US$4.2 billion, 9,000-room Luxury Hotel Resort and Entertainment Destination planned for Vietnam

Ho Tram Strip, designed by Las Vegas' premier architectural firm Steelman Partners, is aiming to become Vietnam’s largest single tourism venture. The planned US$4.2 billion, 9,000-room luxury hotel resort and entertainment destination will be located on the white sand beaches of Ba Ria - Vung Tau Province, in southern Vietnam.

Phase 1 of the project - a five-star hotel resort with 1,100 rooms, a championship golf course designed by PGA legend Greg Norman, and Vietnam's first Las Vegas-style casino - is slated to open in late 2010. Phase 2 - a second luxury resort with 1,300 rooms, a casino, and 10 restaurants and nightclubs - is scheduled to open in the spring of 2011. The entire complex, located 80km southwest of Ho Chi Minh City on the South China Sea, is scheduled to be completed in under 10 years.

“The proximity to one of the finest unspoiled beaches in the world gives us the opportunity to create something special,” said Paul Steelman, founder and Chief Executive Officer of Steelman Partners, who also designed the Sands Macau and Macau Studio City. “The Ho Tram Strip will combine entertainment, adventure and leisure vacations into one exceptional vacation experience.”

The 169-hectare Ho Tram Strip will be integrated into area’s natural surrounding and will be themed around environmental preservation and conservation. When complete, the Ho Tram Strip will include five resorts and an international conference centre. The development will also provide guests with recreational options such as luxury spas, state-of-the-art performance facilities, upscale retail and a wide selection of gourmet restaurants offering local and international cuisine.

Asian Coast Development Ltd, a privately held Canadian-based luxury resort developer, has been awarded an investment certificate by the government of Vietnam that allows for the construction of the Ho Tram Strip. The official investment certificate was presented to Asian Coast Development on May 23 by the Vietnam government at a ceremony in Ho Chi Minh City attended by Vietnamese government officials and Paul Steelman. The event was followed by a formal groundbreaking at the site.

“Vietnam is blessed with some of the most magnificent natural beauty in the world,” said Michael Aymong, Chairman, Asian Coast Development Ltd. “We share the same vision and determination as our Vietnamese partners in ensuring that this development respects the lush natural beauty of the area while showcasing local culture. The Ho Tram Strip will set the standard as a premier luxury destination in this beautiful country.”

Vietnam was identified as one of 53 “hot-spot” tourist destinations in 2008 by the New York Times, with golf cited as a main attraction for international visitors. According to the World Travel and Tourism Council, Vietnam has moved up to fourth from sixth place in its ranking of the world's fastest-growing destinations. Last year it had 4.2 million foreign visitors, 16% more than in 2006. International visitors in the first four months of 2008 reached almost 1.7 million, 16% higher than in the same period in 2007.

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