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HCMC’s Majestic Hotel Set For $20mln Expansion

Vietnam’s largest travel company, SaigonTourist, plans to spend US$20 million expanding its Majestic Hotel in HCMC’s district 1.

Work on the two-year expansion would begin next year, Tuoi Tre quoted Majestic Hotel director Tao Van Nghe as saying Tuesday.

The project, which has just been submitted to the city government and relevant agencies, includes the construction of a 29-story building with 185 rooms and facilities to meet five-star hotel standards.

Majestic, also known as Cuu Long Hotel, enjoys occupancy rates above 90 percent with international guests making up more than 95 percent.

As SaigonTourist and the hotel are state-owned, the HCMC People’s Committee (local government) has issued a decision to take back 2,603 sq.m of land at the corner of Nguyen Hue and Ton Duc Thang streets in district 1 for the expansion project.

Built in 1925, the colonial-style Majestic is one of Vietnam’s oldest hotels.

In March this year it became the first state-owned hotel in the country to receive a five-star rating from the Vietnam National Administration of Tourism, and the 10th five-star hotel in HCMC alone.

More projects

SaigonTourist has also planned to speed up existing projects and develop new ventures nationwide to meet growing demand in the emerging tourism market.

This year would see expansion completed on the Rex Hotel, also in HCMC’s District 1.

Additionally, under the Ministry of Planning and Investment-approved license, SaigonTourist will join hands with property developer Phu My Hung Corp. to invest $25 million in the first phase of a 118,000 sq.m hotel in district 7’s Phu My Hung urban area.

The project would comprise a reception area, four exhibition halls of 11,000 to 12,000 sq.m each, and an outdoor exhibition space of 20,000 to 25,000 sq.m.

Other facilities include a convention center, a 600-room four-star hotel, a 400-room five-star hotel and an office building.

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