Baker Mckenzie Vietnam Advised On Hotel Management Agreement Between Nam Ninh Trading And Meliá Hotels International Group.
Legal News & Analysis - Asia Pacific - Vietnam - Corporate/M&A
6 April, 2019
Baker McKenzie advised Nam Ninh Trading and Investment Co. Ltd. ("Nam Ninh Trading") on a hotel management agreement with the Meliá Hotels International Group ("Meliá Hotels"), which would see an expansion of the latter's portfolio into the north Vietnam city of Ninh Binh. This multi-million, multi-deal signed on 27 February 2019 will see Nam Ninh Trading's existing property The Reed Hotel in Ninh Binh be rebranded under the Meliá Hotels brand.
"This agreement marks an interesting development on two prongs: one, that Meliá Hotels sees the value proposition of The Reed Hotel by signing on an existing hotel onto the roster of their international properties; and two, this investment will also see an expansion of the hotel to include a convention center in Ninh Binh, further raising the profile and use of Nam Ninh's existing six year old property," said Frederick Burke, the managing partner of Baker McKenzie Vietnam, who also led on this transaction. Special Counsel Nguyen Gia Long and paralegal Phan Thu Trang also worked on this deal with Burke.
Thong Vu, the Chairman of Nam Ninh Trading also added: "We appreciate the team's dedication, professionalism and excellent service on this project, and look forward to working with Baker McKenzie on other projects."
As part of the upgrade and rebranding of the property to become Meliá Ninh Binh, PTW Architects from Australia have been commissioned for the re-designing and Huong Sen Healthcare Company Limited will be in charge of operating Sen1992, a five-star spa. The project is expected to make Meliá Ninh Binh a new architectural highlight and raise the tourism profile for Ninh Binh City as well.