Going with the leading names in the market, the successful formula continues to be applied by ROX Group with a management agreement with Hilton in October 2024.
ROX Group has signed a management agreement with Hilton to bring mid-market hotels to Vietnam, strongly affirming ROX Group's goal of expanding operations through cooperation, development, and investment programs with major partners.
The agreement with Hilton will help ROX Group expand its partner network in the hotel accommodation services segment. Previously in this service segment, ROX Group cooperated with two large corporations, Accor and Ennismore.
Following years of success in the field of industrial park real estate development and residential real estate, ROX Group began to expand into the hotel and resort field 9 years ago with the establishment of TNH Hotels & Resorts company.
Later in 2020, the convenient hotel chain SOJO Hotels, a self-built and developed brand, was officially launched with the first 3 hotels in Bac Giang, Nam Dinh, and Thai Binh. SOJO's touchless hotel model has brought new experiences, establishing a completely new hotel model in the Vietnamese market. Over the next 3 years, SOJO Hotels quickly established a stable position in the domestic market and expanded the scale of hotels in 13 provinces and cities nationwide.
At the signing ceremony, ROX Group representative said, with more than 100 years of history serving more than 3 billion customers, Hilton has a proven track record of developing successful hotels across Asia Pacific. Choosing to go with a partner that is known for its service quality and product sustainability affirms ROX Group's steadfast strategy for developing the hotel industry in the market. We believe this cooperation will help both parties expand their business activities, expand their customer base, and especially will help bring more unique experiences to the accommodation industry.
Towards a sustainable future
After 28 years of development in Vietnam, ROX Group has affirmed its position as a leading multi-industry group in Vietnam in the fields of urban and industrial park development, hotels and resorts, operation management services, energy, construction, technology and financial investment. Pioneering creativity and innovation, ROX Group has brought beneficial values to customers and partners, contributing to improving the quality of life in localities across the country.
Meanwhile, Hilton is one of the largest hotel groups in the world with more than 8,300 hotels in 138 countries and territories. This group is also a leading brand in applying the latest technology trends to optimize operating processes and enhance customer experience. Dedicated to fulfilling its founding vision to fill the earth with the light and warmth of hospitality, Hilton has welcomed over 3 billion guests in its more than 100-year history and has over 200 million loyal Hilton Honors members.
After a quarter of a century since entering the Vietnamese market, Hilton has contributed significantly to the development of tourism infrastructure and attractions. The company currently has five properties across three brands in Vietnam - Curio Collection by Hilton, Hilton Garden Inn, and its flagship Hilton brand - and aims to have 25 hotels by 2026, making Vietnam as one of Hilton's most significant markets in South East Asia.
“We have full confidence in the expertise and innovative products being developed by ROX Group in the Vietnamese market. Their hotel chain represents a modern concept and demonstrates exceptional operational and management capabilities, fully aligned with Hilton's strategic partnership standards. As international tourist arrivals into Vietnam continue to rise, and domestic travel spending is projected to hit record levels this year, this partnership will help us build robust relationships with both international and local travelers. The agreement also reflects our confidence in the strength of our brands and our ability to effectively grow our footprint in the region's rapidly evolving markets, said Clarence Tan, Senior Vice President, Development, Asia Pacific at Hilton.
In the first 9 months of 2024, Vietnamese tourism welcomed 12.7 million international visitors and 95.5 million domestic visitors. Total revenue from tourists is estimated at 637.7 trillion VND.
The rapid growth of the middle class also leads to increasing demand for tourism, making Vietnam a growing and attractive destination for international investors. According to statistics, the emerging middle class in Vietnam currently accounts for 13% of the population and is expected to increase to 26% by 2026 and is forecast to reach more than 50 million people by 2050.
International agreements between giants such as ROX Group and Hilton helps the parties strengthen their brands, expand their markets, and also bring unique and interesting products and services to the market. The commitments of both sides will contribute to increasing the attraction and sustainable development of Vietnamese tourism in the future.