MGM Pulls Out Of Vietnam Casino Hotel

Category: Hotels, Posted:09 Mar 2013 | 09:01 am

Vietnam is continuing to see stress in its development pipeline.
The latest casualty is the split between MGM Resorts International and Asian Coast Development at the Ho Tram project.
MGM has terminated their contractual agreement on grounds of failure to achieve pre-opening milestones.
Asian Coast has said they are in the process of finding another operator.
From a reputation standpoint the splinter between the two groups looks set to create even more negative sentiment in the market.

Other News

C9 Hotelworks New Thailand Branded Residences Report Released

Category: Hotels|Real estate, Posted:21 Sep 2024 | 09:19 am In 2020, Aman Nai Lert Bangkok established a new standard for ultra-luxury branded residences positioning itself as the best-in-market product at the time. Today, the Porsche Design Tower Bangkok, developed in partnership with Ananda Development, has pushed those boundaries further, surpassing THB1 million (just over USD33,000) per square meter. This landmark project not only raises […]

Phuket’s Hilton Garden Inn Transacts to TriO Capital

Category: Hotels, Posted:13 Sep 2024 | 12:58 pm The 177-room Hilton Garden Inn Phuket, Bang Tao has traded to private equity group TriO Capital. Operating under a franchise agreement with Hilton, the hotel opened in late 2021 and had been owned and operated under GCP Hospitality. A strategic plan for a design and development upgrade under TriQ will kick off at the end […]

South Korea Tops Asia’s Branded Residences Pricing Premiums In C9 Hotelworks Latest Report

Category: Hotels|Real estate, Posted:11 Sep 2024 | 10:17 am South Korea’s luxury real estate market has evolved significantly, transitioning from traditional residential properties to innovative branded residences. The trend began in 2008 when The Ananti Hotel introduced a pioneering co-ownership model, targeting affluent buyers seeking luxury vacation homes and social prestige. This success spurred other domestic brands like Lotte and Hanhwa Resorts to follow […]

More Insider News