MARRIOTT INTERNATIONAL SIGNS LANDMARK AGREEMENT WITH VINPEARL TO ADD EIGHT HOTELS IN VIETNAM

Agreement is set to further strengthen Marriott International's presence in Vietnam with the expected addition of more than 2,000 rooms to its existing portfolio

HO CHI MINH CITY, Vietnam, June 22, 2022 /PRNewswire/ -- Marriott International, Inc. today announced a strategic agreement with Vinpearl, Vietnam's largest hospitality and leisure chain, to convert and develop close to 2,200 rooms across eight hotels in Vietnam - significantly expanding its portfolio of world-class hotels and resorts in the country. This collaboration expects to see the debut of the Autograph Collection Hotels brand in the country, while other planned openings span the following brands: Marriott Hotels, Sheraton Hotels & Resorts, and Four Points by Sheraton.

MARRIOTT INTERNATIONAL SIGNS LANDMARK AGREEMENT WITH VINPEARL TO ADD EIGHT HOTELS IN VIETNAM

“The Vinpearl Landmark 81, Autograph Collection is expected to debut as Vietnam’s first Autograph Collection hotel. The hotel is in a 461-meter tower on the banks of the Saigon River”

"We are thrilled to be working with Vinpearl to accelerate our growth in Vietnam," said Rajeev Menon, President, Asia Pacific (excluding Greater China), Marriott International. "With the country's solid foundation for a resilient economy, and continuous growth of its infrastructure especially in the tourism sector, we are confident this collaboration will enable us to better cater to our guests' needs." 

Of the eight hotels, six are conversions that are expected to be part of Marriott's system later this year:

Vinpearl Landmark 81, Autograph Collection is expected to serve as Vietnam's first Autograph Collection hotel. The lifestyle hotel will join a diverse and dynamic collection of over 260 independent hotels around the globe hand-selected for their inherent craft and distinct perspective on design and hospitality. Currently known as Vinpearl Luxury Landmark 81, the hotel is set high up in a gleaming 461-meter tower on the banks of the Saigon River and is anticipated to feature 223 rooms and suites, three food and beverage outlets, 12 function spaces, a business center, spa, outdoor pool, and fitness center.

Danang Marriott Resort & Spa is expected to fly the Marriott Hotels brand flag following the rebranding of Vinpearl Luxury Danang. Nestled on Non Nuoc Beach, close to downtown Danang, the retreat is anticipated to feature 200 rooms and suites, 39 villas with a modern, residential design, and locally-inspired accents, catering to providing guests with enriching experiences alongside its signature spaces and heartfelt service. Design plans call for five different food and beverage outlets, eight event spaces, an infinity pool, a spa, kids club, tennis court and a wealth of water sports, including a dive center.

Sheraton Phu Quoc Long Beach Resort is situated on the west coast of Phu Quoc, Vietnam's largest island, and is a rapidly emerging tourism hotspot. Rebranded from the existing Vinpearl Phu Quoc Resort, the resort is anticipated to feature 500 modern and residential rooms, suites, and villas, three food and beverage outlets, extensive conference space, three pools, a spa, and a kids club. 

Sheraton Hai Phong, currently known as Vinpearl Hotel Imperial, Hai Phong, is expected to become one of the city's top choices for business and leisure travelers and a hub for conferences and events in the center of Vietnam's largest port city. The property is anticipated to feature 362 modern, residential rooms and suites, four food and beverage outlets, a ballroom and four function spaces, a pool, spa and fitness center. 

Sheraton Can Tho expects to be a landmark property in the thriving Mekong Delta city. Currently operating as the Vinpearl Hotel Can Tho, the 262-key hotel is set on the banks of the Can Tho River, surrounded by multiple attractions. Guests can unwind at the restaurant, lobby lounge, terrace café and outdoor swimming pool with pool bar. There is also extensive event space, including a grand ballroom.

Four Points by Sheraton Lang Son is a 21-story hotel in the heart of the charming northern city of Lang Son, offering panoramic views of the surrounding forests and mountains. Currently known as the Vinpearl Hotel Lang Son, it is expected to become the first internationally branded hotel in the city. The hotel is anticipated to feature 127 rooms and suites, four food and beverage venues, a spa and a ballroom, all catering to the needs of today's everyday traveler through its vintage modern design, stylish comfort, authentic sense of the local, and genuine service.  

Two new build hotels are expected to open in 2025 – the Sheraton Vinh and Four Points by Sheraton Ha Giang. Both are located in unique locations promising to attract not only domestic but also international travelers.  

Marriott International currently operates 10 hotels and resorts in Vietnam. The company recently announced its plans to more than quadruple its portfolio in Vietnam with a signed pipeline of 30 hotels. Today's announcement brings the company's pipeline in Vietnam close to 40 hotels.

As a leading tourism - resort - entertainment brand in Vietnam, Vinpearl currently operates 35 hotels and resorts spanning 17 cities and provinces, with a total of more than 18,500 hotel rooms and villas. The cooperation with Marriott International is part of Vinpearl's strategy to advance and internationalize the brand in the hospitality field. This perfect combination expects to elevate domestic and foreign tourists' diverse experiences through Vinpearl's signature local 'all-in-one' complexes and world-class standard services by an international prestigious hotel company.

Note on forward-looking statements:

This press release contains "forward-looking statements" within the meaning of United States federal securities laws, including statements related to expected unit and rooms growth; our growth pipeline; expected hotel and other project development, conversions and openings; and brand debuts in certain markets; and similar statements concerning anticipated future events and expectations that are not historical facts. We caution you that these statements are not guarantees of future performance and are subject to numerous evolving risks and uncertainties that we may not be able to accurately predict or assess, including the risk factors that we identify in our U.S. Securities and Exchange Commission filings, including our most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q. Any of these factors could cause actual results to differ materially from the expectations we express or imply in this press release. We make these forward-looking statements as of the date of this press release and undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

About Marriott International, Inc.

Marriott International, Inc. (NASDAQ: MAR) is based in Bethesda, Maryland, USA, and encompasses a portfolio of more than 8,000 properties under 30 leading brands spanning 139 countries and territories. Marriott operates and franchises hotels and licenses vacation ownership resorts all around the world. The company offers Marriott Bonvoy®, its highly-awarded travel program. For more information, please visit our website at www.marriott.com, and for the latest company news, visit www.marriottnewscenter.com. In addition, connect with us on Facebook and @MarriottIntl on Twitter and Instagram.

About Vinpearl

Vinpearl is a subsidiary of Vingroup, established in 2001. Currently, Vinpearl is operating 45 properties including: 35 hotels and resorts with over 18,500 rooms; 3 theme parks and 2 entertainment complexes, 2 semi-wildlife conservation parks, 4 golf courses, spas, 5-star conference centers and F&B outlets... located at the most famous tourist attractions across 17 provinces of Vietnam. Among that, the 3 complexes in Phu Quoc, Nha Trang, Da Nang - South Hoi An are the biggest in South East Asia, following the model of "one destination for all needs - one stop destination". They offer fulfilled holidays right at the complexes' premises with a series of diverse trendy experiences, suitable for all ages. In the near future, Vinpearl will continue to expand the top-class tourist complexes in North Vietnam, such as Hai Phong, Quang Ninh… For more information, please visit our website at www.vinpearl.com.


Source: Marriott International Related Stocks: NASDAQ:MAR
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