What's Happening?
The Ascott Limited, a lodging business unit of CapitaLand Investment, has secured a management contract for Citadines Riverside Can Tho, marking the debut of the Citadines brand in Vietnam's Mekong Delta region. This partnership with Huu Toan Corporation, a Vietnamese energy solutions provider, represents Ascott's first collaboration with the company and Huu Toan's entry into the hospitality sector. The project aims to capitalize on the region's growing tourism and business travel markets, with the property scheduled to open in 2028. Citadines Riverside Can Tho will feature 244 contemporary units in a prime riverside location, offering access to cultural landmarks and business hubs.
Why It's Important?
The development of Citadines Riverside Can Tho is significant as it strengthens Ascott's presence in Vietnam, expanding its portfolio to 38 properties. The project is strategically positioned to benefit from Can Tho's economic diversification, which includes growth in agriculture, logistics, trade, and renewable energy sectors. This expansion is expected to fuel a tourism renaissance, attracting millions of visitors annually. The partnership aims to deliver world-class hospitality standards, blending comfort and lifestyle-focused service, while honoring the Mekong Delta's heritage. This move aligns with the evolving hospitality landscape in Can Tho, where business and leisure travel increasingly converge.
What's Next?
The Citadines brand continues to expand beyond traditional urban centers into resort and leisure destinations, demonstrating adaptability to Vietnam's diverse tourism markets. As the brand grows, it aims to offer cosmopolitan guests the freedom to live, work, and explore while maintaining consistent quality standards. The upcoming Citadines Selavia Phu Quoc beachfront resort, set to open in 2027, is part of this expansion strategy. The partnership with Huu Toan Corporation is expected to create an authentic riverside experience, setting new benchmarks for serviced residences in the region.
