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(13 Oct 2021)
Ascott has formed a strategic partnership with Sun
Group, one of the biggest real estate developers in Vietnam, to
manage the countrys largest serviced residence integrated
development.
Ascott will manage 1,905 units across three
distinct serviced residence brands within Sun Groups Tay Ho View
Complex in Hanoi.
Ascott will introduce its The Crest Collection brand in Vietnam.
Currently only available in France, this is the first time The
Crest Collection will debut in Asia. Ascott will also introduce its signature Ascott The
Residence and Citadines Aparthotel brands.
The
three serviced residences are expected to open in phases from Q1
2023.
Ms Nguyen Vu Quynh Anh, CEO, Sun Hospitality Group
(SHG), said, As a
pioneer in Asia Pacifics serviced residence industry, Ascotts
international reputation and network are an excellent fit for our
world-class project. With Sun Group and SHGs experience in many
of Vietnams world-class projects such as InterContinental Sun
Peninsula Resort, JW Marriott Phu Quoc Emerald Bay, Hotel de la
Coupole - MGallery (Sa Pa), etc. as well as Ascotts award-winning
hospitality experience, we are confident that Tay Ho View Complex
will be the countrys latest architectural landmark to capture
everyones attention. Tay Ho View Complex is set to redefine
hospitality standards in the city. Furthermore, the project will
also fuel the continued growth of Hanois economy, drawing
business and leisure travellers to the city while also providing
meaningful employment opportunities for the community.
The Tay Ho View Complex development will transform the citys skyline and
rejuvenate the citys exclusive waterfront Tay Ho district. In addition to Ascotts trio of serviced residences, the
integrated development also comprises commercial and retail
elements.
Tay Ho View Complex will be surrounded by many
embassies, businesses, restaurants and retail options. It will
also be next to an upcoming Opera House. Hanois central business districts in Hoan Kiem, My Dinh
and Ba Dinh, as well as the Noi Bai International Airport are all
within a 20-minute drive away.
Ascott The Residence will offer 1,167 units
comprising suites, studio, one to four-bedroom apartments and
duplex units, while Citadines Aparthotel will offer 710 units
comprising studio, one to four-bedroom apartments and duplex
units. The Crest Collection will offer 28 exclusive units,
comprising three and four-bedroom duplex apartments.
Facilities at the three properties include
residents lounges, a reading room, and gymnasiums. Residents will
also have access to high-end restaurants, a club, and a sky bar
perched atop the integrated development.
Mr Kevin Goh, CLIs Chief Executive Officer
for Lodging, said, Ascotts strategic partnership with Sun Group to manage
the biggest serviced residence development in Vietnam with three
of our brands, demonstrates their confidence in Ascotts global
expertise and brand reputation. The project will be a flagship
showcase of Ascotts 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.
Ascott made its first foray into Vietnam 27 years
ago with the opening of Somerset West Lake Hanoi. Today, Ascott is
the largest international lodging owner-operator in the country.
With the addition of the three serviced residences, Ascotts
portfolio in Vietnam comprises about 9,200 lodging units in
over 30 properties across 12 cities such as Binh Duong, Cam Ranh,
Danang, Hai Phong, Halong, Hanoi, Ho Chi Minh (Saigon), Hoi An, Lao Cai, Nha Trang, Sa Pa and Vung Tau.
In June 2021, Ascotts private
fund, Ascott Serviced Residence Global Fund, acquired the 364-unit
Somerset Metropolitan West Hanoi which is slated to open in 2024.
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