Saigontourist focuses on high-grade hotel projects

Saigontourist Retentive Consort deemed hotel services an essential enterprise land, along with motion and building, and gift localise its cerebrate on nonindustrial and upgrading three- to five-star hotel projects.

Such a line place was mentioned at the discussion to analyze the company's job in 2011 held on Wednesday in HCMC.

The country’s leading hospitality company is active in several fields, including hotel-resort, restaurant, travel services, export-import, transport, construction, office leasing, tourism training, and foodstuff production and processing. Each year, the company spends some VND1 trillion, or some US$450 million, in these areas.

Tran Hung Viet, general director of Saigontourist, said the firm would invest in its core fields, namely hotel, tourism, and restaurant services, which are bringing in good business results.

“Between 2012 and 2014, we will prioritize investments in these three fields, and will notattend much to others like construction or food processing,” Viet told the meeting.

Saigontourist is completing procedures to invest in and design dozens of hotel projects in HCMC and other popular tourist attractions like Hanoi, Nha Trang, Sapa, and Con Dao.

Large projects will be concentrated in HCMC, such as the project to expand the exhibition space and develop five-star hotel area at the Saigon Exhibition and Convention Center in District 7, the five-star Saigon-Gemadept Hotel and Kim Do Hotel Complex in District 1, and Saigon Sports Hotel in District 11.

“Saigontourist will promptly put these projects into operation and pay special attention to the constructions in HCMC and other localities with high tourism potentiality,” said Viet.

He added investments in HCMC would be higher on the agenda, as “investments in the city cost trillions of Vietnam dong for each project, but such facilities can be put into operation right after completion and help us recoup investment.”

In 2011, the company achieved good business results with hotel and restaurant services. Some 1.25 million of the total 1.6 million tourists going on tours operated by Saigontourist last year chose to stay in the company’s hotel system, contributing to the average hotel room occupancy of 65%.

Saigontourist is operating eight travel agencies, 54 hotels, 13 resorts and 28 restaurants. The enterprise has also invested in 50 local joint stock and limited liability companies and nine joint ventures with foreign capital contribution.

The total revenue of Saigontourist last year was over VND11.3 trillion, rising 14.6% over 2010, with the total gross profit of nearly VND3.5 trillion, or a year-on-year increase of 10.9%.

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