Continent Worldwide Hotels announced on Monday the signing of a master franchise and development agreement with Ritz International Co. Ltd to introduce and develop company’s all six distinctive brands in Vietnam.
This announcement confirms Continent’s strategy to continue to expand its brands in South Asia.
Despite significant challenges in past years for the travel and hospitality industries, Continent Worldwide Hotels successfully secured several master franchise and territorial agreements as well as opened new hotels in South Asia, Middle East and Africa this year, and as per the plans, expecting to have more than 20 hotels opening by 2025.
“With the limited number of internationally branded properties in Vietnam, this anticipated partnership with Ritz International Co. Ltd will help us accelerate our growth plans and make a significant impact on the Vietnamese hotel market in a relatively short space of time, said Bernard Houppertz, President of Operations & Franchise Development – Asia.
“The introduction of our brands from the Continent Worldwide Hotels will also help the market to create demand from the developers to explore fresh and new brands to bring the Vietnamese hotel market.”
Separate from the Ritz International Co. Ltd’s this new master franchise agreement, Continent Worldwide ’s first hotel opened in Hanoi with the Ancyra Hotels & Inns brand and also same hotel owner converted his Da Nang property to AncyrA brand earlier this year.
Amir Ahmad Mohamad, the CEO of Ritz International Co. Ltd. said: “As a result of extensive research Ritz International Co. Ltd has confirmed that the Vietnamese hotel sector offers tremendous growth opportunities. The choice of partner for this sector was critical and the new way of the approach to Franchise business of Continent Worldwide Hotels convinced us to choose of partner; giving us the confidence to be sure that this partnership will be a huge success.”
Bernard Houppertz added: “We are believe that Vietnam and also South Asia in general, represents some of the greatest potential for hotel growth in the world at the present time and are delighted to be partnering with Ritz International Co. Ltd on this potential.”