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Asian Coast
Development (Canada) Ltd. (ACDL) has received an Investment Certificate from
the Government of Vietnam, the first of its kind approved by both the central
government and the Ba Ria-Vung Tau provincial government. Under the Investment
Certificate, ACDL has the right to develop five large-scale luxury resorts and
two large-scale entertainment centers on 164 hectares of pristine beachfront
property located in Ho Tram, 127 kilometres southeast of Ho Chi Minh
City. The property will be developed to showcase and capitalize on a 2.2
kilometre strip of untouched beach fringing the South China Sea.
On November 17, 2008,
ACDL’s wholly-owned Vietnamese subsidiary the Ho Tram Project Company entered into a Collaboration and
Assistance Agreement and a Management Services Agreement with MGM MIRAGE
Hospitality International Holdings Limited (MMH), a subsidiary of MGM Resorts
International. Under the terms of the Collaboration and Services
Agreement MMH will assist in the development and marketing of the first of the
five resorts, MGM Grand Ho Tram. Under the Management Services Agreement,
MMH will brand, manage, and operate the MGM Grand Ho Tram.
MGM Grand Ho Tram will
be a fully-integrated luxury resort and entertainment destination offering
guests a premium hospitality experience. In 2013, the first phase of the five-star
MGM Grand Ho Tram will open its doors, offering 541 luxury guest rooms, a
spectrum of world-class restaurants and entertainment amenities, a conference
centre, a retail area, and a fully operational large-scale entertainment
facility.
Additional features
include:
The planned second
phase of the MGM Grand Ho Tram includes a further 549 guest rooms and 14 VIP
Villas, bringing the total number of five-star hotel rooms to 1100 and
completing the development of the first integrated resort.
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