First InterContinental Hotel to open in Ho Chi Minh City, 2009

InterContinental Hotels Group Introduces Luxury InterContinental Brand to Vietnam's Capital

. October 14, 2008

SINGAPORE, September 29, 2006. InterContinental Hotels Group has signed an agreement to manage its first luxury-tier InterContinental branded property in Vietnam's capital, Ho Chi Minh City. Set to open in 2009, the InterContinental Asiana Saigon will be well-positioned to make a landmark contribution to the city's rapid growth as a tourism hub.

Located in the heart of Ho Chi Minh City's District One, the InterContinental Asiana Saigon will be part of Kumho Asiana Plaza, an extensive mixed-use development that will offer unprecedented commercial, retail and dining experiences. The hotel will have a prime address along the historical Le Duan Boulevard, within close proximity to embassies, shopping and tourist attractions.

The mega project, which will occupy more than 147,000 square metres, is being developed by Kumho Asiana Plaza Saigon Co. Ltd. The company is a wholly-owned subsidiary of public listed Kumho Industrial Co Ltd, part of the Kumho Asiana Group of Korea.

Jan Smits, chief operating officer, Southern Asia, InterContinental Hotels Group Asia Pacific, said: 'We are delighted to be able to bring the InterContinental Hotels and Resorts brand to Ho Chi Minh City, which is a key market in our overall development strategy. Vietnam has demonstrated remarkable growth in both the leisure and business travel segments. We see further opportunities to enhance our presence as Vietnam continues to promote itself in the international arena as an attractive place to visit.'

Bok-Sang Chang, General Director of Kumho Asiana Plaza Saigon Co. Ltd, said: 'InterContinental Hotels Group is the perfect partner for the management of hotels and residences that is taking shape in the heart of Ho Chi Minh City. We are confident that the prestige and international appeal of the InterContinental brand and the strength of InterContinental Hotels Group's management and operating systems will deliver good returns on our investment.'

With more than 300 rooms and close to 270 residences for long-staying guests, the InterContinental Asiana Saigon will be designed to reflect the unique culture of Vietnam. The hotel will offer extensive conference and meeting facilities, a range of food and beverage outlets as well as a Club InterContinental lounge. Other facilities include a health club, spa and a swimming pool.

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