Spanish-born hospitality company Palladium has revealed that its decision to enter the Vietnamese market is a consequence of the country’s strong tourism fundamentals, including its burgeoning luxury hospitality sector and its strategic position within Southeast Asia.
A regional office in Ho Chi Minh City will oversee business development, operations and stakeholder engagement throughout Vietnam and support future expansion opportunities throughout the region.
“Choosing where to begin in Asia was a deliberate decision, and Vietnam was clear. Its growth is remarkable, but what convinced us is the shift in what the market values: distinctiveness and experience over scale alone. That is where our strengths lie,” said Jesús Sobrino, CEO of Palladium Hotel Group.
“We enter Vietnam with a long-term commitment, a distinctive portfolio, and every intention to grow alongside partners who share our ambition.”
Palladium has inked agreements for two hotels in Vietnam. The group’s first project involves the redevelopment of the L’Alya Ninh Van Bay as Bless L’Ayla Ninh Van Bay.
The all-villa resort north of Nha Trang city is located amid jungle with private white sand beaches. It is due to open in 2027.
As part of the rebrand, an additional 54 villas will be added to the five-star property. Palladium acquired the hotel in July 2026 and will operate on a white label basis until the renovation is completed next year.
The hotel group has also acquired the Hòa Bình Hotel and will transform the one-time Hanoitourist asset into Bless Hotel Hanoi, opening in 2028.
The century-old hotel will undergo a comprehensive renovation that will balance preservation of the building’s historic appeal with a contemporary, Vietnamese design, elevating the property from a three-star to a five-star foundation.
Building on its footprint in Europe and the Americas, Palladium aims to develop a portfolio of luxury and lifestyle brands including Bless Collection Hotels, The Unexpected Hotels, Only You Hotels, TRS Hotels and Grand Palladium Hotels & Resorts across Southeast Asia through strategic partnerships with owners, developers and institutional stakeholders.