HCM CITY (Biz Hub) — Real estate investor and developer M.I.K Corporation on Tuesday signed a management agreement with InterContinental Hotels Group (IHG) for building a 300-room Crowne Plaza Hotel in Phu Quoc Island, southern Kien Giang Province.
Work on Crowne Plaza Phu Quoc Starbay is expected to cost approximately US$100 million and will be kicked off next month. The hotel, which is slated to become operational by 2017, will comprise a lagoon, beach village, and a range of shops, restaurants, and bars.
The hotel is close to the island's town centre Duong Dong and the Phu Quoc International Airport, making it a prime venue for corporate and leisure events.
"We are delighted to work with IHG to bring the first Crowne Plaza hotel to Phu Quoc. The island is growing as a tourism destination, and as one of the few hotels in the market with a range of meetings and events facilities, Crowne Plaza Phu Quoc Starbay will be in a greater position to cater to business and leisure travellers," said John Lim, CEO of M.I.K Corporation. — VNS