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InterContinental Hotels Group (IHG) has signed an agreement with MBLand (Military Bank Land) to manage the first Holiday Inn Hotel in Vietnam's capital city of Hanoi. In addition, IHG has signed an agreement with Gwangwondo Development Corp. to manage two resorts and suites that will add another 1,000 rooms to IHG's pipeline in Korea and doubling its number of hotels in that market.
The new IHG hotel in Vietnam is scheduled to open in 2012 and will have more than 300 rooms. The property, known as Holiday Inn Hanoi Dong Da, will be part of a mixed-development complex with an upmarket retail and commercial center. IHG opened its first hotel in Vietnam, the luxury InterContinental Hanoi Westlake, in 2007. Its development pipeline in the country includes seven other hotels-three InterContinental hotels in Hanoi, Ho Chi Minh City and Danang; and four Crowne Plaza hotels in Hanoi, Danang and Nha Trang.
The latest IHG developments in Korea include the 236-room InterContinental Alpensia Pyeong Chang Resort; the 182-room Holiday Inn Alpensia Pyeong Chang Resort; and the four-tower Holiday Inn Alpensia Pyeong Chang Suites, with around 550 rooms. All the properties are expected to be completed in 2009. IHG already has three hotels in South Korea, with a total of about 1,600 rooms.
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