The Crest Collection will make its Vietnam debut with the opening of the Diamond Crown Westlake by The Crest Collection.
The Ascott Limited signed management agreements for nine properties comprising more than 3,200 units in Vietnam in the first half of 2026.
The signings build on its strongest year of signings in Southeast Asia, with more than 7,300 units signed across the region in 2025, up 55% from 2024. This placed Ascott among the top three hospitality companies in the region by new signings for the year, according to Horwath HTL.
Kevin Goh, CEO of The Ascott Limited, said Vietnam was “one of the most exciting hospitality growth stories in Asia”, with demand continuing to rise across urban and coastal destinations.
He added that the latest signings reinforce Ascott's position in the serviced residence and extended-stay segments while expanding its presence in luxury and leisure markets.
The signings expand Ascott's Vietnam portfolio by more than 30% to approximately 12,000 units across 42 operational and pipeline properties in 14 cities, with the new developments scheduled to open progressively from 2028.
The expansion spans seven brands – Ascott, The Crest Collection, Citadines, lyf, Oakwood, Somerset and Harris.
The agreements deepen Ascott's presence in Hanoi, Ho Chi Minh City, Hai Phong, Da Nang and Phu Quoc, while marking its entry into Quy Nhon. The company is also introducing The Crest Collection to Vietnam for the first time, with planned properties in Hanoi and Ho Chi Minh City.
Among the new projects is Diamond Crown Westlake by The Crest Collection, located on Hanoi's Quang An Peninsula overlooking West Lake. The property will offer one- to four-bedroom residences, suites and duplex units.
In Ho Chi Minh City, a second Crest Collection property will open in the city's central commercial district, while an Oakwood-branded development is planned for Thao Dien.
Ascott will also manage three properties within Sun Group's integrated development in Sunset Town, Phu Quoc, spanning the Ascott, lyf and Harris brands. In total, this adds around 1,400 units to the mixed-use project.
Elsewhere, Citadines Riverside Hai Phong will be developed in the city's new administrative centre in Thuy Nguyen, while Somerset Non Nuoc Da Nang Resort adds 549 units and meetings spaces to Da Nang.
The announcement Ascott diversifies its portfolio, which currently stands at 16 properties across seven cities. Its big foray into MICE is marked by the Ascott Tay Ho Hanoi. The International Convention and Wedding Centre opened this year with 13 event spaces – including the city’s largest ballroom – ahead of the hotel’s phased opening starting 2027.