Ho Chi Minh City Strengthens Extended-Stay Tourism and Hospitality Growth as Ascott Introduces Oakwood Thao Dien in Vietnam’s Expanding Lifestyle District

Ho Chi Minh City is set to expand its hospitality and extended-stay accommodation sector following the signing of Oakwood Thao Dien Ho Chi Minh City by The Ascott Limited, the lodging business unit wholly owned by CapitaLand Investment. The new property, scheduled to open in 2029, will be located in the rapidly evolving Thao Dien district and is expected to strengthen the city’s appeal among corporate travellers, relocating professionals and long-stay international visitors.

The signing marks another significant step in Ascott’s ongoing expansion strategy across Vietnam, a market that continues to attract investment due to its growing economy, expanding tourism sector and increasing international business activity. Once completed, Oakwood Thao Dien Ho Chi Minh City will contribute 356 accommodation units to the city’s hospitality inventory while reinforcing the Oakwood brand’s presence in one of Southeast Asia’s most dynamic urban destinations.

The project also highlights growing investor confidence in Ho Chi Minh City’s long-term tourism and accommodation demand, particularly in areas benefiting from improved transport connectivity and mixed-use urban development.

Thao Dien Emerges as a Key Lifestyle and Residential Hub

The new Oakwood property will be situated on Tran Ngoc Dien Street within Thao Dien, one of the city’s most established residential and lifestyle districts.

Over the past decade, Thao Dien has evolved into a preferred location for expatriates, international professionals and affluent residents.

The district offers access to:

• International schools
• Healthcare facilities
• Restaurants
• Cafés
• Retail destinations
• Lifestyle amenities

This concentration of services has helped position the neighbourhood as a leading residential and hospitality destination within Ho Chi Minh City.

Its growing popularity among international residents aligns closely with demand for premium serviced residences and extended-stay accommodation.

Metro Line 1 Improves Accessibility

A major factor contributing to Thao Dien’s increasing attractiveness is enhanced transport connectivity.

The opening of Ho Chi Minh City Metro Line 1 has significantly improved access between Thao Dien and the city’s commercial core.

The metro provides direct connections to District 1, Ho Chi Minh City’s primary business, tourism and administrative centre.

Improved mobility has strengthened the district’s appeal for both residents and visitors by reducing travel times and increasing convenience.

For hospitality developments such as Oakwood Thao Dien, enhanced connectivity creates opportunities to attract a broader range of travellers seeking accommodation outside the city centre while maintaining efficient access to key destinations.

A 356-Key Development Designed for Diverse Travellers

Scheduled to open in 2029, Oakwood Thao Dien Ho Chi Minh City will feature 356 accommodation units.

The development will include:

• Studio residences
• One-bedroom residences
• Two-bedroom residences
• Three-bedroom residences
• Four-bedroom residences
• Luxury penthouses

This range of accommodation options is designed to serve a diverse visitor base.

Short-stay leisure travellers, corporate guests, relocating executives and long-term residents are all expected to benefit from the property’s flexible accommodation offering.

The variety of room configurations reflects broader trends within the hospitality industry, where demand for extended-stay and residential-style accommodation continues to grow.

Amenities Support Corporate and Leisure Demand

The new property will incorporate a comprehensive range of facilities intended to support both business and leisure travel.

Planned amenities include:

• All-day dining restaurant
• Meeting facilities
• Junior ballroom
• Executive lounge
• Fitness centre
• Sauna
• Golf simulator

These facilities position the development to cater to multiple visitor segments while enhancing guest convenience.

Corporate travellers are expected to benefit from meeting and event spaces, while leisure visitors will have access to recreational and wellness amenities.

The integrated approach reflects changing traveller expectations, with accommodation providers increasingly offering multifunctional environments capable of supporting work, relaxation and social interaction.

Extended-Stay Accommodation Continues to Grow

The global rise of flexible working arrangements, international mobility and long-term business assignments has increased demand for extended-stay accommodation.

Serviced residences have become particularly popular among travellers seeking additional space, kitchen facilities and residential-style environments.

Oakwood’s expansion into Thao Dien aligns with these trends.

The brand has built a reputation for providing accommodation solutions suited to longer stays while maintaining hotel-style services and amenities.

The Ho Chi Minh City project is expected to strengthen the city’s position as a destination capable of supporting both traditional tourism and extended business travel.

Vietnam Remains a Strategic Growth Market

The signing of Oakwood Thao Dien reflects wider confidence in Vietnam’s tourism and hospitality sector.

The country continues attracting strong levels of investment across accommodation, transport infrastructure and tourism development.

Major cities such as Ho Chi Minh City have benefited from:

• Growing international arrivals
• Expanding business travel
• Foreign investment
• Urban development
• Improved connectivity
• Rising domestic tourism demand

These factors have contributed to sustained growth across the hospitality industry.

Developers and operators increasingly view Vietnam as one of Southeast Asia’s most promising accommodation markets.

Ascott Expands Its Vietnam Portfolio

The addition of Oakwood Thao Dien further strengthens Ascott’s footprint across Vietnam.

Following the signing, the company’s portfolio in the country now includes 43 properties and more than 11,300 units across operational and pipeline developments.

This expansion demonstrates the company’s long-term commitment to Vietnam and highlights the scale of opportunities emerging within the market.

The growing portfolio also reflects increasing demand for serviced residences, hotels and extended-stay products across major Vietnamese cities.

Ascott continues positioning itself to capture this demand through strategic development partnerships and brand expansion initiatives.

Key Statistics

• Oakwood Thao Dien Ho Chi Minh City is scheduled to open in 2029.
• The development will feature 356 accommodation units.
• The property will be located in Thao Dien, Ho Chi Minh City.
• Planned facilities include a restaurant, fitness centre, executive lounge and golf simulator.
• Ascott now operates or develops 43 properties and more than 11,300 units across Vietnam.

Chronological Tracker

Past Decade – Thao Dien develops into a leading residential and lifestyle district.

Metro Expansion Era – Metro Line 1 improves connectivity between Thao Dien and District 1.

2026 – Ascott signs Oakwood Thao Dien Ho Chi Minh City.

2029 – Targeted opening of the 356-key property.

FAQ

1. Where will Oakwood Thao Dien Ho Chi Minh City be located?

The property will be located on Tran Ngoc Dien Street in Thao Dien, Ho Chi Minh City.

2. When is the property expected to open?

Oakwood Thao Dien Ho Chi Minh City is scheduled to open in 2029.

3. How large will the development be?

The property will feature 356 accommodation units ranging from studios to four-bedroom residences and penthouses.

Key Dates

• 2026 – Signing of Oakwood Thao Dien Ho Chi Minh City
• 2029 – Planned opening of the property
• Metro Line 1 Era – Enhanced connectivity supports district growth

Conclusion

Ho Chi Minh City is continuing to strengthen its position as one of Southeast Asia’s leading hospitality destinations with the planned introduction of Oakwood Thao Dien. Located in one of the city’s most established lifestyle districts and supported by improved metro connectivity, the 356-key development reflects growing demand for premium serviced residences and extended-stay accommodation. As Ascott expands its Vietnam portfolio and the country’s tourism and business travel sectors continue evolving, Oakwood Thao Dien is poised to become an important addition to Ho Chi Minh City’s hospitality landscape.