MGM Mirage, which is one of the global leaders in hospitality and entertainment, has marked its entry into Vietnam after its hospitality division cut a deal with the developer of the Ho Tram project under construction in Ba Ria-Vung Tau Province.

Under the agreement with Ho Tram Project Co., MGM Mirage Hospitality will brand and manage the first of five resorts planned for the mammoth Ho Tram Strip project in the southern province, David Subotic, general director of Ho Tram Project Co., which is a wholly-owned subsidiary of Asian Coast Development Canada Ltd.

"MGM Mirage Hospitality will manage and operate the first of the five Ho Tram Strip resorts under the name MGM Grand Ho Tram," Subotic told the Daily in an email yesterday after he joined top executives from MGM Mirage and Steelman Partners on a tour of the Ho Tram Strip construction site over the weekend.

Subotic said ground leveling had been completed for several of the resort sites on the Ho Tram Strip, including the site for MGM Grand Ho Tram. He furthered development efforts on the first resort were now centered on completing design upgrades and enhancements presented by MGM Mirage.

"MGM Grand Ho Tram will be the first component ofthe Ho Tram Strip, which at US$4.2 billion and with 9,000 planned hotel rooms is the largest tourism project to receive the approval of the Vietnamese Government," Subotic said.

Subotic said Ho Tram Project Co. was in partnership with MGM Mirace as its experience and knowledge in the integrated resort field would bring "great value" to the first-phase resort in the 169-hectare Ho Tram Strip.

"We continue to bring our expertise in developing and operating some of the world's leading integrated leisure complexes to the design process," said Lloyd Nathan, president of MGM Mirage Global Gaming Development. He noted the design was also combined with " uniquely Vietnamese architecture."

Nathan said the exciting project was set to revolutionize Vietnam's tourism industry, and the company was looking forward to bringing the MGM Grand brand to "one of Southeast Asia's most desirable destinations." The MGM Grand Ho Tram resort will feature 1,100 rooms, an entertainment facility, luxury retail, restaurants, meeting space, live entertainment stages, spa services, and an exclusive VIP area, as well asa variety of beach-front recreation activities.

The MGM Grand hotel component is composed of two towers, each of which will include luxury suites. This five-star hotel is one of the facilities to be developed in Phase I worth US$1.4 billion and scheduled to be open in 2011.

A championship golf course designed by PGA legend Greg Norman is also outlined in Phase 1 of the Ho Tram Strip in Phuoc Thuan Commune in Xuyen Moc District, around 80km southwest of HCMC.

Asian Coast Development Canada Ltd. started work on the project on 24 May last year, only a day after the international development and real estate company specializing in integrated resort destinationsreceived an investment certificate.

Steelman Partners, one of Las Vegas' premier architectural firms, designed the Ho Tram Strip that stretches more than two kilometers of white-sand beach.

The three-phase project is scheduled for completion within 10 years. Slated to open in late 2014, the second phase of the project is worth some US$2.3 billion and comprises of more rooms, an international conference and exhibition area, and an entertainment complex with commercial facilities.

MGM Mirage, one of the world's leading development companies with significant holdings in gaming, hospitality and entertainment, owns and operates 17 properties in Nevada, Mississippi and Michigan, and has 50% investments in four other properties in Nevada, New Jersey, Illinois and Macau. It is developing major resorts, separately and with partners in Las Vegas, Atlantic City, China and the United Arab Emirates.

Rol.vn - Source: Saigon Times