Mapletree and Marriot International sign cooperation agreement
Mapletree and Marriot International sign cooperation agreement
Mapletree Investments and Marriott International on July 10 signed an agreement to operate the group’s existing hotel and serviced apartments in District 1 of Ho Chi Minh City, as well as introduce the JW Marriott brand to the city.
The existing hotel will be converted into JW Marriott Hotel & Suites Saigon and the rebranded property is slated to open in September 2024
This marks the brand’s third location in Vietnam, following Hanoi and Phu Quoc.
Mapletree will be upgrading the hotel as part of its enhancement plan for its prime asset, mPlaza, in the heart of Ho Chi Minh City. This follows from the completion of the enhancements to the office lobby at mPlaza.
“Ho Chi Minh City, a vibrant metropolis and a centre of commerce and culture in Vietnam, is the perfect location to introduce our iconic JW Marriott brand. We are delighted to bring our renowned hospitality to this key market,” said Shawn Hill, Marriott International’s Chief Development Officer, Asia Pacific excluding China.
“We look forward to working with Mapletree to introduce the brand’s legacy of extraordinary hospitality, thoughtful design, and enriching experiences to this gateway city,” Hill added.
JW Marriott Hotel and Suites Saigon is expected to feature a 21-storey hotel tower and a 31-storey serviced apartment tower consisting of one- to three-bedroom apartments, all of which offer panoramic views of the skyline and Saigon River. This central location and diverse accommodation make it the perfect choice for business and leisure travellers, on short or extended stays in Ho Chi Minh City.
Following the rebranding the property is expected to feature a range of amenities, including a conference space of more than 1,200 square metres and five restaurants and bars.
When guests are not busy working or exploring the city, they can unwind in outdoor pools and fitness centres, with each tower offering separate facilities. Meanwhile, the planned Spa by JW will be a haven of wellness with seven treatment rooms, whirlpools, steam rooms and saunas.
Located on the junction of Hai Ba Trung street and Le Duan boulevard, JW Marriott Hotel & Suites Saigon is surrounded by major local attractions including Ben Thanh Market, Dong Khoi street, and Notre Dame Cathedral, and is just 6km away from Ho Chi Minh City’s Tan Son Nhat International Airport.
JW Marriott Hotel & Suites Saigon will become Marriott International’s 24th property in Vietnam and the company’s fifth hotel in Ho Chi Minh City, complementing the existing Sheraton, Le Méridien, Renaissance, and Autograph Collection branded properties in the city.
JW Marriott is part of Marriott International’s luxury portfolio of brands and consists of more than 120 JW Marriott hotels in 40 countries and territories worldwide.
Headquartered in Singapore, Mapletree is a global real estate development, investment, capital and property management company manages three Singapore-listed real estate investment trusts (REITs) and nine private equity real estate funds, which hold a diverse portfolio of assets in Asia Pacific, Europe, the United Kingdom and the United States.
As of March 31, Mapletree owns and manages S$77.5 billion of office, retail, logistics, industrial, data centre, residential and student accommodation properties.
The group’s assets are located across 13 markets globally, namely Singapore, Australia, Canada, China, Europe, Hong Kong SAR, India, Japan, Malaysia, South Korea, the United Kingdom, the United States, and Vietnam.
To date, Mapletree’s investments in Vietnam has exceeded Singapore $1.6 billion as at March 31 with assets across Hanoi, Ho Chi Minh City, Binh Duong, Bac Ninh, Bac Giang, and Hung Yen.
The group provides around 557,000sq.m of warehouse, 407,800sq.m of commercial and serviced residences as well as 142,200sq.m of residential in Vietnam.
Recent developments in Ho Chi Minh City include Saigon South Place (District 7), One Verandah (District 2) and mPlaza Saigon (District 1).
