The Ascott Limited, a wholly-owned lodging business unit of CapitaLand Investment (CLI), has entered into a strategic agreement with Sun Group for the management of Oakwood Ha Long, formerly known as Premier Village Ha Long Bay Resort. This collaboration introduces the globally renowned Oakwood brand, presented in more than 15 countries worldwide to Ha Long City, marking a significant milestone in upscale international hospitality for the region.
Representatives from The Ascott Limited and Sun Group officially sealing the Management Agreement.
“As long-term partners, we are most privileged to have the opportunity to work with Sun Group once again, on the management of yet another fantastic property in Vietnam,” said Ms. Serena Lim, Chief Growth Officer at The Ascott Limited. “This signing marks a second partnership we have inked and elevates our managed portfolio with the addition of 86 luxury villas to our Oakwood collection with the soon-to-be rebranded landmark – Oakwood Ha Long. The Oakwood brand has been established in the local market since 2016, and with evolved guest preferences, the brand is slated to be refreshed later this month to align with the rekindled appetite for travel. Taking the Oakwood brand across a growing width of asset classes, the new Oakwood Ha Long will be the first property under the brand to feature an all-villa inventory.”
Oakwood, known for its core value of “Home + Beyond,” captures the essence of comfort and convenience, offering a warm retreat after a bustling day. In alignment with this commitment to comfort, Oakwood Ha Long pledges to deliver a better home experience, ensuring guest satisfaction through world-class service and the dependability of its dedicated staff.
“At The Ascott Limited, we prioritize the expectations of our owners and value a common vision that we can partner for success,” she went on. “Sun Group has long been known for their visionary spirit and their passion for pioneering unrivaled developments in new spaces. As we solidify our relationship with Sun Group through an expanded portfolio of managed properties, we are excited to bring this collective vision to life and are confident that with our established operational expertise supported by an extended network of cluster resources and tailored perspectives, we will be able to deliver a successful brand concept that our guests will enjoy.”
At the signing ceremony between Ascott and Sun Group, Mr. David Cumming, Regional General Manager of Vietnam, Cambodia & Myanmar, expressed his enthusiasm: “We are delighted to have the opportunity to manage our first project under the Oakwood brand in Ha Long, Vietnam. Vietnam has been a growing market for us, and Ascott has successfully expanded our portfolio with esteemed partners such as Sun Group. We have confidence in our management and operational capabilities, along with the solid expertise of our staff, to lead the new venture to success.”
Oakwood Ha Long is ideally situated at the heart of Ha Long City, a mere 100 meters away from Bai Chay beach, presenting the central location for a diverse and immersive experience. The resort is also within reach to recreational attractions like the vibrant Sun World Complex, bustling Ha Long Night Market, and the cultural richness of Quang Ninh Museum, coupled with its convenient access to the UNESCO World Heritage site, Ha Long Bay, ensures guests can indulge in the local vibrancy while relishing the tranquility of this extraordinary resort.
This strategic venture not only reinforces Ascott’s foothold in the industry but also underscores its dedication to delivering exceptional accommodations. Oakwood Ha Long serves as a testament to Ascott’s pioneering role as one of the top-tier lodging owner, with a remarkable portfolio that includes nearly 9,000 rooms across 34 serviced apartments and hotels in key gateway provinces and cities, including Lao Cai, Hanoi, Hai Phong, Ha Long, Hoi An, Da Nang, Nha Trang, Cam Ranh, Vung Tau, Ho Chi Minh City and Binh Duong.
About The Ascott Limited
Since pioneering Asia Pacific’s first international class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a trusted hospitality company with more than 940 properties globally. Headquartered in Singapore, Ascott’s presence extends across more than 220 cities in over 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA.
Ascott’s diversified accommodation offerings span serviced residences, coliving properties, hotels and independent senior living apartments, as well as student accommodation and rental housing. Its award-winning hospitality brands include Ascott, Citadines, lyf, Oakwood, Quest, Somerset, The Crest Collection, The Unlimited Collection, Preference, Fox, Harris, POP!, Vertu and Yello; and it has a brand partnership with Domitys. Through Ascott Star Rewards (ASR), Ascott’s loyalty programme, members enjoy exclusive privileges and offers at participating properties.
A wholly owned business unit of CapitaLand Investment Limited, Ascott is a leading vertically integrated lodging operator. Harnessing its extensive network of third-party owners and in-market expertise, Ascott grows fee-related earnings through its hospitality management and investment management capabilities. Ascott also expands its funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.
For more information on Ascott’s industry record of close to 40 years and its sustainability programme, please visit www.discoverasr.com/the-ascott-limited.
About CapitaLand Investment Limited (www.capitalandinvest.com)
Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real estate investment manager (REIM) with a strong Asia foothold. As at 30 September 2023, CLI had S$133 billion of real estate assets under management, and S$90 billion of real estate funds under management (FUM) held via six listed real estate investment trusts and business trusts, and more than 30 private vehicles across Asia Pacific, Europe and USA. Its diversified real estate asset classes cover retail, office, lodging, business parks, industrial, logistics and data centres.
CLI aims to scale its FUM and fee-related earnings through fund management, lodging management and its full stack of operating capabilities, and maintain effective capital management. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand’s development arm.
As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for scope 1 and 2 by 2050. CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.
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Issued by: The Ascott Limited
Website: www.discoverasr.com/the-ascott-limited.
49 Hai Ba Trung Street, Hanoi, Vietnam
