Singapore-headquartered Far East Hospitality (FEH) is making its Vietnam debut with two boutique hotels set to open in Ho Chi Minh city by the end of this year.
To result from a hotel management and technical services agreement with Five Elements Development, both Lê Công Kiều Hotel and Ngô Văn Năm Hotel will open in Ho Chi Minh City’s District 1.
Lê Công Kiều Hotel will be located along its eponymous street, and will have an Indochina theme and a heritage flair. Facilities accompanying the 56-key property include a bar on the eighth floor; a steakhouse and wine cellar in the basement; and an all-day diner on the ground floor.
Over in Ho Chi Minh City’s Japan district, Ngô Văn Năm Hotel will have 30 rooms. The hotel will feature a Japanese-inspired design, alongside Japanese-style facilties such as an onsen on the rooftop, and an omakase restaurant franchised from Osaka.
“We are trying to position (these properties) as a collection of luxury boutique hotels, where each will have its own concept and key selling point,” said Hai Dang Tran, director, assets management, Five Elements Development.
Arthur Kiong, CEO of FEH, shared: “The price point of the hotels will be within the US$200 to US$300 range, and will be affordable for a large segment of the mid-tier market.”
Kiong indicated that the property will be targeting affluent travellers in their 30s, and believes that “China will be a very big market for these sort of products”. In addition, FEH is also targeting Singaporean travellers thanks to the attractive air fares and flight frequencies between the two countries; Australians; the longhaul American market; and domestic travellers.
On the decision to expand to Vietnam, Kiong, said: “Vietnam is a very exciting leisure destination that is seeing double-digit growth, has a high potential for international visitors, and also has a young dynamic population that is hungry for travel and sophistication.”
As for where the group is looking to expand, Kiong said that in addition to Ho Chi Minh City, Hanoi and Danang were of interest, while Nha Trang also presents opportunities.
“Our plans in Vietnam are to grow to several thousand keys in the next five to 10 years,” Kiong concluded.