Halong Hotel Vietnam

Halong Bay- Vietnam: The country's largest and most modern hotel will be constructed on the beach of Bai Chay in Halong City.

According to Ha Quang Long, deputy general director of Hoang Gia International Joint Stock Co, the hotel's developer, the construction aims to address a significant shortage in the supply of high-quality hotels and guest houses in the resort area, especially five-star hotels.

The new five-star hotel, which will have 707 rooms, will be built with a total investment capital of USD51.4 million. Construction is expected to begin earlier 2007, with the hotel to open in 2008.

The resort complex aims to become the cultural and tourism centre for the Halong City area. It will also include an USD 8 million, 1,200-seat theatre, and a 14,000m² trade centre.

To finance the project, Hoang Gia International Joint Stock Co is expected to offer about 5.5 million shares next month at a face value of VND 150,000 (USD 9.42) per share.

Currently, the Halong City-Bai Chay area has 10,000 guest rooms, of which about 1,600 are considered high-quality rooms. The average occupancy is 80% and reaches 100% during festival and holidays.

With the current growth in tourism, the shortage of rooms in Halong City is expected to become greater, said Tran Tuan Anh, deputy director of the Vietravel representative office in Hanoi.

The city now has 359 hotels and guest houses with 6,325 rooms altogether, including eight four-star hotels, 10 three-star hotels, 21 two-star hotels and 183 guest houses.

(Source: VNA)