The Grand Ho Tram Strip casino resort held a ground breaking ceremony on Thursday for what it says is a new 35-hectare [86.5-acre] development at the complex “with a total investment of over US$1 billion”.
The project will feature a “five-star hotel, luxury resort villas, entertainment amenities, and an international convention and exhibition centre,” said the property’s promoter in an update on social media network LinkedIn.
“With more than 6,000 rooms and an estimated daily guest capacity of 18,000,” the development is a collaboration between Lodgis Hospitality Holdings and VinaLiving, the latter the real estate development brand of Vietnam-based investment manager VinaCapital.
The update cited Walt Power, chief executive of The Grand Ho Tram, as saying: “We firmly believe Ho Tram will not only be Vietnam’s leading integrated resort destination but will also be able to compete with top regional destinations such as Singapore, Manila, and Macau, particularly as we work closely with authorities at all levels to explore new growth drivers.”
The ground breaking ceremony was attended by senior government officials, industry leaders, and project partners, according to the announcement.
The major investor in The Grand Ho Tram – which has a foreigner-only casino – is U.S.-based private equity firm Warburg Pincus LLC. The beachside project is in Ba Ria, Vung Tau, in southern Vietnam.
Lodgis Hospitality Holdings is a joint venture between Warburg Pincus and VinaCapital.
The complex launched in 2013 with hotel accommodation and a casino. The resort’s The Bluffs Grand Ho Tram golf course, designed by golf legend Greg Norman, opened in 2014.
The resort’s update stated of the newly-announced phase: “This milestone marks the next step in The Grand Ho Tram’s master plan to expand its footprint to 164 hectares and reaffirms its pioneering role in shaping the future of luxury tourism and hospitality in the region.”
