Trip.com Invests in Vietnamese Boutique Accommodation Brand M Village, Valuation Tops $120 Million

The Vietnamese accommodation market has recently seen another notable funding round. M Village, a Vietnamese boutique homestay brand co-founded by Nguyễn Hải Ninh, has just completed a new financing round of $26 million, with investors from both Japan and China. More notably, the company’s valuation has surpassed $120 million, more than doubling from its previous round.

For a relatively young Vietnamese accommodation enterprise, this funding is not just about opening more locations. M Village is gradually transitioning from its original serviced apartment model towards a multi-brand accommodation business encompassing hotels, resorts, and extended-stay apartments.

$26 Million Influx, Japanese Capital Joins as New Shareholder

This $26 million financing round was led by Mizuho Asia Partners, a subsidiary of Japan’s Mizuho Financial Group, which invested $18 million through Grand Mia Pte. Ltd. Existing shareholder Trip.com Group from China added an additional $8 million. The investment was priced at $9.00 per share, compared to the previous price of $4.96 in March 2025. Following the completion of the investment, the company’s post-money valuation reached $120 million, up from approximately $52.5 million in the previous round, representing more than a doubling in value over the past year.

Nguyễn Hải Ninh — Founder of M Village, Source: https://cafef.vn/

From Serviced Apartments to 53 Locations in 4 Years

Founded in 2020, M Village initially focused on modern serviced apartments catering to both short-term and long-term rental clients. Beyond accommodation, the company also incorporated workspaces, dining, wellness services, and community activities. The first location opened in 2022, and by 2026, the network had expanded to 53 locations across Vietnam.

In 2025, M Village also secured an unsecured credit facility of VND 100 billion ($580,000) from Orient Commercial Joint Stock Bank (OCB), a relatively uncommon feat for a Vietnamese startup.

M Village short-term rental single suite space. Source: https://forbes.vn/

The Real Focus: Can M Village Transform from a “Brand” into a “Platform”?

What truly warrants attention regarding this $26 million financing is not merely that M Village has secured more expansion capital. It signifies that even as international brands like Marriott, Accor, and Hilton continue to enter Vietnam, there remains a distinct growth path for local Vietnamese hotel brands.

Some existing brands under Modern Village Lifestyle. Source: https://thanhnien.vn/

Rather than competing with international brands on luxury and standardization, M Village has carved its niche by targeting young urban Vietnamese, local lifestyle preferences, and medium-to-long-term stay needs. It further aims to cover hotels, apartments, resorts, and various price points through its multi-brand strategy.

The Japanese-led investment, coupled with continued backing from Trip.com, essentially prices and validates this model of local operational capability combined with international capital.

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