailored to specific locations and architectural heritage.

Sector analysts note that the combination of Sun Group’s large-scale destination ecosystems and Ascott’s multi-brand portfolio could help elevate Vietnam’s profile among high-spending travelers who are familiar with global hospitality names. If the projects open on schedule and planned connectivity improvements materialize, Ho Chi Minh City and Phu Quoc are expected to see further gains in international arrivals, higher average spending per visitor and a deeper integration into regional luxury travel circuits.