Marriott International wants to quadruple its portfolio in Vietnam

The branded real estate project Grand Marina, Saigon in District 1, Ho Chi Minh City plays an important role in the expansion strategy of the world's leading hotel group.

The central tower of the Grand Marina project, Saigon with a panoramic view

Perspective of Grand Marina, Saigon – Marriott International's first luxury real estate project in Vietnam

Marriott International has just announced a plan to expand its portfolio in Vietnam – right in time to reopen to international tourism. Accordingly, the group plans to add nearly 9,000 luxury hotel rooms and apartments in the next four years, with the entry of key brands of the group such as The Ritz-Carlton, Marriott, Westin or Courtyard.

Mr. Rajeev Menon - President of Marriott International Group Asia Pacific (excluding China) shared the vision of this plan.

“Vietnam is an area with impressive economic growth before Covid-19, thanks to the promotion of many development policies and the promotion of infrastructure investment. The development process of Marriott International in Vietnam reflects the trust of strategic partners. We look forward to continuing to bring opportunities to our partners through our comprehensive portfolio of 30 premium brands and an extensive distribution network,” he said.

Marriott International is currently leading the luxury real estate segment, with nearly 190 projects opened for sale or under construction globally. According to information from Marriott International, Asia - Pacific (excluding China) is one of the fastest growing luxury real estate regions in the world, thanks to a significant contribution from the Vietnamese market, where the group plans to complete some of its branded projects within the next 4 years.

Grand Marina Saigon Nice perspective

Perspective of the complex of standardized products Marriott - Grand Marina, Saigon at the central core of District 1, Ho Chi Minh City along the banks of the Saigon River

In early 2021, the group introduced a key branded real estate project marking the entry point into the Vietnamese market - Grand Marina, Saigon with a scale of nearly 4,200 luxury apartments. This is considered the world's largest luxury real estate project (according to Graham Associates).

Grand Marina, Saigon Developed by Masterise Homes - a real estate developer, a strategic partner of Marriott International. The project is located in the central core of District 1, Ho Chi Minh City, along the banks of the Saigon River. Since its launch, Grand Marina, Saigon has resonated and attracted the attention of customers through a series of successful domestic and international sales events. The project establishes the luxury real estate segment in the Vietnamese market, introducing the concept of a luxury lifestyle to the public for the first time. Grand Marina, Saigon is expected to be completed by the end of 2024 and is starting to hand over from the first quarter of 2023.

Grand Marina Saigon - Progress on 10_5_2022

Lake Tower - the first Marriott branded apartment building of Grand Marina, Saigon was built and is expected to be delivered in the first quarter of 2023.

Assessing the future of luxury real estate in general and the potential of new products in the portfolio in particular, Mr. Jakob Helgen, Vice President of Marriott International Group for Thailand, Vietnam, Cambodia and Myanmar said. Vietnam is one of the most vibrant destinations, having set many records in terms of tourist arrivals over the years, as international tourists increase and domestic tourists tend to explore the sights of their homeland. .

“With the reopening of tourism, we hope Vietnam will recover quickly and look forward to continuing to expand our portfolio to more locations in this fascinating country,” said Mr. Jakob Helgen. speak.

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