The Ascott has partnered with the Sun Group, one of Vietnam’s top real estate developers, to manage the country’s largest serviced residence integrated complex.
To date, Ascott has signed over 2,800 additional units in Vietnam, surpassing the previous year’s full-year signings in the country.
Within Sun Group’s Tay Ho View Complex in Hanoi, Ascott will manage 1,905 units across three unique serviced residence brands.
The magnificent integrated construction will redefine the city’s skyline and rejuvenate the city’s elite waterfront Tay Ho district, making it Vietnam’s new landmark.
In Vietnam, Ascott will launch the Crest Collection brand.
The collection, which is currently only available in France, will make its debut in Asia for the first time, offering guests a one-of-a-kind luxury experience through a distinct blend of character and heritage.
Ascott will also debut its hallmark Ascott the Residence brand, as well as Citadines Apart’hotel, its fastest-growing brand.
The three serviced residences are set to open in phases beginning in the first quarter of 2023.
Kevin Goh, chief executive of lodging for Ascott owner CapitaLand Investment, said during the signing ceremony between Ascott and Sun Group: “Forming strategic collaborations with leading industry players continues to be a key growth strategy for Ascott.
“It provides us with accelerated access to a pipeline of quality projects to grow our global portfolio and our recurring fee income as they open and stabilize.
“The project will be a flagship showcase of Ascott’s hospitality capabilities.
“Together, we look forward to introducing a new architectural beacon in Vietnam, attracting local and international guests to find their home away from home with us.
“Our strategic partnership will also pave the way for Ascott to collaborate on more lodging projects with Sun Group in the future.”
– India’s new age travel digital media