InterContinental expands business in Vietnam

The InterContinental Hotels Group (IHG) signed a cooperation deal with the Lucky Star Joint Stock Company and the Thinh Vuong Company to expand business in Vietnam.
Accordingly, IHG will manage two resorts – Phu Quoc Holiday Inn Resort and Cam Ranh Holiday Inn Resort – with investment by Lucky Star and Thinh Vuong companies.
IHG managing director in the Asia-Pacific region, Jan Smits, said emerging markets like Vietnam promised a long-term and stable growth. Increasing in aviation services and cheap flights will also help develop regional tourism markets.
The number of arrivals to Vietnam in 2010 was forecast to rise by 35 percent compared to 2009. Another factor helping promote tourism development in the country is the Government’s commitment to improving infrastructure and develop new destinations, such as Phu Quoc Island.
The Duong Dong Holiday Inn Resort on Phu Quoc Island will cover 3ha with 250 rooms. It will begin construction in August 2011 and be put into operation in the middle of 2014.
The Cam Ranh Holiday Inn Resort will begin construction in June 2011 and start operation in the third quarter of 2013. It will take 15 minutes to go from the airport to the resort and 40 minutes from the resort to Nha Trang city’s centre.
Holiday Inn Hotels and Resorts have been chosen as the best hotel and resort in the world over the past 10 years. IHG now has 1,301 hotels and resorts in the world, including 104 in the Asia-Pacific region.
IHG also manages other hotels in Vietnam, such as the West Lake InterContinental and Crowne Plaza in Hanoi and InterContinental Asiana Sai Gon. The group planned expanding business in Vietnam and to generate nearly 5,000 jobs at new hotels in the future.