Q-Mama Holdings, famous for its “Q-Mama BBQ & Beer” restaurants announced its plan to open the first 5-star “Q-Mama Hotel”, with investment capital of $46 million USD, in Ho Chi Minh City’s district five.
The hotel will be located in one of the cultural and commercial districts of HCMC and will offer 5-star services to both domestic and international customers who will stay at the hotel.
Bach Thuy Ha, the Chairwoman of Q-Mama Holdings said … “After investing in restaurants in Ho Chi Minh City, I realized that there is a real potential for investments in food courts, spas, healthcare and entertainment facilities in Ho Chi Minh City and this hotel is set to exploit just that potential.”
Q-Mama partners who have signed agreements with Q-Mama Holdings in the hotel venture include HD Bank, Hoa Binh Construction Corporation and Vietjet Airlines who have all agreed to cooperate in developing this project.
The Q-Mama hotel will be built on a 2,700 square meter plot of land located at 90 Hung Vuong Street, at the site of one of the city main routes and will offer 13,000 square meters of floor space for the hotel, restaurants and retail outlets.
The hotel will be located close to a variety of entities in the area including An Dong Market, Tan An Dong Trading Center, Parkson Hung Vuong and Thuan Kieu Plaza making it an attractive location for visitors. If construction is on the schedule, then the hotel is expected to open in August 2018.
According to Ms. Ha, the Chairwoman of Q-Mama, the projections for first year turnover from all facilities in the first year of operation will be more than $81 million USD which would make the hotel exceptional in its initial revenue growth.
HCMC is home to more than 640 hotels, however only 20 hotels ~ including Q-Mama ~ are of 5-star category and only 4 hotels in this category are outside of the city’s district 1, central business area. The HCMC government is hopeful that the opening of the Q-Mama hotel in District 5 will increase upscale tourism in this area since it is also served by three other 5-star hotels ~ the Hotel Nikko Saigon, the Equatorial Hotel and the Windsor Plaza Hotel.