Vinpearl: Owner, Hotels, Operators and Pipeline

Vinpearl is the hospitality and leisure company of the Vietnamese conglomerate Vingroup. Vingroup owned 85.55% of Vinpearl at the end of March 2025, and Vinpearl shares have traded on the Ho Chi Minh City Stock Exchange (HOSE) as VPL since 13 May 2025. At the end of 2025 Vinpearl had 35 hotels and resorts with 17,525 equivalent rooms, plus VinWonders theme parks, golf courses and convention centres. The trade story is the brand mix: by our count, 62% of Vinpearl’s rooms now sit under Marriott or Meliá brands, and new growth is coming through Vingroup’s Can Gio mega-project.

Key facts

Who owns Vinpearl?

Vingroup. Its effective stake was 85.55% at the end of the first quarter of 2025: 85.51% held directly and 0.04% through two wholly owned subsidiaries, according to Vietcap’s listing note. The rest trades on HOSE.

In June 2026 Vinpearl closed a US$255 million investment from SeaTown Private Credit Fund III and the Oman Investment Authority through Vietnam Oman Investment. TCBS describes it as more than 84 million preferred shares. We have not seen an updated Vingroup stake since that deal.

Vinpearl has been listed before. Its shares first traded on HOSE in 2008. At the end of 2011 it merged with Vincom to form Vingroup and the VPL shares were converted into VIC. Vinpearl was separated again as its own company in 2023 and relisted in 2025.

The portfolio by brand family

Vinpearl reports capacity in “equivalent rooms”. Its report does not define the term, but comparing it with Marriott’s key counts suggests villas are counted by bedroom. That would explain why some figures below are higher than the key counts in Vietnam’s national accommodation register.

Takeaway: three provinces hold 78% of Vinpearl’s rooms, and outside them most of the portfolio is Meliá- or Marriott-branded city hotels.

Meliá

In February 2022 Vinpearl agreed to transfer the management rights of 12 hotels and resorts to Meliá Hotels International for at least 10 years, under a new “Meliá Vinpearl” brand. Meliá Vinpearl Quang Binh was the first, from January 2022. Some of the hotels now trade as “Affiliated by Meliá” instead, such as Vinpearl Ha Tinh and Vinpearl Cua Hoi Beach Resort. Vinpearl’s 2025 annual report lists 13 Meliá-branded properties, including two of the three largest hotels in the portfolio: Meliá Vinpearl Phu Quoc (1,556 equivalent rooms) and Meliá Vinpearl Nha Trang Empire (1,386). The largest is Nha Trang Marriott Resort & Spa, Hon Tre Island (1,684).

Marriott

Marriott signed eight hotels with Vinpearl in 2022, six conversions and two new builds, and seven more in April 2023. That made Vinpearl Marriott’s largest owner in Vietnam, with 15 hotels, TTG Asia reported. The 2023 deal included three conversions: Nha Trang Marriott Resort & Spa, Hon Tre Island; Renaissance Hoi An Resort & Spa; and Da Nang Marriott Resort & Spa, Non Nuoc Beach Villas. Bac Ninh Marriott Hotel was announced for 2026. Sheraton Vinh opened in late 2025, which Vinpearl calls the first internationally branded five-star hotel in Nghe An.

Every Vinpearl hotel and resort

As listed in Vinpearl’s 2025 annual report, at 31 December 2025.

Hon Tre island and the Nha Trang city hotels make Khanh Hoa the largest cluster, with 6,477 equivalent rooms including Cam Ranh. See our Vinpearl Nha Trang profile for that cluster in detail.

Beyond hotels

• VinWonders: theme parks covering more than 780 hectares, which welcomed nearly 10.4 million visitors in 2025. The first, Vinpearl Land Nha Trang, opened in 2006 and is now VinWonders Nha Trang.
• Vinpearl Safari Phu Quoc: which Vinpearl describes as Vietnam’s first semi-wild conservation park.
• Golf: Vinpearl Golf, starting with Vinpearl Golf Nha Trang on Hon Tre in 2011.
• VinPalace: launched in 2025 as Vinpearl’s MICE, entertainment and arts brand, including the VinPalace Ocean City convention centre.

For hotel owners, these matter as demand generators. Vinpearl’s model is the “all-in-one” destination, where the park, golf course and hotel sit together and feed each other.

Recent results

Net profit in H1 2026 was VND 2,140bn, against VND 259bn a year earlier. It includes about VND 1,200bn after tax of one-off financial income, according to TCBS. Its note also says room nights sold rose 23% and average room rate 14% in the first half, with the Nha Trang cluster up 52% in the second quarter.

Pipeline

• Can Gio, Ho Chi Minh City: Vingroup’s Vinhomes Green Paradise will add The Ritz-Carlton Can Gio and Can Gio Marriott Hotel, about 700 rooms in total, due in the fourth quarter of 2027. Four IHG hotels with more than 1,000 rooms follow: Holiday Inn Express and Garner (2028), and InterContinental and Crowne Plaza (2030). Vinpearl will lead operations with the brands.
• Bac Ninh Marriott Hotel: announced in 2023 for 2026.
• Growth target: at listing, Vinpearl planned a 40% increase in hotel room capacity by 2028.

Recent news

• 24 June 2026: US$255 million preferred share investment from SeaTown and the Oman Investment Authority.
• 2026: Can Gio agreements with Marriott (The Ritz-Carlton, Marriott) and IHG (four brands).
• 2025: Vinpearl Hotel Bac Ninh (265 rooms) opens, followed by Sheraton Vinh in late 2025.
• 13 May 2025: VPL starts trading on HOSE.

What it means for owners and operators

1. Vinpearl is now mostly an owner, not a brand

With 62% of its rooms under Marriott or Meliá flags, Vinpearl looks more like a large owner with an asset-management team than a single hotel brand. For operators, it is one of the few owners in Vietnam that can move a dozen hotels in a single deal.

2. Its clusters set the rate floor in key resort markets

In Nha Trang, Phu Quoc and Nam Hoi An, Vinpearl controls thousands of rooms next to its own parks. Our view: independent hotels in those markets compete against bundled room-park-golf packages, so they need a different proposition rather than a lower rate.

3. Watch the listed-company reporting

Since 2025 Vinpearl publishes quarterly results and an annual report with property-level room counts. That makes it one of the best public data sources on Vietnam’s resort market. We use it in our profiles and will track it.

4. Talent moves with the brand mix

Meliá’s Vinpearl hotels hire under Meliá structures, such as the cluster general manager role for Meliá Vinpearl in North Vietnam. Candidates should read the brand on a Vinpearl hotel as a signal of who actually runs it.

FAQ

Who owns Vinpearl?

Vingroup, with an 85.55% effective stake at the end of March 2025. The rest of the shares trade on HOSE under the ticker VPL.

Is Vinpearl listed?

Yes. Vinpearl shares have traded on the Ho Chi Minh City Stock Exchange since 13 May 2025.

How many hotels does Vinpearl have?

35 hotels and resorts with 17,525 equivalent rooms at 31 December 2025, according to its annual report.

What is Meliá Vinpearl?

A brand created in 2022 when Meliá Hotels International took over the management of 12 Vinpearl hotels for at least 10 years. Some now use “Affiliated by Meliá” instead.

Which Vinpearl hotels are run by Marriott?

Eleven Marriott-branded hotels, including Nha Trang Marriott Resort & Spa, Hon Tre Island, Sheraton Phu Quoc Long Beach Resort and Vinpearl Landmark 81, Autograph Collection.

Is Vinpearl part of Sun Group?

No. Vinpearl belongs to Vingroup. Sun Group is a separate private developer.

Where are Vinpearl’s resorts?

Mainly Nha Trang and Cam Ranh in Khanh Hoa, Phu Quoc, Nam Hoi An in Da Nang, and Ha Long, plus hotels, mostly in cities, in 15 other provinces.

Sources and method

• Portfolio, history and 2025 results: Vinpearl Annual Report 2025, chapters 1–6, published March 2026. Hotel names and brand families are as the report lists them.
• Ownership and listing: Vietcap listing note, 10 May 2025; The Investor; Vietnambiz; Diễn đàn Doanh nghiệp for the 2028 target.
• Meliá: Vinpearl, 23 February 2022.
• Marriott: TTG Asia, 21 April 2023; Hospitality Net on the 2022 deal.
• 2026 results and investment: MarketScreener, 30 July 2026; TCBS Q2 2026 update; Vinpearl via AP, 24 June 2026.
• Can Gio: Vinhomes Green Paradise releases with Marriott and IHG.
• Our calculations: brand-family and province totals and shares, from the annual report’s property list.
• Gaps: Vingroup’s stake after June 2026; whether Bac Ninh Marriott Hotel has opened; keys (as opposed to equivalent rooms) for every hotel.

Data checked on 6 October 2026.