Marriott International Signs Agreement with Masterise Homes to Introduce The Ritz-Carlton Residences to Hanoi
October 12, 2021 at 07:53 am EDT
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Marriot International announced the signing of an agreement for The Ritz-Carlton Residences, Hanoi, a standalone luxury branded residential project in Vietnam, slated to open in late 2023. The Ritz-Carlton Residences, Hanoi will be situated in the heart of the prestigious Hoan Kiem District, along the popular Hang Bai Road and near Hoan Kiem Lake, one of the city's most beloved landmarks. The anticipated 104-unit branded residences will feature one-bedroom Premier, two-bedroom Classic and three-bedroom Presidential residences, to suit each resident's needs and preferences. The agreement leverages the long-term strategic relationship between Masterise Homes and Marriott International, combining the expertise of a pioneer in luxury real estate products and services in Vietnam and the global hotel management company. The project expects to feature award-winning architects, designers, and project management consultants. Once completed, The Ritz-Carlton Residences, Hanoi is slated to be the fifth The Ritz-Carlton branded residence in Asia Pacific. In line with the long-standing tradition of service excellence synonymous with The Ritz-Carlton brand, homeowners will be able to enjoy world-class amenities complemented by the legendary service from the Ladies and Gentlemen of The Residences. Its prominent location offers the best of the city within close proximity to the hotel and allows residents to enjoy the vibrancy of Hanoi's old quarter streets. The signing of The Ritz-Carlton Residences, Hanoi follows the signing of the milestone 4,200 dual-branded residential and officetel units project in Ho Chi Minh City with Masterise Homes under two brands within the Marriot Bonvoy portfolio– JW Marriott and Marriott Hotels.
Marriott International, Inc. specializes in hotel operating. Net sales break down by activity area as follows:
- The United States and Canada (79.9%):
- International (20.1%).
At the end of 2023, the group operated 8,785 hotels and residences (1,513,926 rooms) under the brands JW Marriott, The Ritz-Carlton, St. Regis, W Hotels, The Luxury Collection, EDITION, Bulgari, Marriott Hotels, Sheraton, Westin, Courtyard, Residence Inn, Le Méridien, Fairfield by Marriott, SpringHill, Renaissance, Four Points, AC Hotels by Marriott, Protea Hotels, Element, Moxy, etc., distributed between franchised hotels (6,563; 994,354 rooms), managed hotels (2,046; 575,963 rooms), owned and leased hotels (50; 13,115) and residential hotels (113; 11,481). In addition, the group is developing a real estate development business under its own brands.