Hotel operator Wyndham Hotels and Resorts Inc says it will open “in late 2019” a Ramada-branded hotel at the Ho Tram Strip, a beachside Vietnam casino resort and real estate project.
The Ramada brand will be part of a new phase of the Ho Tram Strip, a scheme developed by Ho Tram Project Co Ltd. The entity is a wholly-owned subsidiary of the overall scheme’s promoter, Asian Coast Development Ltd.
The first phase of the Ho Tram Strip – known as The Grand casino resort and featuring a 541-room hotel, opened in July 2013. In October 2015, the Ho Tram Strip opened The Bluffs, an 18-hole golf course designed by golfer Greg Norman. In a release in December, the developer of the Ho Tram Strip said it had “over US$1.1 billion” in “deployed and forward-deployed capital”.
“The Ramada brand is renowned in the hotel industry for exceptional service, making it the perfect partner for our world-class project,” said Michael Kelly, executive chairman of the Ho Tram Project, in a prepared statement included in a Monday release.
“We look forward to working together with Wyndham Hotels & Resorts as we prepare for our opening late next year,” added Mr Kelly.
The Ramada property currently under construction at the Ho Tram Strip was described in the release as a “upper-[end], mid-scale seafront hotel”. The new hotel tower (pictured in a rendering) will be 12 storeys high and offer 198 rooms, including 36 three-bedroom villas.
“Vietnam is one of the world’s most dynamic tourism destinations … To cater for this strong demand, impressive new developments are rising all across the country, including the Ho Tram Strip,” said Joon Aun Ooi, president and managing director of Wyndham Hotels and Resorts for South East Asia and Pacific Rim, as quoted in Monday’s release.
The hotel operator said it considered Vietnam a “key focus market”. The company, which currently operates the Wyndham Legend Halong Bay, plans to open six new hotels and resorts under its Wyndham Grand, Wyndham, and Wyndham Garden brands over the next three years, according to the release.
May 16, 2022A cut of 5 percentage points in the tax levied on Macau gross gaming revenue (GGR “would be equivalent to a 12 to 15 percent boost” to estimated industry earnings before interest, taxation,...
”Any reduction in [Macau gaming] tax would be positive for future profits and cash flows, all else equal”
DS Kim, Amanda Cheng and Livy Lyu
Analysts at brokerage JP Morgan Securities (Asia Pacific)