The government of Binh Dinh Province has given the nod to Kim Cuc Investment and Construction Co. Ltd. to develop the first five-star hotel in the central province.
According to the provincial Investment Promotion Center, the Kim Cuc hotel and tourism project will be carried out in the urban-trading-service area on An Duong Vuong Street in Nguyen Van Cu Ward in Quy Nhon City.
Covering an area of over 7,800 square meters, the project is expected to be developed within two years after the investor gets an investment certificate. It costs around VND300 billion (US$13.7 million).
Binh Dinh Province has a limited number of four-star hotels. So the province will give priority to the five-star hotel and other large-scale projects in the tourism and service sector, according to the investment promotion center.
The province looks to 2.5 million visitors with tourism revenue of VND1 trillion this year. Last year, nearly 2.1 million tourists came to the province, up 23% against 2013.
There are 133 hotels and guesthouses in Binh Dinh Province, including five four-star hotels and one three-star hotel with more than 3,000 rooms.