Vingroup partners with IHG for 4 hotels at $10B Vinhomes Green Paradise Can Gio

Overview

Vingroup (VIC) subsidiary, Can Gio Tourism Urban Area Joint Stock Company, signed a cooperation agreement with IHG Hotels & Resorts to develop four hotels with over 1,000 rooms at the Vinhomes Green Paradise Can Gio project. This $10 billion coastal urban development is one of the largest in Vietnam and aims to become a major tourism destination.

Key Facts

• Vingroup subsidiary signed an agreement with IHG Hotels & Resorts on April 23, 2026.
• The deal includes four hotels: InterContinental Saigon Can Gio (400 rooms), Crowne Plaza Saigon Can Gio (400 rooms), Holiday Inn Express Saigon Can Gio (130 rooms), and Garner Saigon Can Gio (130 rooms).
• Holiday Inn Express and Garner brands will debut in Vietnam through this project.
• Holiday Inn Express and Garner are expected to operate from 2028; InterContinental and Crowne Plaza from 2030.
• Vinpearl, a Vingroup subsidiary, will manage and coordinate with IHG during development and operation.
• The project targets a total of approximately 7,000 rooms.
• Vinhomes Green Paradise Can Gio has a total investment of $10 billion, covering 2,870 hectares with an expected population of 230,000.

What Happened

On April 23, 2026, Can Gio Tourism Urban Area Joint Stock Company, a subsidiary of Vingroup, signed a cooperation agreement with IHG Hotels & Resorts to develop a hotel system at the Vinhomes Green Paradise Can Gio project. The agreement was announced by Vingroup and covers four hotels with over 1,000 rooms under IHG’s brands: InterContinental, Crowne Plaza, Holiday Inn Express, and Garner.

Vinpearl, Vingroup’s hospitality arm, will participate in management and coordination with IHG. The hotels are part of a broader plan to create a comprehensive accommodation system at the project, targeting around 7,000 rooms. The project also includes amenities such as VinWonders park, a 5,000-seat theater, Paradise Lagoon, an international cruise port, and two golf courses.

Market Context

VIC shares closed at VND 177 on April 15, 2026, up 6.95% with high volume of 6.3 million shares traded on HOSE. The partnership with IHG adds to VIC’s hospitality portfolio, which already includes Vinpearl. The Vinhomes Green Paradise project is a key driver for VIC’s long-term growth, given its scale and investment. The broader real estate sector in Vietnam has been recovering, with large-scale projects attracting foreign partnerships.

Strategic Significance

This partnership strengthens Vingroup’s position in the high-end hospitality segment by leveraging IHG’s global brand recognition and management expertise. The introduction of Holiday Inn Express and Garner to Vietnam expands Vingroup’s market reach to mid-scale and budget-conscious travelers. The project’s ESG-focused development model aligns with global sustainability trends, potentially attracting foreign investment and tourism. For long-term investors, this deal supports VIC’s strategy of integrating real estate, hospitality, and entertainment to create self-contained urban ecosystems.

What to Watch

• Progress of hotel construction and adherence to the 2028 and 2030 operational timelines.
• Updates on the Vinhomes Green Paradise project’s overall development milestones, including infrastructure and amenities.
• VIC’s quarterly earnings reports to gauge the financial impact of the partnership and project.
• Any additional foreign partnerships or brand introductions for the project.
• Regulatory approvals and environmental compliance for the coastal reclamation project.