Pan Pacific Hotels Group (PPHG), part of Singapore’s UOL Group Limited, is enhancing its footprint in Southeast Asia by launching PARKROYAL Serviced Suites Hanoi. This move is part of the group’s strategy to tap into the region’s growing demand for long-stay accommodations, driven by robust economic growth and increasing international connectivity.
The new Hanoi property marks PPHG’s third venture in Vietnam, following recent openings in Jakarta and Penang. The group plans to introduce eight more properties across Vietnam, Cambodia, Thailand, Indonesia, and the Philippines over the next two years, bringing its total to 23 properties in Southeast Asia.
Vietnam’s economy is experiencing significant growth, with a GDP increase of 7.09% in 2024 and a tourism rebound that saw 17.6 million international arrivals. The country aims for 22 million visitors in 2025. This economic momentum, coupled with urbanisation in cities like Hanoi, is boosting demand for flexible, long-stay options.
A report by Savills highlights that Hanoi’s serviced apartments had an 86% occupancy rate in Q1 2025, a 4% rise from the previous year, with rental rates increasing by 5% year-on-year. PPHG’s latest launch aims to cater to this demand, offering premium long-stay accommodations for business travellers and families.
“Southeast Asia is a key pillar in our regional strategy,” said PPHG, emphasising Vietnam’s potential due to its dynamic economy and demand for extended-stay options. The new Hanoi suites complement the group’s flagship Pan Pacific Hanoi, marking a significant step in its regional expansion.
