Vietnam has 21 hotels in the Michelin Guide's Key selection — 2 Three Keys, 4 Two Keys and 15 One Key — across 20 places, led by Hoi An with 2. 12 can be booked with points: 4 through IHG One Rewards, 4 through ALL – Accor Live Limitless, 2 through Hilton Honors, 1 through World of Hyatt and 1 through Marriott Bonvoy. The rest are cash-only independents, listed so the map is complete.


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Median points per night and cents-per-point value from AwardClaw's award tracking. Value is the cash rate divided by the points price, so higher is better; green means the redemption beats the program's usual value by a wide margin.
| Hotel | Keys | Program | Points / night | Value |
|---|---|---|---|---|
| Park Hyatt Saigon Ho Chi Minh City, Vietnam | Hyatt · Park Hyatt | 20,000 | 1.4¢/pt | |
| Namia River Retreat - Wellness Inclusive Resort Hoi An, Vietnam | Hilton · SLH | 90,000 | 0.8¢/pt | |
| InterContinental Danang Sun Peninsula Resort Da Nang, Vietnam | IHG · InterContinental Hotels | 81,000 | 0.6¢/pt |
20 places in Vietnam have at least one Key hotel. Cities with three or more get their own page.
Six Senses 2 · InterContinental Hotels 1 · Regent 1
~0.6¢ per point · Chase Ultimate Rewards and Bilt transfer to IHG at 1:1.
MGallery 2 · Banyan Tree 1 · Sofitel 1
fixed at 2¢ per point · Capital One and Citi ThankYou points transfer to ALL at 2:1.
SLH 2
~0.5¢ per point · Amex Membership Rewards transfer to Hilton at 1:2, with 1:2.
Park Hyatt 1
~1.7¢ per point · Chase Ultimate Rewards and Bilt Rewards transfer to World of Hyatt at 1:1, which is why Hyatt is the program most award travelers build around.
Autograph Collection 1
~0.7¢ per point · Amex Membership Rewards, Chase Ultimate Rewards and Bilt all transfer to Bonvoy at 1:1, so Marriott points are the easiest to top up in a hurry.
21: 2 Three Keys, 4 Two Keys and 15 One Key. They are spread over 20 places; Hoi An has the most with 2.
12 of the 21: Banyan Tree Lang Co., Sofitel Legend Metropole Hanoi, Park Hyatt Saigon, Namia River Retreat - Wellness Inclusive Resort, InterContinental Danang Sun Peninsula Resort, Hotel de la Coupole - MGallery, Jiva Hoa Lu Retreat and Legacy Mekong, Can Tho, Autograph Collection and more. By program: 4 through IHG One Rewards, 4 through ALL – Accor Live Limitless, 2 through Hilton Honors, 1 through World of Hyatt and 1 through Marriott Bonvoy.
Three Keys is the highest rating held in Vietnam, by Amanoi and Capella Hanoi. None of them take points.
Park Hyatt Saigon in Ho Chi Minh City, at a median of about 20,000 Hyatt points a night — 1.4¢ per point against the cash rate.
Hotel selection and Key ratings from the MICHELIN Guide hotel selection; points prices and value are AwardClaw's own observations of each program's award pricing and move with dynamic pricing. Program links reflect the loyalty program a property belongs to at the time of writing — partner portfolios (Mr & Mrs Smith, Small Luxury Hotels, Design Hotels) change, so confirm on the program's site before transferring points. AwardClaw is not affiliated with Michelin or any hotel group. MICHELIN is a trademark of its owner.