Serviced apartment operator Oakwood Worldwide will expand into Indochina as part of its regional growth strategy, with three properties set to open in Cambodia and Vietnam next year.
“We have been steadily growing our stronghold in China and Japan and are thrilled to be broadening our presence in South-east Asia,” said Dean Schreiber, managing director, Asia-Pacific, Oakwood Worldwide. “Cambodia and Vietnam have been rapidly developing with healthy economic growth rates and this is an opportune time for Oakwood to establish itself as we foresee increasing demand for long-term accommodation.”
In Cambodia, Oakwood Premier Phnom Penh and Oakwood Hotel & Residence Phnom Penh will feature 220 units and 168 units respectively, offering guests a choice of hotel rooms; studio, one-, two-, and three-bedroom apartments, as well as penthouses.
Both properties will be situated within One Park – a prime mixed-use development comprising office and retail space, medical centre, international school and residential towers.
Over in Vietnam, Oakwood Residence Hanoi will become the brand’s third property in the country after Oakwood Apartments Ho Chi Minh City and Oakwood Residence Saigon.
Situated next to the West Lake on Dang Thai Mai Street, the Hanoi outpost will feature 265 studios, one-, two- and three-bedroom apartments, as well as penthouse units. Facilities include a children’s playroom, swimming pool with pool bar, gym, as well as meeting and restaurant facilities.
All three Indochina properties are slated to open in mid-2019.