Hotels and resorts – Great potential for VN’s tourism in open-door era

Hotel Novotel Hà Nội on the Park	Vinpearl Land

Sheraton Saigon Hotel	Hồ Tràm Resort

This year, biggest real estate projects in Việt Nam have been launched at tourist centers. Canada’s Asian Coast Development Group invested more than US $4.2 billion in the Hồ Tràm Resort in Bà Rịa-Vũng Tàu Province, with a 5-star hotel, trade center, international convention center, office-apartment, high-class villas and a golf course.

In July the Kingdom Hotel Investment Group (KHI) officially sold its multi million dollar Raffes Residences apartments in Đà Nẵng.

In Phú Quốc Island, Hong Kong’s Starbay Holding company is considering pouring US $1.6 billion to build a 500-ha complex of resort, golf course and apartments.

Recently, the Accor group has just commenced construction of its 5^th hotel in Hà Nội - the Novotel Hanoi on the Park with 400 rooms.

Earlier, Việt Nam’s first 6-star hotel invested by the Vinpearl Trade and Tourism Joint Stock Company was groundbroken in Hòn Tre Island of Nha Trang City. Located within Vinpearl Land, the hotel will have two world-class Presidential suites, three deluxe villas, 125 standard rooms, a 3,200-square-meter swimming pool and an immense green area.

The Sheraton group is erecting its 3^rd world-class hotel in Việt Nam. With 30 floors and 280 rooms, Sheraton Hotel & Spa Nha Trang will offer the best facilities, including modern conference halls, spa, restaurants and fitness centers. The hotel is expected to be inaugurated by mid-2009.

Developers predicted Việt Nam’s thriving tourism, given the fact that the country has hosted many international events. They said that the country will surely become one of tourist attractions in the region and the world, stating that the flow of investment capital into luxurious hotels and resorts will help cater for wealthy visitors.

By Ngọc Vân