Wafaifo Hospitality in Vietnam has announced the expansion of its services with the signing of a new agreement with its founding partners.

The deal paves the way for Wafaifo Hospitality to provide management and consultancy services to hotels, retail, and wellness projects.

These are anticipated to include the company’s developments, as well as third-party tourism and lifestyle investors who plan to develop new hospitality businesses across Vietnam, Cambodia, Laos, and Thailand.

The agreement was formalised in Tam Ky of Quang Nam province by the founding partners, Quang Nam Water Drainage Supply Joint Stock Company general director Ngo Duc Trung and Quang Nam Wafaifo Hotel Joint Stock Company managing director Pieter van der Hoeven.

Ngo Duc Trung said: “The tourism and hospitality sector in Vietnam and Indochina has huge untapped potential. Wafaifo Hospitality offers expert operational and marketing experience to help us realise that potential on behalf of investors, partners, tourists and Vietnamese residents.”

The first initiative under this partnership is the launch of the 134-key Wafaifo Resort Hoi An, which is set to open on 11 October.

The Wafaifo Resort Hoi An will feature an array of food, drink, and entertainment options, as well as technology-driven wellness treatments.

Situated within a ten-minute walk from Hoi An's UNESCO heritage area, the urban lifestyle resort will also feature the "TASTE by Wafaifo" brand and a Swim City.

Under the agreement, Wafaifo Optimisers will serve as the company’s strategic consultant for third-party hospitality development projects in the region.