The agreement allows Marriott to manage its third JW Marriott properties in Vietnam with the 320-room JW Marriott Vinh Hoi Bay Resort & Spa, and its member company Ritz-Carlton to mark its first presence in Vietnam market with the Ritz-Carlton Reserve designed with 100 luxury villas in the Vinh Hoi Bay Golf Resort complex in Binh Dinh Province.
Construction of both properties is expected to begin in early 2012.
"We are delighted with this visionary opportunity to further expand our lodging portfolio in Vietnam," Edwin Fuller, president and managing director of international lodging for Marriott International, said in a statement sent the Daily on Tuesday. These resorts, he added, will be among the best, most luxurious properties in Asia.
In another resort, Outrigger enters the local market with a five-star Outrigger Vinh Hoi Bay Resort and Spa which is designed with 210 guest rooms and suites, plus a collection of 46 private villas. The resort will begin construction next year and is scheduled for competition in late 2013.
"We have no doubt that the Vinh Hoi Bay Golf Resort in partnership with these hotel operators is positioned as a premier international luxury destination resort, adding a significant milestone to the Vietnam tourism industry," said Tran Duc Canh, chairman and chief executive officer of the Vietnamese-American Hotel and Resort Co, a wholly-owned subsidiary of American firm ITC Spectrum, LLC.
The 325-hectare Vinh Hoi Bay Golf Resort, stretching some three kilometers along the coast, is some 25 kilometers north of Quy Nhon in Binh Dinh province. The centerpiece of the development is an 18-hole golf course designed by Robert Trent Jones II of California.
The company said it would set aside US$250 million for the first phase development that will include three resorts, residential villa communities, a retail center, a culture and entertainment center, and a tropical garden.
Later phases of the development will feature three additional hotels and residential properties, as well as an equestrian center and marina. The entire project construction is scheduled for completion by 2015.
The company currently manages two properties in the country, including the Renaissance Riverside Saigon and the New World Hotel Saigon in HCMC. Four additional properties are currently planned or under construction in Vietnam. They include the 250-room Nha Trang Marriott Hotel and the 200-room Courtyard by Marriott Ham Tan, both of which are scheduled to open in 2013. The 450-room JW Marriott Hotel Hanoi and the 271-room JW Marriott Danang Resort are expected to open in 2014.