Ascott sets record for expansion in Southeast Asia, with Vietnam welcoming a series of large-scale accommodation projects.

With a surge in signed agreements, Southeast Asia continues to be a key market.

Ascott Group, a lodging group, recorded the highest number of new signings in Southeast Asia in 2025, with Vietnam identified as a key market in its expansion strategy. According to Ascott, the company added over 7,300 rooms and apartments in 2025, a 55% increase year-on-year. This represents the highest growth rate ever in the region and places the company among the top three operators with the highest number of new signings in Southeast Asia.

Currently, the system has over 200 operational properties and approximately 150 projects in development. More than 25 properties are expected to become operational in the next 12 months, reflecting continued demand from investors and the market. An Ascott representative stated that this growth stems from the recovery of regional tourism, particularly the increased demand for intra-ASEAN travel, along with the trend towards flexible accommodation models that combine leisure and work.

Besides expanding its scale, the business is also experimenting with approaches to enhance the guest experience. Recently, the "The Famous CFC" fan meet-and-greet event took place in Hanoi on April 17-18, attracting over 300 participants and featuring former football legend Jimmy Floyd Hasselbaink.

The series of activities was held at various accommodations such as Ascott Tay Ho, Oakwood Residence Hanoi, and Somerset West Point Hanoi, including networking events, community activities, and the "Night with the Blues" event. The hotel spaces were transformed into football-themed experience zones, recreating the atmosphere of a stadium, showcasing a trend towards combining accommodation and entertainment to increase interaction with guests.

Vietnam in its expansion strategy

In its development strategy for the coming period, Vietnam is considered one of the key markets, along with Indonesia, Thailand, and the Philippines. The project portfolio in Vietnam focuses on both urban and resort segments. Some notable projects include a large-scale hotel in the West Lake area (Hanoi), a coastal resort in Sam Son (Thanh Hoa), and a resort complex in Cam Ranh (Khanh Hoa).

In addition, projects in Phu Quoc and Nha Trang are also included in the expansion plan until 2028, showing a strong shift towards coastal resort destinations.

Besides established markets, the company plans to expand into approximately 20 new cities in Southeast Asia, including Phu Quoc and Nha Trang (Vietnam), Phuket (Thailand), Labuan Bajo (Indonesia), and Davao (Philippines). Around 30% of the projects in the portfolio are developed through the conversion of existing hotels, shortening implementation time and leveraging readily available market supply.

The trend of diversifying accommodation options.

Current development strategies no longer focus on a single type of accommodation, but expand to multiple models such as serviced apartments, hotels, resorts, and community living spaces. According to experts, this trend reflects a shift in tourism behavior, as the demand for accommodation is no longer limited to short stays but extends to long-term experiences, combining work and leisure.

The recovery of regional tourism is considered one of the main factors driving the expansion wave. With a large population, a growing middle class, and an increasingly sophisticated network of connections, Southeast Asia continues to be a key market for the hospitality industry. In this context, Vietnam is seen as one of the outstanding destinations thanks to its rapid tourism development, diverse supply, and ability to attract both domestic and international tourists.

Text: Nhat Minh; Photos: Organizing Committee