3:47:44 PM | 17/9/2008
Investment Management Group VinaCapital has chosen U.S.-based leading luxury hotel operator Marriott International to manage its new five-star hotel and resort scheduled to open in central coastal Danang city in 2011, the Thanh Nien newspaper reported Tuesday.
To this effect, the two sides signed a long-term management agreement in Ho Chi Minh City Sept 15.
The five-star hotel and resort with 271 rooms has an investment capital of US$60 million. It is part of a 260-hectare complex which includes villas and a golf course.
In the next phase, VinaCapital plans to add a residential area, an exhibition and conventional centre, a trade centre and two medium-range hotels.
“I am excited to be part of the emergence of Vietnam’s central coast as an important global leisure travel destination with what promises to be a premier example of the company’s luxurious JW Marriott hotel brand,” Ed Fuller, Marriott International President and Managing Director of International Lodging, said.
Marriott International now runs two hotels in HCM City namely Renaissance Riverside Saigon and New World, he added.
VinaCapital is a leading investment management firm in Vietnam with four funds. It is currently managing property worth over US$1.9 billion. (Local sources)
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