There’ll be more than just one new luxury hotel in Saigon, as hotel group Far East Hospitality has revealed that they’ll be expanding into Vietnam with two new boutique hotels to open by the end of 2019, with additional plans for expansion for the next couple of years following that.
Currently, the company operates 90 hotels and serviced residences spread across 7 countries; Australia, Denmark, Germany, Malaysia, New Zealand, Hungary and Singapore, encompassing brands like Oasia, Rendezvous, Quincy, as well as Village and Vibe Hotels.
The group’s expansion into Vietnam and the creation of not one luxury hotel in Saigon, but two, comes as part of a deal with real estate developer Five Elements Development, for the management of the Le Cong Kieu Hotel, and the Ngo Van Nam Hotel, the former to have 56 rooms, the latter to have 30.
The properties are currently under development, with the Le Cong Kieu Hotel placed 20 minutes from Tan Son Nhat International Airport by car, while the Ngo Van Nam Hotel will be located 15 minutes worth of driving from the Saigon Railway Station.
Far East Hospitality will be acting as a consultant throughout the whole development of the projects, providing advice during designing, planning, and construction.
Far East Hospitality CEO Arthur Kiong made a statement on their latest projects, saying that Vietnam is one of the fastest-growing tourism markets, not just in Asia, but across the world, with the country’s international arrivals increasing annually by double digits, like clockwork. He also noted that Vietnam is currently aiming to have 20 million foreign visitors coming in by 2020.
Kiong says that, given the growth that looks to be in the future for Vietnam, the partnership with Five Elements as a timely, strategic, and profitable one, one that’ll benefit Far East Hospitality as well as the country’s hospitality industry at large.
The Singaporean hotelier is making a bet on the country’s growing tourism market, and also has plans to have 1,000 units spread across Vietnam within the next half-decade, spread across key cities in the country, like Hanoi and Ho Chi Minh City.