Eastin Grand Hotel Saigon

Overview

Type: 
Land area: 
8,183 sqm
Unit area: 
0 sqm
GFA: 
27,660 sqm
NLA: 
0 sqm
Hits: 
194
General Information
· Street no: 253 · Street: 253 Nguyen Van Troi · Ward: 10 · District: Phú Nhuận · City: Ho Chi Minh City
· Project (GFA): 27,660 sqm

All areas are approximate and as reported.

Property Notes

General description:

Formerly the Mövenpick Hotel Saigon. First opened as the Omni Saigon and later rebranded as the Mövenpick Hotel Saigon, the property has been the Eastin Grand Hotel Saigon since April 2014. Minor cosmetic changed since the latest rebranding, with the new management making upgrades to common spaces. The hotel has 268 rooms ranging superior rooms to club grand suites.

Legal/ developer overview:

The operation period of hotel is 40 years valid from the signing date of Investment License No. 315/GP dated 30 Jan 1992, (which is valid till 2032)

Land title was under lease hold interest of 25 years from 10th March 1994, which was until 2019. As at 2013, the land lease agreement terms was recorded to extend until 2032 as same as approved investment license terms. 

The hotel originally named Omni Saigon Hotel, opened in 1993, is a 5-star hotel comprised of 244 rooms, suites and serviced apartments provided by the hotel, a business centre, some meeting and banquet facilities; restaurant and bars and a gaming club can be found in the hotel.

The hotel owner in 1993 is A-1 International (Vietnam) Corporation Ltd , a JV of Luc Luong Thanh Nien Xung Phong (local company) & Top Star International Co. Ltd. The hotel was managed and operated under the Marco Polo brand.

In 2007, VinaCapital bought 70% shares of Ommi Saigon Hotel from A-1 International (Việt Nam) Co. Ltd and re-brand hotel name to Movenpick Saigon Hotel.

In 2014, Tung Shing Group bought 53% shares of the hotel from Vinacapital and re-brand again hotel name to Eastin Grand Hotel Saigon. 

Tung Shing Group was established in Vietnam in the early 90's, the group is entrenched in Vietnam, with diverse business profile from real estate development to trading, and employing more than 1,800 staff. The Tung Shing Group is Vietnam’s leading distributor of industrial sewing machines, and the business has flourished with the country’s burgeoning garment and textile sectors at the very beginning.

Merger & acquisition &/or sale:

The seller was reported to be VinaCapital and the buyer reported to be Tung Shing Group. The transaction was reported as at Q1 2014. 

Marketing, leasing or asking price:

Q4 2019 leasing rates price per night excluding taxes and fees:

Superior Rooms (King / Twin) 30sqm US$75.
Deluxe Rooms (King / Twin) 32sqm US$87.
Deluxe Premium Rooms (All King) 34sqm US$95.
Deluxe Family Rooms (All King) 38sqm was at US$107.
Club Deluxe Rooms (King/ Twin) 32sqm US$133.
Club Premium Deluxe Rooms (All King) 34sqm US$141.
Club Family Deluxe Room (King) 38sqm US$153.
Club Executive Suite (King) 70sqm US$337.
Club Grand Executive Suite (King) 100sqm US$426.

Sale & evidence history

General amenities

  • Airport
  • Bus station
  • Entertainment centre
  • Hospital
  • Local People's Committee
  • Modern retail complex
  • Museum
  • Parkland
  • School
  • Supermarket/Minimart
  • University

Facilities

  • Bar (general)
  • Cafe
  • Concierge
  • Gymnasium
  • Hotel and resort facilities and amenities:
  • Lifts
  • Meeting room
  • Pool/s
  • Reception/ concierge
  • Restaurant
  • Sauna
  • Spa
  • Steam room

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