Vietnam, U.S. Firms Build US$140M Resorts
The Saigon Invest Group (SGI) and the U.S.-based Starwood Hotels and Resort Worldwide Incorporation Starwood on June 9 signed an agreement to build two five-star resorts valued at US$140 million central Danang city and Central Highlands Dalat city.
The investors will pour US$100 million to build Le Meridien Danang Resort & Spa in Danang city. The resort will cover 8.4 hectares in Ngu Hanh Son district and will have 330 rooms.
They will invest US$40 million to build Sheraton Da Lat Resort & Spa. The 200-room resort, to be located on an 18-hectare site, will have high-end villas and modern facilities.
SGI said construction on the resorts will be kicked off in 2010 and is slated to finish in 2013.
Starwood Hotels and Resort Worldwide Incorporation, the world leading firm in hotels and entertainment businesses, now manages 750 guesthouses and hotels worldwide with 145,000 staffs. Its total assets reach US$14 billion. (Investment, Saigon Liberation)
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