Accor and Sun Group have signed a strategic portfolio agreement that will see the development of more than 5,300 keys across hotels, resorts and serviced residences in Vietnam over the next five years.
The developments will be located in destinations including Phu Quoc and Danang. The agreement will introduce several Accor brands to Vietnam for the first time, including Sofitel Serviced Residences, Swissôtel Living, TRIBE and Ennismore's SO/ brand. The partnership will also expand the presence of existing brands including MGallery, Grand Mercure and ibis Styles.
Duncan O'Rourke, Chief Executive Officer, Premium, Midscale & Economy Division for Middle East, Africa & Asia Pacific, Accor said: "Vietnam's rapid evolution makes it a key growth engine for our region, and this milestone agreement with Sun Group highlights the strength of our joint development ambitions. Our focus is on strategic expansion, bringing the right brands to the right locations to offer travellers deeper, more authentic connections with Vietnam's culture and natural beauty. By introducing a highly curated mix of luxury, lifestyle, and midscale concepts, we are not only expanding Accor's footprint but actively supporting Vietnam's journey as a world-class tourism hub."
Dang Minh Truong, Chairman of the Board of Directors, Sun Group, commented: "Sun Group has been committed to creating world-class destinations that celebrate Vietnam's identity and unlock the tourism potential of remarkable places across the country. This landmark agreement with Accor marks an important step in that journey. By bringing Accor's diverse hospitality ecosystems and new experiences to Vietnam, we are not only elevating hospitality standards but also enhancing the attractiveness and competitiveness of our destinations, generating economic opportunities, and contributing to the sustainable growth of Vietnam's tourism industry."
The first phase of the portfolio includes Bana Hills Hotel Danang – MGallery Collection (250 keys), Ruby Beach Hotel – MGallery Collection (180 keys), SO/ Phu Quoc Ruby Beach (300 keys), Grand Mercure Phu Quoc Ruby Beach (250 keys), TRIBE Hon Thom Phu Quoc (321 keys) and ibis Styles Hon Thom Phu Quoc (588 keys).
Accor currently operates 45 hotels in Vietnam, making it the company's third-largest market in Asia excluding India and Greater China. |
