IHG Hotels and Resorts, one of the world’s leading hotel companies, announced on Thursday a four-hotel, 2,709-room portfolio deal it has signed with Sun Hospitality Group, Vietnam’s top tourism-focused real estate developer.
The new multi-property agreement comprises a 616-room Holiday Inn Resort Yoko Park Onsen in the province of Quang Ninh, which is home to Halong Bay, and three properties in Ba Na Hills, the European-style theme park on a mountaintop in Danang: A 602-room Crowne Plaza Danang Ba Na Hills, an 843-room Holiday Inn Resort Danang Ba Na Hills, and a 648-room voco Danang Ba Na Hills. All four properties are slated to open in 2026.
The Onsen Holiday Inn resort in Quang Ninh, an extension of the Yoko Onsen Quang Hanh Resort, will be the first large-scale hot spring resort in Vietnam. Meanwhile, the three hotels in Danang are set to build on the success of Sun Group’s Ba Na Hills, a fairytale land of faux castles, cable cars, and cobblestone lanes that has become one of Vietnam’s top tourism attractions.
This new agreement between IHG, whose other brands include Six Senses and Regent, and Sun Group will push IHG’s standing in Vietnam’s booming hospitality industry. It currently has 14 hotels across the country, with more than half under the InterContinental brand.
Serena Lim, vice president for development at IHG Southeast Asia and Korea, said the resort projects in Danang are part of its broader plans to develop a range of family-friendly destinations across Vietnam.
“This marquee portfolio deal is aligned with our plan to grow our estate in Vietnam across all brands,” said Serena. “As we work through the recovery, we know that domestic leisure business will be a strong driver of growth in the country.”
IHG’s three new brands will complement the myriad of activities that Sun Group is adding as part of the Ba Na Hills expansion – including an amphitheater, unique gardens, and a retail podium for visitors.
Sun Hospitality Group’s CEO Nguyen Vu Quynh Anh, said this partnership with IHG will further promote the beauty of Vietnam to the world through world-class tourism destination concepts.
“This is part of our masterplan to build ecosystems that spur tourism and commercial development for the country,” said Quynh Anh.
The award-winning InterContinental Danang Sun Peninsula Resort, opened in 2012, is the flagship project between the two firms. Set in Son Tra Peninsula Nature Reserve, the five-star resort has consistently been recognized at the World Travel Awards, Conde Nast Traveler Readers’ Choice Awards, and Travel + Leisure, to name a few.
IHG also built Vietnam’s first-ever integrated resort, the InterContinental Grand Ho Tram (formerly Ho Tram Strip), and has developed a reputation as one of the country’s most popular leisure and offsite MICE locations.
Vietnam is a strong growth market for IHG and other hospitality and property development firms. The fast-growing middle class and a young population are seen to drive spending on leisure and luxury accommodations. Foreign tourists have also shown an increasing interest, propelling Vietnam’s popularity as a tourist destination. Before the pandemic, Vietnam received a record 18 million foreign visitors. The World Tourism Organization ranked Vietnam as the third fastest-growing tourist destination in 2018. It was also named Asia’s leading destination at the 2021 World Travel Awards.
After a challenging year of battling against a deadly COVID-19 wave, these new hotels and resorts are positioning themselves to take advantage of the eventual tourism recovery. The government has already set in motion a plan to restart inbound tourism, with the staged resumption of regular international commercial flights starting this month.