The founder and chairman of Singapore-based real-estate investment firm SC Capital Partners, Suchad Chiaranussati, has acquired Ho Chi Minh, Vietnam-based Fusion Hotel Group.
Fusion executives said in a news release the agreement will bolster opportunities for its expansion. Fusion will continue to manage its properties. Chiaranussati added SC Capital is excited to grow its hotel portfolio in Vietnam.
“Vietnam [is] one of the region’s fastest-growing and high-barrier-to-entry hospitality markets. It reinforces our conviction that strong operating platforms are increasingly essential to successful real estate investing,” Chiaranussati said in a statement.
On March 13, Fusion opened the 161-room Grand Royal Riverside Hue-Fusion Collection in the coastal Vietnamese city of Hue. In total, Fusion operates 18 hotels with approximately 3,000 rooms in five brands. The company has a hotel development pipeline of approximately 2,000 rooms.
Fusion will expand into its third country when it opens the Fusion Resort Maldives on the atoll of Gaafu Dhaalu. The company signed a long-term management agreement in February with Real Asset Maldives to open the 185-key resort, scheduled for 2028.
Apart from its Vietnamese portfolio, Fusion has five hotels in Thailand.
SC Capital has various hotel interests, among them ownership of operator Hotel Management Japan and Topotels Hotels & Resorts, an Indonesian chain.
In total, SC Capital now has a portfolio of approximately 16,000 rooms, all in Asia. HMJ's share of SC Capital's portfolio is 26 hotels and more than 8,000 rooms.
SC Capital also is a principal sponsor of Japan Hotel REIT Advisors, which manages the largest listed hotel real estate investment trust in Japan by hotel value, according to the firm. The JHRA platform’s portfolio overall portfolio has 78 hotels and more than 22,000 rooms nationwide, all in Japan.