Already present with a Park Hyatt property in Ho Chi Minh City, Hyatt Hotels Corp and Vietnam’s unlisted Thai Group have agreed to build a $165-million Park Hyatt hotel project in Hanoi, the Vietnamese government officially announced last Tuesday.
Before its Hanoi property, Park Hyatt is also opening its first property in Bangkok. The hotel, integrated to the luxury mall Central Embassy, has been delayed by a year and a half. However it is due to open to the public during the first half of the year. The Bangkok new flagship property will have 222 rooms including 30 premier suites. It will offer three luxury restaurants, four bars and a ballroom.
The construction of the Hanoi property, which will comprise nearly 300 rooms including presidential suites, is due to end by 2018, the government said on its website chinhphu.vn. The deal was signed on the sidelines of the U.S.-ASEAN Summit attended by U.S. President Barack Obama and leaders from Southeast Asia in California.