Investment management group VinaCapital has chosen world-renowned luxury hotel operator Marriott International to manage its new five-star hotel and resort scheduled to open in central coastal Da Nang city in 2011. 
 

The two sides signed a long-term management agreement in Ho Chi Minh City on Sept. 15.

The five-star hotel and resort with 271 rooms has an investment capital of 60 million USD.

It is part of a 260 ha complex which includes villas and a golf course. In the next phase, VinaCapital plans to add a residential area, an exhibition and conventional centre, a trade centre and two medium-range hotels.

Ed Fuller, Marriott International President and Managing Director of International Lodging, said he is excited to be part of the emergence of Vietnam’s central coast as an important global leisure travel destination with what promises to be a premier example of the company’s luxurious JW Marriott hotel brand.

VinaCapital is a leading investment management firm in Vietnam with four funds. It is currently managing property worth over 1.9 billion USD.

(Source: VNA)