InterContinental Hotels Group is increasing its presence in Vietnam through the signing of two Holiday Inn Resorts.
An agreement with Lucky Star Joint Stock Company to manage Holiday Inn Resort Phu Quoc Duong Dong Beach, and another with Thinh Vuong Joint Stock Company to manage Holiday Inn Resort Cam Ranh Bay increases the momentum of IHG’s growth in Vietnam.
Jan Smits, Managing Director, IHG Asia Australasia, said, “Emerging markets like Vietnam represent solid, long-term growth opportunities, especially with the rise in low-cost carriers and routes, which have helped to fuel regional travel in Asia Pacific. Vietnam is forecasting a 35% increase in visitor arrivals compared to last year. And the government’s commitment to improving infrastructure and developing new tourist destinations, such as Phu Quoc, will also increase the appeal of Vietnam as a destination.”
Phu Quoc is an island that lies west of the mainland. With tropical weather and 45 kilometres of pristine beaches, it has found a place on TripAdvisor’s “2010 Top 10 Beach & Sun Destinations in Asia” and it was also voted by CNN as a “Top 5 Next Generation Asian Tourist Hotspot”.
Holiday Inn Resort Phu Quoc Duong Dong Beach sits on a 3-hectare beachfront site and will have 250 rooms. Construction will begin in August 2011 and the resort is expected to open in mid 2014.