U.S. Firm to Develop Resorts in Danang and Dalat
Jun. 9 – American hotel and leisure company, Starwood Hotels and Resorts Worldwide, has partnered with Saigon Invest Group to built two resorts in Danang City and Dalat town.
These projects will include a 330-room Le Meridien Danang Resort and Spa on more than 8.4 hectares of land. The project will have an investment capital of US$100 million. The Sheraton Dalat Resort and Spa, on the other hand, will be spread over 18 hectares with more than 150 rooms at a cost of US$40 million.
Starwood has partnered with the Kinh Bac Corporation, an affiliate of Saigon Invest Group and an investor in industrial parks, tourism and household properties.
The Saigon Invest Group has a total capital of VND3,000 billion while also managing 20 industrial and hi-tech parks nationwide.
Meanwhile, Starwood is a major global brand in the luxury business with a total asset base of US$14 billion and with 520 hotels under its belt including Sheraton, Le Meridien, St. Regis, the Luxury Collection, W Hotel, and Westin. It manages 250 hotels in the Asia and has 103 projects in the works.