Vietnam’s Grand Ho Tram launches $1B expansion with five-star hotels
Vietnam’s largest integrated resort, The Grand Ho Tram, has officially broken ground on a new $1 billion expansion that will transform the site into a regional tourism and entertainment hub. The new 35-hectare project, announced on Thursday, includes a five-star hotel complex, luxury resort villas, a wide range of entertainment amenities, and an international convention and exhibition centre.
This development is part of a long-term plan to expand the resort’s total footprint to 164 hectares.
Major milestone in master plan
The project is a joint development by Lodgis Hospitality Holdings and VinaLiving. Lodgis is a partnership between global private equity firm Warburg Pincus and Vietnamese investment manager VinaCapital. Warburg Pincus took control of The Grand Ho Tram in 2019 by acquiring its parent company, Asian Coast Development Ltd (ACDL), from Harbinger Capital, which had originally backed the resort’s $500 million launch in 2013.
The latest development signals the next stage in The Grand Ho Tram’s journey toward becoming a $4.2 billion destination, offering 9,000 hotel rooms, a 바카라, luxury villas, retail spaces and an 18-hole golf course. The 바카라, golf course and several hotel rooms have been operating since the resort first opened.
Leadership and strategy
Since Warburg Pincus took over in 2019, it has installed a new management team led by CEO Walt Power, a veteran of Macau’s gaming industry. Power previously served as Senior Vice President of Operations for Sands China’s Venetian Macau.
Commenting on the groundbreaking, Power said, “We firmly believe that Ho Tram will not only be Vietnam’s leading integrated resort destination but will also be able to compete with top regional destinations such as Singapore, Manila and Macau.”
Focus on events and expat market
Despite long-standing hopes that Vietnamese citizens would be allowed to gamble at The Grand Ho Tram 바카라, the resort has yet to receive such approval. It was not selected for Vietnam’s limited trial programme allowing locals to gamble, which was only granted to Corona Resort & Casino on Phu Quoc.
In response, the resort has shifted its focus to attracting expatriates in nearby Ho Chi Minh City and international tourists from markets such as South Korea, Taiwan and Hong Kong. “We are an event-driven property,” Power said in 2023, highlighting regular activities like boxing, MMA events, 바카라 dinners, fashion shows and beauty pageants.
