Nobu enters Vietnam hospitality market via Phoenix Holdings partnership

The first Nobu Hotel, Restaurant, and Residences in Vietnam is set to open in Danang city on the central coast in 2024, Nobu Hospitality LLC said.

The new site is cultivated in partnership with Phoenix Holdings’ Viet Capital Real Estate (VCRE), according to the America-based corporation.

Phoenix Holdings was set up in 2015 by American businessman Henry Nguyen of Vietnamese origin, who also owns the McDonald's franchise in Vietnam. The Ho Chi Minh City-based group manages VCRE, Viet Capital Bank, Viet Capital Asset Management, Viet Capital Securities, listed on the Ho Chi Minh Exchange as VCI, and many other investment projects.

Phoenix Holdings chairman Nguyen is also vice chairman and founding owner of the Los Angeles Football Club in America’s Major League Soccer, and CEO of Timo Digital Bank.

Situated along Danang’s My Khe beachfront on Vo Nguyen Giap Street, Nobu is set to command the city’s skyline with an iconic 43-story tower, the tallest building in the central city, and will offer a world-class dining and entertainment destination, Nobu Hospitality said. The company did not disclose the investment needed for the project.

The hotel will also offer 200 guest rooms, including 18 luxurious suites, meeting and event spaces suited to weddings and social events, and a wellness and fitness facility. In addition, there will be 271 stylish residential units offering one-, two-, and three-bedroom configurations as well as two skyline penthouse units.

A cocktail bar and lounge will be positioned on the rooftop of the building, offering stunning sunset views and after-work entertainment in Danang.

"We are excited to further expand into the Asia Pacific region and bring Nobu to the Vietnamese market, a rapidly growing tourist destination, with one of the most beautiful and desirable locations in Danang. Our partners at VCRE are passionate supporters of the Nobu brand and share our commitment in growing Nobu Hospitality in other destinations in Vietnam,” Nobu Hospitality CEO Trevor Horwell said in a release from New York.

Coastal Danang, Vietnam’s third largest city, is flanked by the beautiful Pacific sea waters to the east and Truong Son Mountain range to the west. It is known for its sandy beaches and history as a French colonial port. The city is near several UNESCO World Heritage sites, including the Imperial Citadel of Hue, the ancient town of Hoi An, and My Son ruins.