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New 5-star hotel ready for business

The 5-star Sheraton Saigon Hotel is scheduled to open in HCM City in April next year.

The 24-story hotel, to be managed by U.S.-based Starwood Hotels and Resorts Worldwide Inc., has 280 deluxe rooms and suites, a ballroom claimed to be the biggest in the city and other facilities. "The Vietnamese economy is booming and now is the best time for the Sheraton Saigon Hotel to be open to business," said Amanda Elder, sales & marketing director.

Sheraton Saigon Hotel is part of the twin tower complex formerly called Ocean Place which was opened earlier this year. The US$100-million complex, a JV between Keck Seng, Resco, Investco and Saigontourist, has 92 executive residences fully occupied now. Work on the project started in 1994 but it was not put into operation due to the regional financial crisis in 1997.

The hotel business has now picked up in HCM City with occupancy as high as 80-90%. The city is home to 626 hotels with 17,000 rooms, including 24 JVs with foreign partners.

Saigon Times Weekly
No.03-'03(588) January 11, 2003