Holiday Inn Resort opens in Vietnam

The Grand Ho Tram in Vietnam will open its new Holiday Inn Resort on January 15, 2022.

According to InterContinental Hotel Group, the resort is the brand’s first entry into Vietnam.

The new 561-room property, owned by InterContinental Hotel Group, was originally scheduled to launch in mid-July 2021, but has been postponed due to Covid-related travel restrictions.

Located on the southeastern coast of Vietnam near Ho Chi Minh City, the first phase of the new Grand Ho Tram location cost around $ 600 million and includes a foreign-only casino with more than 90 tables.

The tower also offers new restaurants and a range of entertainment options, including an outdoor park, bowling alley, golf simulator and more.

A second hotel is in the pipeline; when completed, this will bring the total number of bedrooms to 1,100.

The complex was developed by the Ho Tram Project Company. A controlling stake in the property’s operating entity, Asian Coast Development, was purchased by U.S. private equity firm Warburg Pincus in 2019.

Warburg Pincus has been a private partnership focused on private equity since 1966 and has invested more than $ 97 billion in more than 960 companies in the retail, industrial manufacturing, energy, financial services, healthcare , technology, media and real estate.

The company operates from 14 offices in 10 countries.

Warburg Pincus invests in companies at all stages of development, from start-ups (to support the growth of new businesses) to complex recapitalizations or large-scale buyouts of more mature companies.

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