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Agreement with Lucky Star Joint Stock Company

IHG adding two new Holiday Inn resorts in prime Vietnam beachfront locations

IHG (InterContinental Hotels Group) is increasing its presence in Vietnam with the signing of two Holiday Inn Resorts. An agreement with Lucky Star Joint Stock Company to manage Holiday Inn Resort Phu Quoc Duong Dong Beach, and another with Thinh Vuong Joint Stock Company to manage Holiday Inn Resort Cam Ranh Bay increases the momentum of IHG’s growth of Vietnam’s new tourism hotspots.

Said Jan Smits, Managing Director, IHG Asia Australasia, "Emerging markets like Vietnam represent solid, long-term growth opportunities, especially with the rise in low-cost carriers and routes, which have helped to fuel regional travel in Asia Pacific. Vietnam is forecasting a 35% increase in visitor arrivals compared to last year. And the government’s commitment to improving infrastructure and developing new tourist destinations, such as Phu Quoc, will also increase the appeal of Vietnam as a destination."

Phu Quoc is an island that lies west of the mainland. With tropical weather and 45 kilometres of pristine beaches, it has found a place on TripAdvisor’s "2010 Top 10 Beach & Sun Destinations in Asia" and it was also voted by CNN as a "Top 5 Next Generation Asian Tourist Hotspot".

Holiday Inn Resort Phu Quoc Duong Dong Beach sits on a 3-hectare beachfront site and will have 250 rooms. Construction will begin in August 2011 and the resort is expected to open in mid 2014. This will dovetail with the government’s expansion plans for Phu Quoc, which includes a new international airport, a seaport and various entertainment facilities. The airport is scheduled to be operational by 2012.

Said Mr. Long Le Ngoc, Chairman of LongBeach Group, which owns Lucky Star Joint Stock Company, "We foresee strong demand for quality accommodation in Phu Quoc, as this is a destination with all the attributes of a tourist paradise. Together with the strength of the Holiday Inn brand and its world renowned standards, we will be able to offer travellers what they are looking for."

And on the south-eastern coast of Vietnam, about 350 km from Ho Chi Minh City, is Cam Ranh Bay, which is known for its white sandy beaches. The site for Holiday Inn Resort Cam Ranh Bay has 170m of this beach frontage. The resort will have about 250 rooms and occupy 70,000sqm of the 174,227sqm plot of land, which will also feature high-end residential and commercial properties.

Construction is slated to begin in June 2011 and the resort is expected to open in the third quarter of 2013. Holiday Inn Resort Cam Ranh Bay will be a convenient location for travellers as it is only 15 minutes from Cam Ranh International Airport and a 40-minute drive from the Nha Trang city centre.

Cam Ranh Bay is foreseen to be a new holiday destination in compliment with Nha Trang. Previously utilized as a military base, Cam Ranh is now being planned to be exclusively a vacation spot.

Said Mr Tran Viet Dzung, President and CEO of ESACO Corp, which has interests in Holiday Inn Resort Cam Ranh Bay’s owning company Cong Ty Co Phan Thinh Vuong, "The Holiday Inn brand is recognised by travellers worldwide. The brand’s enduring popularity and its large customer base are aligned with our expectations of attracting the growing number of holidaymakers who come to Cam Ranh Bay."

Holiday Inn Hotels & Resorts was recently voted the Best Mid-Market Hotel Brand in the World and the Best Mid-Market Hotel Brand in Asia Pacific for the tenth consecutive year. There are currently 1,301 Holiday Inn Hotels & Resorts globally, including 104 in Asia Pacific. There are 80 more in the pipeline for Asia Pacific.

Other IHG hotels in Vietnam include InterContinental Hanoi Westlake, InterContinental Asiana Saigon and Crowne Plaza Hanoi West. IHG is looking to increase its presence in Vietnam and has plans to add close to 5,000 new jobs as new hotels open in the next few years.

InterContinental Hotels Group (IHG) is the world’s largest hotel group by number of rooms. IHG franchises, leases, manages or owns, through various subsidiaries, over 4,500 hotels and more than 650,000 guest rooms in 100 countries and territories around the world. The Group owns a portfolio of well-recognised and respected hotel brands including InterContinental® Hotels & Resorts, Hotel Indigo, Crowne Plaza Hotels & Resorts, Holiday Inn Hotels and Resorts, Holiday Inn Express, Staybridge Suites and Candlewood Suites. We also manage the world’s largest hotel loyalty programme, Priority Club Rewards with 52 million members worldwide.

IHG has over 1,200 hotels in its development pipeline which we expect to create 160,000 jobs worldwide over the next few years. InterContinental Hotels Group PLC is the Group’s holding company and is incorporated in Great Britain and registered in England and Wales.