22nd April 2023

Marriott International Signs Another Milestone Agreement With Vinpearl in Vietnam..

Signing of seven additional properties underscores a strong development pipeline and positions Vinpearl to be Marriott’s largest owner in Vietnam with 15 hotels and resorts

Marriott International, Inc. today announced that it has signed agreements with Vinpearl, Vietnam’s largest hospitality and leisure chain, for an additional seven hotels and resorts, comprising more than 2,500 rooms. These seven hotels add to the eight hotels announced in 2022, when Marriott first entered into agreements with Vinpearl. With today’s announcement, Vinpearl is expected to be Marriott’s largest owner in Vietnam with 15 hotels and resorts.

“This signing marks another milestone in our collaboration with Vinpearl, and we are delighted to strengthen our collaboration with these additional signings,” highlighted Rajeev Menon, President, Asia Pacific Excluding China for Marriott International. “With new locations earmarked in important tourism hubs such as Danang and Nha Trang, our anticipated inaugural resort in the popular cultural town of Hoi An, and the anticipated first internationally branded five-star hotel in Bac Ninh, we are well-positioned to meet Vietnam’s diverse hospitality needs in primary, secondary and tertiary destinations.”

Mr Juergen Doerr, CEO Vinpearl further shared, “We are delighted to continue working together and leveraging our strategic collaboration with Marriott across Vietnam. The pioneering values that are shared by our respective organizations fit well together, and the international power and scale of the Marriott brand provides a great platform to drive international awareness to some of our key destinations across Vietnam.”

Of the seven newly-signed hotels and resorts, three are conversions that are expected to join the Marriott system later this year:

• Nha Trang Marriott Resort & Spa, Hon Tre Island is expected to feature 829 rooms – 403 rooms and suites, plus 426 two-, three- and four-bedroom private villas, each with a private pool. Guests will be able to choose from multiple F&B outlets, including Marriott Hotels’ signature Greatroom lobby lounge, and a pool bar. Facilities include three meeting rooms, two pools, two tennis courts, a fitness center, and a spa.
• Renaissance Hoi An Resort & Spa is expected to be a vibrant, design-led resort following a strategic rebranding and anticipates marking Marriott International’s entry into Hoi An, the elegant UNESCO-listed port town. The resort is slated to feature 193 stylish rooms and suites, 25 private villas, two restaurants, two bars, an outdoor infinity pool, a spa, fitness center and two floodlit tennis courts. Plans also call for a ballroom, two meeting rooms, and an event lawn for meetings and events.
• Danang Marriott Resort & Spa, Non Nuoc Beach Villas is expected to feature a collection of spacious two-, three- and four-bedroom pool villas, all featuring extensive indoor and outdoor space for romantic breaks and family vacations. Nestled on Non Nuoc Beach near downtown Danang, the resort is also expected to feature three F&B outlets, a pool, fitness center, Quan Spa, kids’ club, two tennis courts, and a water sports center.

Four new builds comprising more than 1,200 rooms are expected to open by 2028, including the Bac Ninh Marriott Hotel. Expected to open in 2026, the hotel is slated to be Marriott International’s debut in the northern province of Bac Ninh, close to Hanoi. The hotel plan includes 275 rooms and suites, five F&B outlets including a sky bar, a swimming pool, fitness center and Quan Spa. Expected to be the new destination for out-of-town events, the hotel is slated to feature a 691-square meter ballroom and two other meeting spaces.

Marriott International currently operates 16 hotels and resorts in Vietnam, with a strong development pipeline. In the coming years, debuts of several exciting brands are expected in the country, such as The Ritz-Carlton, Westin Hotels & Resorts, Element by Westin, and Courtyard by Marriott.

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; 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 Vinpearl
Vinpearl is the leading tourism - resort - entertainment brand in Vietnam, currently operating 35 hotels and resorts in 17 provinces and cities with a capacity of more than 18,500 hotel rooms and villas. This continuous partnership proves the right strategy of Vinpearl of elevating and internationalizing brand in hospitality industry. The collaboration promises to bring diverse experiences to domestic and foreign tourists, enabling them to experience services of global standards while enjoying Vinpearl's unique "all-in-one" ecosystem with local touches.