Vietnam’s Sun Group signed a major deal with Marriott International in New York this month.
Sun Group and Marriott International are studying the development of a major multi-brand hotel cluster in Phu Quoc, with the initial phase planned to comprise more than 7,000 rooms across 17 hotel towers.
The two companies exchanged a strategic cooperation document in New York on 23 September, outlining plans to explore a broader portfolio of hotels and resorts in Phu Quoc, Da Nang and other Vietnamese destinations.
The most significant project for the MICE sector is the planned hotel complex at the Ruby Beach Mixed-use Urban Area in Phu Quoc. The development is expected to bring together four Marriott International brands – JW Marriott Marquis, W Hotels, Le Méridien and The Luxury Collection.
The initial phase is planned with more than 7,000 rooms, while subsequent phases could eventually bring the complex's total inventory to nearly 20,000 rooms.
The cooperation framework allows for different models, including hotel management, franchising and branded residences, with individual projects subject to separate agreements.
Building a MICE cluster
The hotel plans come as Phu Quoc undergoes a wider infrastructure build-up ahead of APEC 2027, including the expansion of Phu Quoc International Airport, an APEC Convention Center, APEC Boulevard and a planned light rail transit system.
The projects are intended to connect the island's international gateway, convention facilities, urban transport and new hotel developments.
For the MICE sector, the combination of convention infrastructure and concentrated hotel inventory could give Phu Quoc greater capacity to accommodate large international events while offering multiple accommodation brands within the same destination.
Sun Group is also developing Sun PhuQuoc Airways, which is planned around a hub-and-spoke network centred on Phu Quoc. The airline took delivery of its first Airbus A330 on 22 September, with further wide-body aircraft planned.
The carrier has also agreed to purchase 40 Boeing 787-9 aircraft in a deal valued at approximately US$22.5 billion.
Marriott expands Vietnam footprint
The proposed Phu Quoc cluster would add to Marriott's growing presence in Vietnam. The group currently operates 32 hotels and resorts across 11 brands in 10 cities and provinces in the country, with more than 71 properties in its development pipeline.
Beyond Phu Quoc, the two companies will assess further hotel and resort opportunities in Da Nang and other destinations, with projects to be evaluated and negotiated individually.
For Phu Quoc, the immediate priority is meeting the accommodation and connectivity requirements associated with APEC 2027, while the longer-term development points to a larger ambition to build the island's capacity for luxury tourism and international business events.