Palladium Hotel Group has signed a hotel management agreement with Hanoitourist to transform the historic Hòa Bình Hotel into a luxury property under its BLESS Collection Hotels portfolio, marking a significant step in the company’s expansion across Vietnam.The project represents Palladium Hotel Group’s second signed property in Vietnam, following the previously announced BLESS Collection Hotels resort in Ninh Van Bay, scheduled to open in 2027.A Strategic Expansion in a High-Growth Luxury MarketLocated in the heart of Hanoi, the historic Hòa Bình Hotel sits within walking distance of key cultural landmarks including Hoan Kiem Lake and the Opera House. The property will undergo a full renovation and repositioning as a five-star luxury hotel, aligning with growing global demand for high-end, culturally immersive travel experiences.For Palladium Hotel Group, the signing reinforces its long-term commitment to Asia-Pacific growth, as the company continues to expand its presence beyond its established markets in Europe and the Americas.“Vietnam is a strategic market with enormous potential for Palladium Hotel Group. This agreement with Hanoitourist reflects our willingness to work closely with leading public institutions and to contribute to the country’s tourism and economic development. We are committed to elevating Hanoi’s luxury hospitality offering while respecting, preserving and showcasing the city’s unique cultural identity" says Jesus Sobrino, CEO of Palladium Hotel Group.A Historic Landmark Reimagined as a Contemporary Luxury IconThe 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 prioritize 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, flavor 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 HotelsIn 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.Alongside its expansion in Spain, BLESS Collection Hotels is preparing new international openings, including a future property in Milan, as part of a selective growth strategy focused on prime urban and leisure destinations.These developments consolidate a roadmap centered on destinations with strong return potential and the creation of differentiated luxury products, reinforcing Palladium Hotel Group’s positioning in the upper segment of the market and its appeal to institutional and financial partners.A Strategic Partnership Looking AheadThe BLESS Collection Hotels project in Hanoi aspires to become one of the most exclusive hotels in the Vietnamese capital and marks the beginning of a strong, long-term partnership between Hanoitourist and Palladium Hotel Group, based on a shared vision to promote higher-quality, more sustainable tourism closely connected to local identity and heritage.As a further sign of its commitment to the region, Palladium Hotel Group has also announced the upcoming opening of a regional Asia-Pacific office in Ho Chi Minh City, which will strengthen its operational presence in the region, accelerate new development opportunities and support its long-term international expansion strategy.