Sun Group and Accor Expand Strategic Partnership with 6,000 New Rooms in Vietnam

Overview

Sun Group and Accor, one of the world’s largest hotel groups, signed a strategic partnership agreement on July 7 to add nearly 6,000 hotel rooms and serviced apartments in Phu Quoc and Da Nang. The deal, witnessed by Accor’s global Chairman and CEO Sebastien Bazin, marks an escalation of their decade-long relationship and introduces several Accor brands to Vietnam for the first time, including Sofitel, Swissôtel, TRIBE, and SO/.

Key Facts

• Sun Group and Accor signed a strategic partnership agreement on July 7, 2025, elevating their cooperation after more than a decade.
• The deal adds nearly 6,000 hotel rooms and serviced apartments across Phu Quoc and Da Nang.
• Accor will operate brands including SO/, MGallery, Grand Mercure, TRIBE, and ibis Styles at Sun Group’s Bai Dat Do and Hon Thom mixed-use urban areas in Phu Quoc.
• In Da Nang, Accor will operate Sofitel, Swissôtel, and MGallery at the DIFF Da Nang complex and Ba Na Hills.
• Sofitel, Swissôtel, TRIBE, and SO/ are making their debut in Vietnam through this partnership.
• Accor operates over 5,800 hotels in 110+ countries, with Vietnam being its third-largest market in Asia with 45 hotels.
• Accor’s global loyalty program has over 110 million members, expected to drive high-quality international tourists to Sun Group’s destinations.

What Happened

On July 7, Sun Group and Accor signed a strategic partnership agreement to significantly expand their collaboration. The signing was witnessed by Accor’s global Chairman and CEO Sebastien Bazin, who emphasized the shared ambition to shape the long-term development of Vietnam’s tourism industry. According to the agreement, Accor will manage a diverse portfolio of brands across midscale to luxury segments, including lifestyle brands, at Sun Group’s key projects in Phu Quoc and Da Nang.

In Phu Quoc, Accor will operate SO/, MGallery, Grand Mercure, TRIBE, and ibis Styles at the Bai Dat Do mixed-use urban area and Hon Thom island. In Da Nang, Sofitel, Swissôtel, and MGallery will be introduced at the DIFF Da Nang complex and Ba Na Hills. Notably, Sofitel, Swissôtel, TRIBE, and SO/ are making their first appearance in Vietnam, enriching Sun Group’s high-end resort real estate portfolio. Sun Group Chairman Dang Minh Truong also highlighted the company’s accelerating infrastructure investment in Phu Quoc, including the launch of Sun PhuQuoc Airways.

Market Context

Sun Group (SUN) is listed on the Ho Chi Minh Stock Exchange (HOSE) and is a major player in Vietnam’s hospitality and real estate sectors. The partnership comes as Vietnam’s tourism industry continues to recover, with international arrivals rising. Sun Group’s extensive ecosystem in Phu Quoc, including resorts, entertainment, and infrastructure, positions it to benefit from increased tourist flows. The addition of nearly 6,000 rooms under globally recognized brands strengthens Sun Group’s competitive edge in the premium resort segment.

Strategic Significance

This partnership deepens Sun Group’s integration with a global hospitality leader, providing access to Accor’s vast distribution network and loyalty program. The introduction of new-to-market brands like Sofitel and Swissôtel enhances Sun Group’s ability to attract high-spending international tourists. The deal also supports Sun Group’s strategy of developing integrated resort ecosystems, particularly in Phu Quoc, where it is investing in infrastructure such as a new airline. For Accor, Vietnam remains a key growth market, and this partnership solidifies its presence in the country’s premier resort destinations.

What to Watch

• Opening timeline for the first hotels under the new brands, particularly the Rixos Phu Quoc Resort expected in Q4 2025.
• Impact on Sun Group’s financials, including revenue from hospitality operations and potential asset revaluations.
• Progress of Sun PhuQuoc Airways and its effect on tourist arrivals to Phu Quoc.
• Any further expansion of the partnership to other Sun Group projects in Vietnam or abroad.
• Competitor responses from other major hotel groups in Vietnam’s resort market.