VIETNAM-based Windsor Real Estate Management Corporation (WMC) will kick off its two-year expansion plan in Ho Chi Minh City with the opening of a mixed-used complex in the second half of the year.
The 40-storey complex, tentatively named Times Square, will comprise 250 hotel rooms, 100 apartments and high-end retail and commercial offices, among other facilities. The complex will be located in Ho Chi Minh City’s District 1, a busy commercial area.
The expansion plan undertaken by the group also includes the acquisition and renovation of several three-star properties, a second serviced apartment and other hotel projects by joint-venture or acquisition.
Speaking to TTG Asia e-Daily in Singapore, WMC CEO, Anthony Truong, said that the plan was to have 2,000 rooms in Ho Chi Minh City in the next two years. He has also started developing the group’s mobile booking capability to complement an existing online direct booking and payment system for travellers.
When asked how the home-grown group would compete with other international hotel chains in the city, Truong said: “There are not that many international and regional hotel chains and brands in Ho Chi Minh City. Sure, Renaissance, Park Hyatt and Equatorial are there, but there are still not that many international five-star hotels. Hotel development in the city is still in the early days, and it is time we establish ourselves. We can be the next big regional player.”
Truong added that the 400-room five-star Windsor Plaza Hotel Saigon and 38-unit Sherwood Residence serviced apartment, which WMC owns and manages, have performed well in terms of occupancy, attracting a majority international clientele.