The Ritz-Carlton Hotel Company, L.L.C. Announces First Hotel in Vietnam, with Development of The Ritz-Carlton, Saigon

HONG KONG, July, 2012 – The Ritz-Carlton Hotel Company, L.L.C., the leader in luxury hospitality, has announced the brand’s first hotel in Ho Chi Minh City (Saigon), marking another step in the group’s expansion in Asia. The Ritz-Carlton, Saigon is owned by the Bitexco Group, one of Vietnam’s most prestigious property developers.

The 250-room hotel is located in the historic centre of Saigoni9 adjacent to the famous Ben Thanh Square market, in a 48-storey tower. The Ritz-Carlton, Saigon is part of a dynamic development project called The One Ho Chi Minh City, which also includes prime office space, retail outlets and 350 luxury apartments.

Award-winning US architect Bernardo Fort-Brescia of Arquitectonica Architects, drew inspiration from Vietnam’s legendary dragon. He described the towers as a representation of two dragons rising from the ground with their tails coiled and pearls dangling from their mouths. In Vietnamese culture, dragons, especially in pairs, are a powerful life symbols representing prosperity and growth.

“We are honoured to be partnering with The Bitexco Group to manage this exceptional property in the heart of Ho Chi Minh City,” said Herve Humler, President and COO – The Ritz-Carlton Hotel Company, L.L.C. “Ho Chi Minh City is one of the most vibrant and intriguing cities in Asia today and the sophisticated luxury travellers of today will enjoy exploring the best the city has to offer from this prime location when it opens in 2017. This project offers our travellers an exceptional new destination to explore.”

Ho Chi Minh City has a rich history which is reflected in its architecture with numerous neoclassical buildings and broad boulevards. The city enjoys a modern vibe that sits harmoniously with its past. Its proximity to the foothills of the Central Highlands, part of the spine of mountains running nearly the entire length of Vietnam, are a short drive to the northeast while to the south is the Mekong Delta.

Mr. Vu Quang Hoi, Chairman of Bitexco Group of Companies, said: “We are delighted The Ritz-Carlton Hotel Company has partnered with The One to raise the benchmark for a luxury lifestyle in Vietnam. Bitexco believes in partnering with the world’s best. With that, we are also confident that this hub will attract top tier multi-national corporations to locate in The One Ho Chi Minh City.”

Asked about additional growth in Asia for The Ritz-Carlton, Mr. Humler said: “We continue to explore other opportunities and destinations in Asia. With the region’s strong travel and tourism industry, we see expansion in key Asian cities, with the right hotels in the right locations, to be an essential part of our future strategy.”

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