Marriott International and Masterise Group have signed an agreement to develop four new hotels and one branded residence in Vietnam, adding approximately 1,925 keys to Marriott's portfolio across Ho Chi Minh City, Can Gio, and Hanoi.
Counterparts (2)
Partner
Marriott International
company
Marriott International is a global hospitality company that operates, franchises, and licenses hotels, resorts, and residential properties. It focuses on providing a wide range of lodging options across numerous brands worldwide, serving both leisure and business travelers. In the context of infrastructure, Marriott acts as a developer and operator of social infrastructure (hotels) and an offtaker of energy and utilities for its extensive property portfolio.
Masterise Group
company
Masterise Group is a leading real estate developer in Vietnam, specializing in large-scale, high-end residential, commercial, and hospitality projects. Their strategy focuses on creating integrated urban communities with international standards, contributing significantly to Vietnam's urban development through comprehensive master planning and construction.
Deal Analysis
Marriott International's agreement with Masterise Group to develop four new hotels and one branded residence in Vietnam represents a significant expansion of Marriott's footprint in a key Southeast Asian market. This development deal, announced for March 2026, will add approximately 1,925 keys across strategic locations including Ho Chi Minh City, Can Gio, and Hanoi. The multi-city approach underscores a comprehensive strategy to capture demand in both established urban centers and emerging leisure destinations within Vietnam, leveraging a partnership with a local developer, Masterise Group, to execute these projects.
This transaction is notable for its scale and the strategic implications for Marriott's portfolio growth. The addition of nearly 2,000 keys through a single agreement signals Marriott's strong confidence in Vietnam's hospitality sector and its long-term growth prospects. While the deal value remains undisclosed, the commitment to multiple properties and a branded residence indicates a substantial investment in development capacity and market penetration. For Masterise Group, this partnership with a global hospitality leader like Marriott enhances its profile and brings international brand standards to its developments.
- Development of four new hotels and one branded residence.
- Adds approximately 1,925 keys to Marriott's portfolio.
- Covers key locations: Ho Chi Minh City, Can Gio, and Hanoi.
- Partnership between global hospitality leader Marriott and local developer Masterise Group.
Source Intelligence
KEY DETAILS
The agreement introduces a range of Marriott brands across Vietnam’s key urban, economic and leisure destinations, including The Ritz-Carlton, Saigon, The Ritz-Carlton Residences, Saigon, JW Marriott, Four Points by Sheraton, and Marriott Hotel. The Co Loa Marriott Hotel in Hanoi will have around 3,000m² of function space. The JW Marriott Hotel Saigon Can Gio and Four Points by Sheraton Saigon, Can Gio will form part of the 2,870-hectare Can Gio Coastal Urban Tourism Area, which is expected to attract up to nine million visitors annually. As of 3Q2025, Marriott operates 29 properties across Vietnam, with more than 30 additional hotels in the pipeline.
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Capacity
Marriott International and Masterise Group are set to develop four hotels and one branded residence in Vietnam, adding close to 1,900 keys to Marriott’s national portfolio. ... The 494-key property is designed to serve business travellers... The dual-branded development is planned to offer a combined 780 keys... The Ritz-Carlton, Saigon is planned to feature 231 hotel rooms, alongside a separate tower with 420 branded residences
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Location
Marriott International signs four-hotel agreement with Masterise Group in Vietnam... The flagship developments will be located in Ho Chi Minh City... In Can Gio, a coastal district near Ho Chi Minh City... In Hanoi, the agreement includes the city’s first Marriott Hotel. The Co Loa Marriott Hotel is under construction next to the National Exhibition & Convention Center... The Ritz-Carlton, Saigon... located in District One, the city’s central commercial area.
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Announcement
Wednesday, 4th March 2026
PARTIES MENTIONED IN SOURCE
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Marriott International
developer
"Marriott International and Masterise Group are set to develop four hotels and one branded residence in Vietnam"
M
Masterise Group
developer
"Marriott International and Masterise Group are set to develop four hotels and one branded residence in Vietnam"
high quality
Enriched Mar 4, 2026
Global Infrastructure Sherpa