The Ascott Limited (Ascott), the lodging business unit wholly owned by CapitaLand Investment (CLI), has signed a management contract for Citadines Riverside Can Tho, a new hospitality development in Vietnam’s Mekong Delta. The partnership with Huu Toan Corporation – a Vietnamese energy solutions provider – marks Ascott’s first collaboration with the company, the Citadines brand’s debut in Can Tho, and Huu Toan’s first venture into the hospitality sector. The project expands Ascott's footprint in Vietnam to 38 properties, including those in operation and under development.

Scheduled to open in 2028, Citadines Riverside Can Tho will feature 244 units in a riverside location about four kilometres from the city centre. The property sits within a growing residential area opposite the Tay Do cultural centre and near the city’s emerging administrative district, offering access to cultural, business, and entertainment facilities.

Can Tho, the economic and cultural hub of the Mekong Delta, has seen strong growth in agriculture, logistics, trade, and renewable energy. These developments have supported a rise in tourism, with the city now attracting millions of visitors each year to its floating markets, river tours, and expanding MICE infrastructure.

Ongoing infrastructure investment and urban growth continue to strengthen Can Tho’s position as a potential tourism and business centre in southern Vietnam. Citadines Riverside Can Tho aims to respond to this trend by offering Ascott’s approach to modern serviced accommodation, combining comfort and flexibility with lifestyle-focused service. The partnership with Huu Toan Corporation seeks to provide an authentic riverside stay that reflects local culture while introducing international hospitality standards to the region.

Mr. David Cumming, Regional General Manager of Vietnam, Cambodia & Myanmar, Ascott, said: “At Ascott, our mission in Vietnam is clear — to deliver world-class standards of hospitality service while embracing and celebrating local culture. Ascott has cultivated a strong and agile team in Vietnam, driven by performance and passion. We are fully committed to ensuring the success of Citadines Riverside Can Tho and to elevating this landmark project into a benchmark for hospitality excellence in the Mekong Delta.”

Mr. Ta Huu Toan, CEO of Huu Toan Corporation, said: “After four decades in machinery and equipment, we are strategically diversifying into hospitality and serviced residences. Ascott is the ideal partner for this transition – a globally recognised hospitality operator with deep management expertise and more than 30 years of proven success in Vietnam since 1994. As the investor of Citadines Riverside Can Tho, we will provide optimal conditions for Ascott to deploy their hospitality management expertise. We look forward to building a long-term partnership with Ascott that extends well beyond this inaugural project.”

The addition brings the Citadines portfolio in Vietnam to five properties. Globally, Citadines has surpassed 200 properties, becoming Ascott’s largest brand. Its appeal lies in blending serviced apartment comfort with hotel-style convenience, supported by Ascott’s flexible operating model that caters to both short and extended stays.

This approach aligns with Can Tho’s evolving tourism landscape, where business and leisure travel increasingly overlap. As Citadines extends beyond major cities into resort and leisure destinations – such as the upcoming 348-unit Citadines Selavia Phu Quoc opening in 2027 – the brand continues to adapt to Vietnam’s diverse hospitality market, from urban stays to riverside retreats.