Hotel giant Marriott signs deals to open 3 new resorts in Vietnam

By Tri Duc
Fri, October 27, 2023 | 10:22 am GMT+7

Marriott International, Inc. has signed agreements to open three new resorts in Vietnam in a move to expand its luxury portfolio, the U.S. hotel operator said on Thursday.

The Ritz-Carlton Reserve and The Luxury Collection will be based on Hon Thom island in the southern province of Kien Giang, and a JW Marriott hotel will be opened in Trang An, a popular eco-tourism spot in the northern province of Ninh Binh.

Marriott International signed three agreements for the locations recently during a visit by president and CEO Anthony Capuano. The signing marked the debut of Ritz-Carlton Reserve and The Luxury Collection as new brands in Vietnam, and the third JW Marriott hotel in Vietnam, after Hanoi and Phu Quoc island.

JW Marriott Hanoi Hotel. Photo courtesy of the hotel.

JW Marriott Hanoi Hotel. Photo courtesy of the hotel.

JW Marriott Trang An Resort & Spa is slated for opening in 2028. The project is being developed by Vietnamese multi-sector conglomerate Bitexco, also the owner of JW Marriott Hanoi. It will feature 150 spacious rooms and suites, plus a collection of 35 one- and two-bedroom villas, two restaurants, a café, lobby lounge and two bars, leisure facilities, and event spaces.

The Luxury Collection resort, owned by Vietnamese realty developer Sun Group, is set for opening in 2029. It is expected to have 305 rooms and suites, two pool areas, a kids’ club, activity center, fitness center, spa, six restaurants and bars, and event spaces. Sun Group is also the owner of JW Marriott Phu Quoc Emerald Bay Resort & Spa.

The Ritz-Carlton Reserve resort, also owned by Sun Group, is anticipated to open in 2028. It is designed to have 40 pool villas, two resort pools, a spa, salon, fitness center, three restaurants, three bars, and event spaces.

“Vietnam is a growing market for luxury travel, with rising demand from both international and domestic sectors. These signings further underscore our commitment to the future of hospitality and luxury in Vietnam,” said Rajeev Menon, president for Asia Pacific (excluding China) of Marriott International.

“For overseas guests, Vietnam’s status as a destination with many natural and cultural wonders makes it ideal for visitors seeking one-of-a-kind experiences. The country’s domestic market interest in luxury travel is driving a rise in demand for global luxury brands,” Menon added.

These signings add to Marriott’s robust portfolio in Vietnam, which is set to expand to more than 50 properties across the country, as Marriott currently operates 16 facilities in the country under eight brands in 10 destinations.

Marriott International Inc. plans to open 20 new luxury hotels and resorts in top tourist destinations like Hanoi, Ho Chi Minh City, Da Nang and Phu Quoc Island as the nation’s tourism industry recovers, Anthony Capuano said to Prime Minister Pham Minh Chinh at a meeting on Wednesday.

Comments (0)
  • Read More
PV Power's arm posts 5-fold jump in Q3 profit on margin recovery

PV Power's arm posts 5-fold jump in Q3 profit on margin recovery

PetroVietnam Power Nhon Trach 2 JSC (HoSE: NT2) reported a sharp rebound in third-quarter earnings as improved margins and higher revenue lifted profits nearly fivefold from a year earlier.

Companies - Wed, October 22, 2025 | 8:37 am GMT+7

TCBS overtakes SSI to become Vietnam’s largest securities company by market cap

TCBS overtakes SSI to become Vietnam’s largest securities company by market cap

Over 2.3 billion shares of Techcom Securities JSC (TCBS) debuted on the Ho Chi Minh City Stock Exchange (HoSE) on Tuesday. The stock, TCX, recorded the highest price and the largest market capitalization in the Vietnamese securities sector.

Finance - Tue, October 21, 2025 | 10:27 pm GMT+7

Indonesia’s palm oil industry becomes investment magnet

Indonesia’s palm oil industry becomes investment magnet

Indonesia’s palm oil sector attracted IDR52.7 trillion, or approximately $3.2 billion, in investment during the first nine months of this year, with the money going into enabling the country to capture more value out of its top commodity, the country’s Ministry of Investment reported.

Southeast Asia - Tue, October 21, 2025 | 9:34 pm GMT+7

Indonesia reports strong job, investment growth

Indonesia reports strong job, investment growth

The Indonesian Coordinating Ministry for Economic Affairs reported strong job and investment growth during the first year of President Prabowo Subianto’s administration, compared with the first year under his predecessor.

Southeast Asia - Tue, October 21, 2025 | 9:29 pm GMT+7

Singapore grants conditional approval for 1GW low-carbon power import from Malaysia

Singapore grants conditional approval for 1GW low-carbon power import from Malaysia

Singapore has granted conditional approval to import 1 GW of low-carbon electricity from the Malaysian state of Sarawak, marking a new phase in the energy partnership between the two countries.

Southeast Asia - Tue, October 21, 2025 | 9:26 pm GMT+7

Margin lending in Vietnam’s stock market hits record, but not worrisome

Margin lending in Vietnam’s stock market hits record, but not worrisome

Despite margin debt in Vietnam’s stock market surging sharply, experts believe that current margin pressure is not yet a major concern as top securities firms have significantly strengthened their capital buffers.

Finance - Tue, October 21, 2025 | 4:23 pm GMT+7

Lenders in Vietnam now in low-rate lending race: ACB exec

Lenders in Vietnam now in low-rate lending race: ACB exec

The biggest “headache” for banks in Vietnam now is that profit margins are getting thinner, said CEO of Asia Commercial Bank (ACB) Tu Tien Phat.

Banking & Finance - Tue, October 21, 2025 | 4:00 pm GMT+7

PV Gas - 35 years of innovation and technological leadership in Vietnam’s gas industry

PV Gas - 35 years of innovation and technological leadership in Vietnam’s gas industry

Over the past 35 years of establishment and development (1990-2025), PV Gas, a subsidiary of state-owned giant Petrovietnam, has affirmed its pioneering position in Vietnam’s gas industry, marked by a series of groundbreaking achievements in science and technology.

Companies - Tue, October 21, 2025 | 3:45 pm GMT+7

Vietnam's consumer finance major F88 achieves 90% of year's profit target after 9 months

Vietnam's consumer finance major F88 achieves 90% of year's profit target after 9 months

F88 Investment JSC (F88), a leading consumer finance company in Vietnam, reported a cumulative pre-tax profit of VND603 billion ($22.88 million) in the first nine months of 2025, a 2.5-fold increase year-on-year, reaching 90% of its full-year target of VND673 billion.

Companies - Tue, October 21, 2025 | 3:15 pm GMT+7

Vietnam corporate earnings to be driven by credit expansion, trading activity, property recovery

Vietnam corporate earnings to be driven by credit expansion, trading activity, property recovery

With Q3 earnings season underway, results are expected to come in broadly in line with expectations. Financials should remain the largest contributors, benefiting from credit expansion and trading activity, while real estate continues to recover as project launches and sales rates improve, writes Tung Dang, associate director at Dragon Capital.

Economy - Tue, October 21, 2025 | 2:33 pm GMT+7

Inland port opens in southern Vietnam province Tay Ninh, set to become border logistics hub

Inland port opens in southern Vietnam province Tay Ninh, set to become border logistics hub

The 16.5-hectare Tan Cang-Moc Bai inland port in Tay Ninh province, southern Vietnam has been opened, offering logistics services and handling customs clearance for imports and exports.

Infrastructure - Tue, October 21, 2025 | 12:03 pm GMT+7

State-managed property trading centers will help curb speculation, price manipulation: expert

State-managed property trading centers will help curb speculation, price manipulation: expert

Establishment of state-managed real estate trading centers is expected to create a transparent transaction channel, helping control and limit speculation and price manipulation in the Vietnamese market.

Real Estate - Tue, October 21, 2025 | 8:37 am GMT+7

Vietnam's benchmark VN-Index records sharpest drop in 25-year history

Vietnam's benchmark VN-Index records sharpest drop in 25-year history

VN-Index, which represents the Ho Chi Minh Stock Exchange (HoSE), saw the sharpest decline in its 25-year history on Monday, down by 94.76 points, or 5.47%, to 1,636.43.

Finance - Mon, October 20, 2025 | 5:49 pm GMT+7

Construction contractor Coteccons sets record FY2026 targets, capital base hike via share issue

Construction contractor Coteccons sets record FY2026 targets, capital base hike via share issue

Coteccons Construction JSC (HoSE: CTD), one of Vietnam’s largest construction contractors, has set ambitious targets for its fiscal year 2026, driven by a record order backlog and its push into international markets.

Companies - Mon, October 20, 2025 | 4:50 pm GMT+7

Real estate, gold markets to be fully established by 2026: Prime Minister

Real estate, gold markets to be fully established by 2026: Prime Minister

Vietnam plans to complete comprehensive legal framework for its financial, real estate, and gold markets by 2026 as part of a broader effort to modernize market infrastructure and accelerate economic growth, said Prime Minister Pham Minh Chinh.

Finance - Mon, October 20, 2025 | 3:33 pm GMT+7

Vietnam breaks ground on nation’s most advanced domed stadium in Hung Yen province

Vietnam breaks ground on nation’s most advanced domed stadium in Hung Yen province

Vietnam’s Ministry of Public Security has broken ground on a 60,000-seat domed stadium in the northern province of Hung Yen, set to become the country’s most technologically advanced sports venue.

Society - Mon, October 20, 2025 | 2:48 pm GMT+7