Vietnam to Get $1.6 Billion Coastal Resort and New Five-Star Hotel
Skift Take
Vingroup Corporation started construction of Lang Van resort at the foot of Hai Van pass (DaNang, Vietnam) with an investment capital reported at about $1.6 billion USD.
Colliers said investments in the hotel sector in Hong Kong could reach about US$637 million, almost 50% higher than in 2024 after solid activity in the first quarter. JLL is forecasting it will hit US$800 million. In the first three months of 2025, hotel deals made up about 45% of commercial real estate transactions, the busiest quarter on record. Hotel deals amounted to HK$2.82 billion last quarter with the biggest transactions including Nanyang Commercial Bank's seizures of the 598 room Hotel Cozi Harbour View in Kwun Tong for HK$1.87 billion; the Airport Authority's purchase of the 800 room Winland 800 Hotel in Tsiny Yi for HK$765 million and the HK$188 million deal for the 100 room MK Stay Hotel in Mong Kok. Consultants say demand for hotel assets is coming from groups or brands that are seeing the current property downturn and tourism rebound as an opportunity to gain a foothold in HK, with the other being investors looking to convert more hotels into stud
