International hotel developers Hospitality Investors Group announced Monday that the company has partnered with Skybridge International Development Corporation to finance the building of lodging facilities in Vietnam, Laos and Cambodia.
No deals have been inked yet and the amount of money intended for investment has not been released.
“We’re more concerned about the deals,” Frank Orenstein, chairman of Hospitality Investors Group said. “We’re not concerned about capital.”
Orenstein said that investments for properties that would cater to business travel and perhaps tourism that would return an investment quickly.
“In Vietnam, some of the beaches and resort areas are spectacular, exceptional but the lift of passengers is difficult,” Orenstein said.
Michael Minh Nguyen, president of Skybridge International Development Corporation said three to five-star hotels would be the type of properties developed by the joint venture.