US-based Skybridge Intercontinental Development Corporation, which is developing a large-scale mixed use resort in Vietnam, and international hotel developer Hospitality Investors Group (HIG) are teaming up to develop hotel projects throughout the region.
The new joint venture has already identified a pipeline of projects throughout Indochina on which development could begin rapidly. Projects will range from limited service to five-star hotel properties. The joint venture will also offer access to equity capital, operating agreements with top hotel brands worldwide, operator credit support, and medium term debt financing.
“The new alliance is an integrated practice, which will have an impact on the promising tourism and the fast growing business sectors in Indochina. By offering internationally benchmarked hospitality services catering to the growing business and tourism markets, this joint venture will set a new standard in Indochina,” says Michael Nguyen, President & CEO of Skybridge.
Frank Orenstein, Chairman, HIG, said; “This joint venture will provide exactly that, enabling financing and development of hotels in this dynamic part of the world.”
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