Following its recent record-breaking financial performance and disciplined €1.1 billion global investment programme, Palladium Hotel Group has formalised a management agreement with Hanoitourist to reposition the historic Hoa Binh Hotel.
This landmark signing marks the group’s second major venture in Vietnam and a significant step in its selective international expansion strategy.
Strategic Institutional Partnership
The agreement with Hanoitourist, Hanoi’s primary stakeholder in tourism and heritage, signals Palladium Hotel Group’s commitment to collaborating with local institutions to drive high-value, sustainable tourism. By bringing the BLESS Collection Hotels brand to the heart of Vietnam’s capital, the group is positioning itself at the forefront of the region’s luxury hospitality evolution.
A Historic Landmark Reimagined as a Contemporary Luxury Icon
The property will undergo a comprehensive renovation to be transformed into a 5-star luxury hotel, operated under BLESS Collection Hotels, Palladium Hotel Group’s luxury brand. The renovation will prioritise the preservation of the building’s historic value, while integrating contemporary design inspired by Vietnamese culture and strengthening its connection to the destination.
This repositioning responds to the growing international demand for luxury hospitality experiences with a strong sense of place and local identity. Construction works are expected to begin in 2026 and are projected to last approximately 24 months.
Once completed, the hotel will feature 80 suites, a panoramic rooftop, a classic-architecture lobby bar, and a signature restaurant, where aroma, flavour and aesthetics come together in a fully immersive sensory experience. Additional facilities will include an elegant ballroom, evoking the spirit of Hanoi’s golden age, and a private outdoor swimming pool, conceived as a serene urban oasis for rest and contemplation.
Reinforcing the Group’s Luxury Strategy through BLESS Collection Hotels
In line with its global growth plan and focus on high-value assets, Palladium Hotel Group further strengthens its commitment to the luxury segment through BLESS Collection Hotels, a brand positioned in the upper end of the market with strong international growth potential.
The future hotel in Hanoi will become the second BLESS Collection Hotels property in Vietnam, following the announced opening of a luxury resort in Ninh Van Bay scheduled for 2027. Internationally, the brand currently operates hotels in Madrid and Ibiza, with two new openings planned for this summer: an urban hotel in Barcelona, and a second property in Ibiza, located within an exclusive lifestyle destination, combining hospitality, high-end retail and gastronomy under a carefully curated concept.