The blaze started at 10:30 at the Avatar complex located at 28 Nguyen Sy Sach street in Vinh city, Nghe An province. The building is directly beside a local hospital. As the fire grew, people were forced to flee in panic. Black smoke could be seen billowing from the building into the sky. As the inferno strengthened, a number of people were left stuck inside the building. Fire services rushed to the scene to tackle the blaze as soon as the alarm was raised. The result of the fire left a female member of staff dead. According to local authorities, construction of the Avatar complex has yet to be completed. Fire crews battled to bring the blaze under control. Fire fighters were forced to have lunch in a hurry. Crews fought the inferno until 14:00 when it was finally extinguished. The entire premises was damaged in the incident. The police are investigating the cause of the fire. The blaze started at 10:30 at the Avatar complex located at 28 Nguyen Sy Sach street in Vinh city, Nghe … [Read more...] about One dead as fire engulfs hotel in Vinh City
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All 5-star luxury hotels in Ha Noi have run out of room ahead of the second DPRK-USA Summit, taking place Wednesday and Thursday in the capital city. Most three-five star hotels in urban districts are booked up until the end of February. The major five-star hotels including the Hilton Hanoi Opera, Hanoi Daewoo Hotel, Melia Hanoi, Sheraton Hanoi Hotel, InterContinental Hanoi Westlake, Hotel de l’Opera Hanoi, Apricot Hotel, Crowne Plaza West Hanoi, Sofitel Legend Metropole Hanoi and JW Marriott Hotel Hanoi, revealed they had no vacancies until March. “All of our rooms are occupied from now until the end of March. During the DPRK-USA Summit, the entourages following have booked to stay here. One group even booked more than 100 VIP rooms for before and after the event,” a representative of the Ha Noi Daewoo Hotel told a local newspaper. “After the Lunar New Year, we still had rooms available. However, right after Ha Noi was officially selected as the venue for the … [Read more...] about Luxury Hotels in Ha Noi fully booked ahead of Trump-Kim Summit
VietNamNet Bridge - 2018 continues to be a prosperous year for hotels, especially high-end ones, in HCM City. The average occupancy rate has been 80-90 percent, and the profit to revenue ratio at least 20 percent. 2018 continues to be a prosperous year for hotels Some high-end hotels in HCM City had occupancy rates of 90 percent last week. The 5-star Rex Hotel, for example, announced it would not receive more guests on November 7 because the bookings had exceeded the number of rooms available. Hoteliers in HCM City all said the business performance this year was better than last year. A Vietnamese owned hotel reported profit to revenue ratio of 52 percent. The ratio is lower for high-end hotels managed by foreign groups, 20-30 percent — not because of fewer guests, but because of higher operation costs. Hoteliers in HCM City all said the business performance this year was better than last year. A Vietnamese owned hotel reported profit to revenue ratio of 52 … [Read more...] about Luxury hotels in HCMC make high profits in 2018
VietNamNet Bridge - Foreign investors hold a stake in about 60 percent of 5-star hotels in Hanoi and HCMC, and are continuing to pour money into the profitable hotel sector. A survey conducted by VnExpress found that of 19 5-star hotels located in the most advantageous positions in HCMC, 10 hotels are foreign invested. The market approach preferred by foreigners is to acquire enough shares to have the right to control the hotels. Investors in Hong Kong, Singapore and South Korea have been increasing their presence at many high-end luxury hotels in HCMC. Keck Seng Investments is the best known Hong Kong investor which invests in two 5-star hotels in HCMC. The real estate tycoon of the Fragrant Harbor holds 64 percent of shares in Sheraton and has 25 percent of interests in Caravelle hotels. RELATED NEWS Vietnam hotel market attracts foreign investors Da Nang improves hotel competitiveness Kim Mai … [Read more...] about Who are the owners of 5-star hotels in HCM City and Hanoi?
Few hotels in Danang managed by foreign firmsBy Nhan Tam Foreigners on the sidelines of a seminar titled, “Solutions to hotels in Danang” - PHOTO: NHAN TAM DANANG – Danang has the second largest number of hotels and resorts in Vietnam, after HCMC, but only a few of them are managed by international corporations, said officials at a seminar in the city on July 14. At a seminar titled, “Solutions for hotels in Danang,” organized by the Danang Hotel Association, Ho Nguyen Phuong Chi, chairwoman of the association, reported that as of June, the city had 729 hotels with 32,000 rooms, including 22 five-star hotels and 45 four-star ones. However, only nine five-star hotels and four four-star hotels were managed by international firms, which will hinder the sustainable development of hotels in the city. Nguyen Hung Anh, deputy general director of Oriental Sea Villas and Hotel JSC, an investor in Sheraton Grand Danang Resort, noted that one of the reasons … [Read more...] about Few hotels in Danang managed by foreign firms