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12 June 2009
US hotel chain to develop 2 resorts in Vietnam
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US-based Starwood Hotels & Resorts Worldwide Inc and Vietnam’s Kinh Bac Corp have signed an agreement to jointly develop two five-star resorts worth $140 million in Vietnam, Dow Jones Newswire quoted the Ministry of Planning and Investment as saying Wednesday.

The companies will build the $100-million Le Meridien Danang Resort & Spa on 8.4 hectares of land in the central coastal city of Danang, 760 kilometers south of Hanoi, the ministry said in a statement.

They will also build the $40-million Sheraton Dalat Resort & Spa on 18 hectares in the tourist city of Da Lat, 300 kilometers northeast of Ho Chi Minh City, it added.

In a related story,, a Vietnamese online news website, reported that the 330-room Le Meridien will come up on Son Tra – Dien Ngoc Street in Da Nang and the Sheraton will have 150 to 200 rooms and will be located at the centre of Da Lat.

Work on the two properties is expected to start next year and finish in 2013.




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