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Ramada Kahuna - a unique offering of Ho Tram Strip

Released at: 08:13, 29/08/2018 BUSINESS SPOTLIGHT

Ramada Kahuna - a unique offering of Ho Tram Strip

Photo: HTP

Mr. Gary Martin, Ho Tram Strip's Head of Development, tells VET about its new condotel and villa project Ramada Kahuna.

by Khanh Chi

Why have you launched Ramada Kahuna Ho Tram Strip at this time?

The existing integrated resort has successful developments, with a 541-room international five-star Hotel - The Grand, a world class golf course - The Bluffs, and luxury villas - Gallery Villas. At the end of this year The Beach Club, a 559-room second hotel tower, will open, with superior amenities. Ho Tram Strip is one of the few promising integrated resorts in both Vietnam and Southeast Asia.

The essential difference between Ramada Kahuna and other developments is that it gives investors direct access to Vietnam’s largest operational integrated resort, Ho Tram Strip, with unique benefits that can’t be found elsewhere. Besides,Ramada Kahuna becoming part of the largest hotel group in the world, Wyndham, confirms Ho Tram Strip as the leading entertainment complex in Vietnam and one of the innovators in Asia.

It is expected that Ho Tram Strip will obtain a license to allow Vietnamese access to the casino on a three-year trial. How do you think this will boost the growth and property value of Ho Tram Strip?

The Vietnamese Government has already decreed changes to the law allowing Vietnamese to enter casinos. The only thing left for it to do is issue a license to a suitably-qualified operator. Ho Tram Strip qualifies for a trial license and is the only operational integrated resort that does so now. Thus, if our casino is accepted for the trial license, it can only be a good thing for investors who join us as we continue to develop.

What competitive advantages does Ramada Kahuna Ho Tram Strip offer investors?

Credibility is a major driver. In the case of Ramada Kahuna Ho Tram Strip, the project is backed by a powerful combination of a development company with a proven track record in development at Ho Tram Strip as well as a billion-dollar investment, plus the world’s Top 3 hotel management company, Wyndham Hotel Group, under the Ramada flag. Moreover, on September 8 the project’s name will be officially changed to “Ramada By Wyndham Ho Tram Strip”. This reflects the strategic partnership between the developer HTP and the operator Wyndham.

Thanks to its experience and global network in the resort sector, Wyndham can give comfort for the achievement of a high occupancy rate and an attractive return of 8 per cent for the first two years, 9 per cent for the next two years, and a 60/40 net revenue sharing model for years five to ten. This model will protect investors from cost increases and other factors affecting their returns. A rental pool agreement for ten years assures investors of a solid cash flow with a capital gains opportunity.

The owner must cooperate with other reputed partners to ensure a quality project. In the Ramada By Wyndham project, who are your key partners?

We have a team of professional consultants from Korn Architects – “German excellence”, AURECON MEP engineers, ACONS for the structure and more. Thu Thiem Real is well in touch with customers’ needs as the project’s exclusive sales agent. We are in the process of tendering the building to reputable building contractors.

Can you tell us more about the construction of LocAn Airport, which will solely serve guests of Ho Tram Strip?

The Vietnamese Government supports our endeavors to build a dedicated airport about 12 km from Ho Tram Strip that will primarily be used for our international customers coming to use the casino and other facilities. Negotiations are underway with the provincial government of Ba Ria Vung Tau to secure appropriate land. The formal application for the airport has been submitted and we are actively pursuing the project. The airport will act as a catalyst for tourism in the region and greatly enhance the performance of Ho Tram Strip.

There are certain issues relating to the legality of leasing units in resort real estate projects. What is Ramada By Wyndham’s position?

This is a relatively new industry in Vietnam. As investors, we have a 50-year lease and all investors share in this lease by way of a contractual lease that mirrors the terms of the principal lease. The national and provincial governments are considering mechanisms by which these contractual leases can be registered so that investment can be securitized. We are confident that in the course of the contractual lease, alternative enhanced ownership rights will accrue to the investors, and this is covered in the documentation.

After Ramada By Wyndham, what is next for Ho Tram Strip?

The 1:2000 master plan. Revision has recently been approved with plans for many more hotels, resorts and more condotels/villas as well as many exciting entertainment offerings, including a waterpark and a theme park, all linked together in an integrated fashion. This is a large-scale development with many opportunities and has a very exciting future.

Thank you for talking to us!

On September 8th, 2018, Ramada Kahuna Ho Tram Strip will organize an event of announcing its new brand name at The Grand Ho Tram Strip (Ba Ria - Vung Tau).

For registration and more information, please contact:

Hotline: 08 98 223 223 or website: http://en.dautucondotelhotram.com/

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