Four Points by Sheraton and Sheraton Halong Bay will open in northeastern region of Vietnam in 2008 and 2010
SINGAPORE, May 22 /Xinhua-PRNewswire/ -- Starwood Hotels & Resorts Worldwide, Inc. (NYSE: HOT) today announced that it has reached an agreement with Royal International Corporation to develop two hotels in the World Heritage site of Halong Bay, Vietnam : Sheraton Halong Bay Resort and Four Points by Sheraton Halong Bay. The 160-room Four Points by Sheraton hotel is expected to open in early 2008 and the 300-room Sheraton Halong Bay Resort will open in 2010. The Four Points by Sheraton Halong Bay will also be the first Four Points by Sheraton hotel to open in Vietnam. Starwood currently operates Sheraton Saigon Hotel & Towers and Sheraton Hanoi Hotel in Vietnam.
The two-hotel project further strengthens the position of Starwood as one of the largest international upscale hotel chains in the Thailand and Indochina region (Vietnam, Cambodia and Laos). Starwood currently operates 13 hotels in the region, with 11 more under development in Bangkok, Chiang Mai, Chiang Rai, Pattaya, Hua Hin, Koh Samui, Angkor and now Halong Bay.
"Starwood is excited to bring two of its renowned brands to the fast-growing Indochina region. The Sheraton and Four Points by Sheraton brands each bring to life their own distinct brand positionings, delivering a differentiated travel experience for travelers,” commented Miguel Ko, President of Starwood Hotels & Resorts, Asia Pacific. “Vietnam is amongst the fastest growing nations in Southeast Asia and in the world, with GDP growth anticipated at 7.1% and tourism growth at 20%. Since early this year, about 1.462 million foreign tourists have visited Vietnam, up about 12.5% from the previous year. We also expect Vietnam’s entry into World Trade Organization (WTO) to drive leisure and business travel into the country as it gains international prominence. The growing demand presents to us tremendous opportunities as the first international upscale hotel group to debut in Halong Bay, a popular tourist destination in Vietnam,” added Ko.
Halong Bay is located in northeastern part of Vietnam and consists of a cluster of 1969 limestone monolithic islands which rise from the ocean along a 120 kilometer coastline, forming a spectacular seascape of limestone pillars. In 1994, UNESCO recognized it as a World Heritage site for its geographical and geomorphologic values, confirming the global premier value of H-long Bay. Halong Bay is also attached to the glorious pages of Vietnamese history and home to the great biodiversity with typical eco-systems like mangrove forest, coral and tropical forests. Halong Bay is also popularly known as the film site for the James Bond movie “Tomorrow Never Dies” and was also featured on Amazing Race 10 in 2006. Halong Bay is approximately 170 km east of Hanoi, the capital city of Vietnam (approximately 2.5 hours by car).
Four Points by Sheraton Halong Bay’s facilities will include 160 rooms, 4 restaurants and lounge, 2 meeting rooms, a gym, spa and indoor swimming pool. Sheraton Halong Bay Resort will feature 300 rooms, with 4 restaurants and lounge, a gym, outdoor pool and spa, as well as over 1,500 square meters of meeting space. Both hotels will be developed on a 12 hectare site, which is slightly undulating and gently sloping upwards, offering guests breathtaking views of Halong Bay.
Starwood Hotels & Resorts Worldwide
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with approximately 850 properties in more than 95 countries and 145,000 employees at its owned and managed properties. Starwood(R) Hotels is a fully integrated owner, operator and franchisor of hotels and resorts with the following internationally renowned brands: St. Regis(R), The Luxury Collection(R), Sheraton(R), Westin(R), Four Points(R) by Sheraton, W(R), Le Méridien(R) and the recently announced aloftSM and ELEMENTSM Hotels. Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit http://www.starwoodhotels.com .
(Note: This press release contains forward-looking statements within the meaning of federal securities regulations. Forward-looking statements are not guarantees of future performance or events and involve risks and uncertainties and other factors that may cause actual results or events to differ materially from those anticipated at the time the forward-looking statements are made. These risks and uncertainties are presented in detail in our filings with the Securities and Exchange Commission. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained or that results and events will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.)
