InterContinental finally moves into Keangnam

After substantial delays InterContinental will open a new luxury hotel at the Keangnam Landmark Tower
Photo: Duc Thanh

Keangnam president Lee Hyo Jong told VIR last week that after a period of negotiations, InterContinental Hotel Group (IHG) and Keangnam had come to an agreement, and were making preparations to open the InterContinental Hotel at Keangnam in the second half of this year.

The reason for the delay, Jong said, was that the two sides had to resolve their differences in terms of their creative vision for the hotel’s overall style and facilities.

“One of the reasons why starting our hotel business has been delayed is the negotiating process on brand-standards with IHG. In order to satisfy the brand-standard required, it required large additional investment so it took quite a long time to deal with IHG. However, now all unclear issues are settled and it will begin operating within the second half of 2015,” Jong said.

InterContinental Hanoi Landmark 72 was initially due to be opened at the end of 2013, however the operation, it seemed, had been delayed to the point where even the billboard naming Intercontinental as the operator of the hotel was removed from the wall of Keangnam’s Landmark building.

VIR was told that all members of the team responsible for the pre-opening activities had been disbanded.

Clarence Tan, chief operating officer for Southeast Asia & Resorts of IHG confirmed to VIR that IHG was still working with Keangnam to open the hotel.

InterContinental Hanoi Landmark 72 looks set to be a 5-star luxury hotel, and the tallest hotel in Southeast Asia. At the very top of the Landmark 72 building, perched between floors 62-71, the 359 rooms will have spectacular views, not to mention access to a variety of restaurants and state-of-the-art meeting facilities.

“We know that the hotel segment is struggling through difficult times with supply greater than demand. However, we still have faith in our hotel, because we have our target customers, who are within the business circle from neighbouring industrial zones and MICE activities,” Jong said.

Moreover, being a multi-function complex, Keangnam’s president also believed that the demand of companies and their partners in the building could supply a stable source of customers.

Keangnam Landmark Tower is the tallest building in Vietnam, consisting of six separate components: apartments for sale, serviced residence, offices for lease, a retail podium, a living and entertainment serviced area, and a hotel. The hotel is the latest component to be into operation.

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