All areas are approximate and as reported.
Eastin Grand Hotel Saigon is a modern, 5-star hotel. Renovation undertaken in 2010 increased total key count from 251 to 278. Located about 10 minutes from Tan Son Nhat International Airport and 20 minutes from the city centre. Eastin Grand Hotel Saigon is ideal for travellers who seek convenience to the airport and is well-known as a business hotel for this reason. The hotel offers a variety of dining options including Vietnamese, Japanese, Chinese, and international cuisines.
Leasehold - both the Investment Certificate and Land Lease Agreement expire in Q1 2032 (therefore 18 years remaining at date of sale). This hotel is re-branded from Movenpick Hotel Saigon by Eastin Grand Saigon after Tung Shing's acquisition in April 2014.
Tung Shing Group was established in Vietnam in the early 90s, 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.
The seller was reported to be VinaCapital and the buyer reported to be Tung Shing Group. The transaction was said reported Q2 2014. See subscription offer for more details.