The Ascott Limited (Ascott) has formed a strategic partnership with Vietnamese developer Sun Group to manage Vietnam’s largest serviced residence integrated development.
Under the agreement, Ascott will manage 1,905 units across three serviced residence brands – The Crest Collection, Ascott The Residence, and Citadines Apart’hotel – within Sun Group’s Tay Ho View Complex in Hanoi, an integrated development in the city’s exclusive waterfront Tay Ho district.
Currently only available in France, this is the first time The Crest Collection will debut in Asia. In addition to Ascott’s trio of serviced residences, which are expected to open in phases from 1Q2023, the integrated development also comprises commercial and retail elements.
Ascott The Residence will offer 1,167 units comprising suites, studio, one- to four-bedroom apartments and duplex units, while Citadines Apart’hotel will offer 710 units comprising studio, one- to four-bedroom apartments and duplex units. The Crest Collection will offer 28 exclusive units, comprising three- and four-bedroom duplex apartments.
Facilities at the three properties will include residents’ lounges, a reading room, gyms, Michelin-starred restaurants, a club as well as a sky bar.
With the addition of the three serviced residences, Ascott’s portfolio in Vietnam comprises about 9,200 lodging units in over 30 properties across 12 cities.