Marriott adds 7 Vinpearl hotels, resorts to Vietnam portfolio
Marriott International Inc. on Wednesday signed management agreements with Vinpearl, Vietnam’s largest hospitality and leisure chain, for an additional seven hotels and resorts, comprising more than 2,500 rooms.
The seven hotels add to the eight hotels the duo announced in 2022 when Marriott first entered into agreements with Vinpearl, part of Vietnam’s largest conglomerate Vingroup. With Wednesday’s deals, Vinpearl is expected to be the largest owner of Marriott brands in Vietnam with 15 hotels and resorts.
“With new locations earmarked in important tourism hubs such as Danang and Nha Trang, our anticipated inaugural resort in the popular cultural town of Hoi An, and the anticipated first internationally branded five-star hotel in Bac Ninh, we are well-positioned to meet Vietnam’s diverse hospitality needs in primary, secondary and tertiary destinations,” Rajeev Menon, Marriott International’s president, Asia Pacific (excluding China).
Among the seven newly-signed hotels and resorts, three are conversions that are expected to join the Marriott system later this year. They are Nha Trang Marriott Resort & Spa on Hon Tre Island in Khanh Hoa province; Renaissance Hoi An Resort & Spa in Quang Nam province; Danang Marriott Resort & Spa in Danang City bordering Quang Nam.
Nha Trang Marriott Resort & Spa in Khanh Hoa province, central Vietnam. Photo courtesy of Marriott.
The four new builds comprising more than 1,200 rooms are expected to open by 2028, including the Bac Ninh Marriott Hotel. Expected to open in 2026, the hotel is slated to be Marriott International’s debut in the northern province of Bac Ninh, close to Hanoi.
Marriott International currently operates 16 hotels and resorts in Vietnam, with a strong development pipeline. In the coming years, debuts of several exciting brands are expected in the country, such as The Ritz-Carlton, Westin Hotels & Resorts, Element by Westin, and Courtyard by Marriott.
- Related News
- Read More
Japan retailer Aeon begins building $164 mln mall in central Vietnam
Aeon Mall Vietnam, under Japanese retail giant Aeon Mall, kicked off the construction of its VND4,157 ($163.8 million) Aeon Mall Thanh Hoa in the central province of Thanh Hoa on Monday.
Industries - Tue, December 10, 2024 | 10:25 am GMT+7
Japanese firms ask for immigration procedures to be eased, VAT invoice issuance quickened
Japanese companies urged for immigration procedures to be eased, issuance of VAT invoices expedited, and traffic congestions addressed in a dialogue with Ho Chi MInh City leaders on Monday.
Economy - Tue, December 10, 2024 | 9:45 am GMT+7
New legislative changes to foster growth across various sectors: lawyer
The National Assembly, Vietnam's legislature, in late November 2024 passed 18 new and amendment laws, along with 21 resolutions. Anh Dang, a senior partner at Vilaf law firm, offers an insight into key aspects of several new laws that will come into force in 2025 and their potential impact on business activities.
Consulting - Tue, December 10, 2024 | 8:15 am GMT+7
Indonesia’s GDP to reduce by $1.3 bln due to VAT hike
The planned increase in Indonesia’s value-added tax (VAT) rate from 11% to 12% could reduce the country's GDP by IDR 21 trillion ($1.3 billion), economists warned.
Southeast Asia - Mon, December 9, 2024 | 11:12 pm GMT+7
Southeast Asia poised to become global AI hub
In the first half of 2024, Southeast Asia attracted over $30 billion in artificial intelligence (AI) infrastructure investments, according to the 2024 e-Conomy SEA Report from Google, Temasek, and Bain & Company.
Southeast Asia - Mon, December 9, 2024 | 11:00 pm GMT+7
Vietnam deposit interest rates remain low, only 1 ppt higher than inflation: expert
Current deposit rates offered by Vietnamese banks, despite several hikes, are still low, just 1 percentage point higher than inflation - a gap similar to that in developed countries.
Banking - Mon, December 9, 2024 | 10:30 pm GMT+7
Role of sustainable supply chains – building a resilient future
Sustainability is a rapidly growing priority that has become central to how corporates in Asia are planning to govern their supply chains and respond to customer expectations, writes Surajit Rakshit, country head of global trade solutions at HSBC Vietnam.
Consulting - Mon, December 9, 2024 | 9:28 pm GMT+7
Minh Ngoc Steel: A 'quiet' major player in hydroelectric sector
Minh Ngoc Producing and Trading Co., Ltd. (Minh Ngoc Steel), founded by entrepreneur Dong Tuan Vu, has quietly made its mark on the hydroelectric sector, in addition to establishing itself as a key player in the steel industry.
Companies - Mon, December 9, 2024 | 5:14 pm GMT+7
Greenwell Energy Canada seeks to supply LNG for Vietnam
Greenwell Energy (Canada), under the United States-based Greenwell Energy, plans to build an LNG terminal in Vietnam’s central province of Thanh Hoa to supply LNG in the country.
Energy - Mon, December 9, 2024 | 4:21 pm GMT+7
Amkor Technology’s $1.6 bln project in Vietnam needs 2,800 workers
The $1.6 billion project of U.S.-headquartered semiconductor giant Amkor Technology in Vietnam is set to have a labor demand of 2,800 during stable operations, according to a recent project report.
Companies - Mon, December 9, 2024 | 3:30 pm GMT+7
Revenues of LG Electronics’ Vietnam factories up 24% to $6 bln in Jan-Sept
LG Electronics’ factories in Vietnam, LG Innotek Vietnam Hai Phong and LG Electronics Vietnam Hai Phong, recorded a total revenue of KRW8,532 billion ($6.02 billion) in the first nine months of 2024, up 24% year-on-year.
Companies - Mon, December 9, 2024 | 10:55 am GMT+7
Leading Vietnamese insurer Bao Minh lowers profit, dividend targets due to typhoon
Vietnam’s Bao Minh Insurance Corporation has revised its profit and dividend targets for 2024 following the increased compensation costs stemming from super typhoon Yagi, which severely impacted the northern region.
Finance - Mon, December 9, 2024 | 10:29 am GMT+7
Foreign capital flow key indicator for Vietnam stock market: expert
Foreign net buying/selling in the coming period will be a crucial indicator for Vietnam’s benchmark VN-Index, as foreign investors play a significant role in shaping market sentiment, according to Yuanta Vietnam Securities JSC's chief analyst.
Finance - Mon, December 9, 2024 | 9:38 am GMT+7
Vietnam's rice exports reach a record high
Vietnam’s rice exports achieved a record-breaking $5.3 billion revenue in the first 11 months of the year, up 22.4% year-on-year and 10.8% against the whole 2023.
Economy - Mon, December 9, 2024 | 8:00 am GMT+7
Southernmost Ca Mau province moves to better tap eco-tourism strengths
The Ca Mau World Biosphere Reserve, which includes the Ca Mau National Park, the U Minh Ha National Park, and the coastal protective forests, not only offers substantial economic benefits but also provides a clean environment that can provide many attractive ecological tourism experiences for visitors.
Travel - Sun, December 8, 2024 | 8:16 pm GMT+7
Vietnamese firms face numerous barriers in green transformation
Enterprises require significant capital to invest in machinery and production processes to embrace green transformation, says Nguyen Quoc Anh, chairman of the Ho Chi Minh City Rubber-Plastic Association.
Companies - Sun, December 8, 2024 | 8:06 pm GMT+7
