The Saigon Investment Group (SGI) and US-based Starwood Hotels & Resorts Worldwide signed an agreement on June 9 putting into action two tourism projects with a combined investment capital of USD140 million in central Danang City and the Central Highlands province of Lam Dong.
The Le Meridien Danang Resort & Spa will be built at a cost of USD100 million and will comprise a complex of high-end apartments and villas together with a five-star hotel on Son Tra-Dien Ngoc Road in Ngu Hanh Son District, Da Nang City.
Once completed, the resort will connect Ngu Hanh Son with three world cultural heritage sites, including Hue - the former capital, Hoi An Ancient Town and My Son Sanctuary.
Meanwhile, one of the country’s largest tourism centres will be built on a site of 18ha in Dalat City. The USD40 million Sheraton Dalat will include 150-200 first class rooms for those who want to take a break in the dreamlike Central Highlands city.
SGI General Director Dang Thi Hoang Phuong said that the two projects heralds SGI’s arrival in the tourism sector and will help to meet domestic needs and the increasing demand from foreign tourists for top quality tourist facilities.
SGI is one of the country’s leading groups in developing industrial zones and hi-tech parks as well as other sectors, including real estate, IT-telecoms-television, finance-banking, tourism, construction and energy.
SGI now owns and manages 20 industrial zones and hi-tech parks with a total investment of over USD2 billion.
SGI’s partner, Starwood Hotels & Resort Worldwide, one of the world’s leading groups in the entertainment and hotel business, boasts a network of 940 hotels and resorts in 97 countries throughout the world.