Phu Quoc island in Vietnam is experiencing peak-season hotel occupancy rates above 90 percent as it ramps up construction of thousands of new rooms ahead of the Asia-Pacific Economic Cooperation (APEC) summit scheduled for November 2027. This surge in demand has prompted developers to significantly increase hotel supply to accommodate anticipated visitors during the event.
Sun Group Drives Large-Scale Ruby Beach Hotel Project
Sun Group is developing the Ruby Beach hotel complex in Bai Dat Do, southern Phu Quoc, with a first phase comprising 17 towers and more than 7,000 rooms. Subsequent phases could expand the complex to nearly 20,000 rooms. The project will feature international hotel brands
including Marriott International as part of its portfolio.
Marriott International Partnerships Expand Hotel Inventory in Vietnam
In March 2026, Sun Group and Marriott International agreed on plans for 10 hotels and resorts totaling nearly 4,500 rooms across Phu Quoc and Vung Tau. These properties are scheduled to open between 2026 and 2030. In September 2026, the two companies signed a framework agreement to study additional hotel development opportunities in Phu Quoc, Da Nang, and other Vietnamese cities.
CBRE Highlights Demand Growth Needed to Sustain Occupancy
Real estate services firm CBRE projects that Phu Quoc will require approximately 10 percent annual growth in room-night demand through 2030 to maintain current occupancy levels exceeding 90 percent. The company
warns that post-APEC 2027, some hotels could face difficulties sustaining high occupancy rates due to potential declines in demand.
APEC 2027 Summit Drives Accommodation Expansion in Phu Quoc
The APEC 2027 summit is scheduled to be held in November 2027 on Phu Quoc. This event is the key driver behind the island’s extensive hotel development boom. However, there are concerns that the hotel market might struggle to maintain occupancy at high levels after the summit concludes, posing operational risks for some properties.
