Distinctive Developments for a Sustainable Future

Delivering value-driven hospitality and commercial real estate projects across Vietnam.
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About Us

Five Elements develops distinctive, high-quality hospitality and commercial assets across Vietnam. Led by an experienced owner-developer team with a proven record, the company delivers projects that compound long-term investor value, strengthen market positioning, and support sustainable growth. Founded in 2017, Five Elements is a privately held platform with end-to-end capabilities in sourcing, development, operations, and exits.
25+

Investments

30

Years in Market

10

Developed Projects

Our Competitive Advantages

Veteran leadership, <br>proven delivery

Veteran leadership,
proven delivery

30+ years in Vietnam hospitality and real estate, blending an owner-developer mindset with institutional investment rigor.

Full-cycle execution—entitlements to construction, opening, and exit—driving disciplined product, cost, and schedule.

Brand &<br>Operator Relationships

Brand &
Operator Relationships

Direct access to tier-one international flags built through prior ownership/management engagements.

Faster brand selection and balanced HMAs/TPAs, supporting quicker ramp-up and stronger ADR/RevPAR.

Capital & <br>Deal Structuring

Capital &
Deal Structuring

Institutional underwriting and JV structuring for foreign capital.

Disciplined capital allocation and governance to de-risk execution.

Development & Approvals

Development & Approvals

Deep working ties with authorities, designers, and contractors, accelerating permission.

Rigorous delivery management—from designing to operator handover—on time and on budget.

Why invest in Vietnam Hospitality

AI-Driven Travel Boom

Productivity gains and flexible schedules are expanding leisure time, lifting trip frequency and length of stay; Vietnam’s short-haul access and value-for-money position it to capture this demand.

Strategic short-haul access from North Asia

Vietnam’s location within 3–5 hours of China, Korea, and Japan positions it is ideal for repeat leisure. Da Nang recorded 1.0M+ Korean arrivals by Aug 2025, with Koreans making up ~41% of 2024 international visitors. 

Growing middle & upper classes boost local travel

Vietnam counts 5,459 HNWIs and 752 UHNWIs (+2.4% YoY); the middle class is projected at ~26% of the total population by 2026 (vs ~13% in 2023), supporting premium domestic travel spend.

Strong tourism growth

Vietnam welcomed 17.5M international arrivals in 2024 (+39.5% YoY) and 13.9M in Jan Aug 2025 (+21.7% YoY); hotel performance is improving with national RevPAR up ~15–17% YoY in 2024–25.

Our Partnership

Richmond Mayo-Smith
With an over 20-year track record in Vietnam real estate, the principals are an established partnership. That depth shows up in execution certainty, aligned governance, and a ready network of brands, lenders, contractors, and agencies.

Richmond Mayo-Smith

Co-Founder

Our Partners

Our Partnership
Our Partnership
Our Partnership
Our Partnership
Our Partnership
Our Partnership
Our Partnership
Our Partnership