Far East Hospitality, one of the leading operators of hotels and serviced residences, today announced that it is expanding its regional footprint into Vietnam. The homegrown company signed a hotel management and technical service agreement with Five Elements Development, a real estate development company with a strategic focus in hospitality, to manage two boutique hotels – Lê CôngKiều Hotel and NgôVănNăm Hotel – set to open in Ho Chi Minh City by end of 2019.
Under these agreements, Far East Hospitality’s responsibilities include hotel operations and sales & marketing functions. Far East Hospitality will also act as a consultant during the design, planning, and construction stages of the hotels.
“Vietnam is one of the fastest growing tourism markets in the world with double-digit percentage increases in the country’s international arrivals since 2015. Furthermore, the Vietnamese government has also set a goal of 20 million foreign visitors by 2020,” said Mr. Arthur Kiong, Chief Executive Officer of Far East Hospitality. “Given the robust growth ahead, we see this partnership with Five Elements as a timely and strategic one to uplift Vietnam’s hospitality industry,”
“Five Elements Development was in search of a reputable management partner and one of the key criteria is the ability to provide quality guest services,” said Mr. Tran Thanh Hai,Chief Executive Officer of Five Elements Development. “We learned that two of Far East Hospitality’s boutique properties – AMOY and Quincy – have continuously been ranked among the Top 5 hotels for quality services according to TripAdvisor’s Traveller Choice Award. This track record of delivering high-quality, and differentiated offerings gives us the confidence that Far East Hospitality is the right partner for us. We are excited to work together on this journey to propel Vietnam’s hospitality scene.”
Lê CôngKiều Hotel, a 56-key property, will be located along the Lê CôngKiều street – a well-known antique shopping street, while NgôVănNăm Hotel, a 30-room property, will be located in the heart of Ho Chi Minh City’s Japan town.
