Indochina Capital Developing the $100 million Hyatt Regency Danang Resort

The first Hyatt resort in the country is getting off the ground in Danang. Hyatt Hotels & Resorts last week broke ground for construction on the Hyatt Regency Danang Resort and Spa on the central coast, joining the Park Hyatt in Ho Chi Minh City’s District 1 as its second Hyatt property in Vietnam.

Scheduled to open in 2010, the resort’s 226 guest rooms will be complemented by residential developments, including 150 condominium and 30 two-storey oceanfront villas for sale. “While some excellent beach resorts have opened in Vietnam, none possess the brand appeal of the Hyatt,” said Peter Ryder, CEO of Indochina Capital, the resort’s developer.

“The wider world is just waking up to this region,” said Ryder. “The days of Good Morning, Vietnam are long over, and the Hyatt’s enthusiasm for this project attests to that.”Indochina Capital will spend more than $100 million on developing the resort, which will compete with many others under construction and planning in the central coast such as the nearby Crowne Plaza and Raffles Resort. Baron Ah Moo, CEO of Indochina Land’s Hotel and Resorts, said the central coast would continue to be a key component to the company’s real estate portfolio and it was diversifying the types of investments in the area.

Currently, Indochina Land’s operating assets in the Danang and Quang Nam province include The Nam Hai, a boutique luxury hotel and Indochina Riverside Towers, a mixed-use office, retail, residential project. To complement these projects and to add to the destination, the company is developing the Montgomerie Links golf course, which is expected to open this summer.

Four architects are combining to build the resort on the 20 hectare site. RMJM Singapore is the lead designer and Australia-based Diana Simpson Designs is working up the interior designs. US-based Site Concepts International is developing the landscape and Studio Daminato, based in Singapore, will design the resort’s restaurant.

Another of the resort’s distinguishing features will be a subterranean spa setting, accessed by a canyon-like gallery visible as a crack in the landscape at ground level. Each of the 30 beachfront residences feature three bedrooms, a pool and a garden. At the resort’s north end, the apartments will be situated in a suite of buildings, ranging in height from six to 14 storeys. (Source: VIR)