DoubleTree by Hilton Makes Investment in Laos
The award-winning DoubleTree by Hilton will soon be among the many new hotels to open in the heart of Vientiane. Earlier in the week, DoubleTree by Hilton Vientiane signed a management agreement with TPD Company Limited, a branch of TK Group, to manage the 160-room luxury hotel.
The announcement solidifies Hilton’s launch into Laos and the brand’s debut in the capital city of Vientiane.
Guy Philips, senior vice president of development – Asia & Australasia, Hilton stated, “the capital city of Vientiane is a key destination in Laos, with tourist arrivals making up approximately 25 percent of total annual arrivals historically. Vientiane has become a strategic market for Hilton’s first point of entry to Laos. As one of the world’s fastest-growing hospitality companies and through our strong partnership with TPD Company Limited, we are confident that the DoubleTree by Hilton Vientiane will perform well in the market.”
As the social and economic capital of Laos, Vientiane is home to a multitude of substantial financial institutions, government agencies and international businesses holding offices.
Its landlocked state has also positioned the country in a unique seat, acting as a trading hub for various goods on account of its access to Thailand and Vietnam via the Mekong River and three link bridges.
The country is foreseen to has seen a surge in economic growth from foreign investment in recent years, and is foreseen to remain one of the fastest growing economies in Asia as a result of the government’s enthusiasm to encourage foreign investors and pledging to developing the tourism industry.
Leading up to the 2016 launch of the ASEAN Economic Community, statistics showed a 70 percent increase in foreign direct investment.
In addition, the much anticipated US$6 billion, 427-kilometer Laos-China railway, that is currently under construction, will connect the Kunming-Singapore railway and will run through central Vientiane making Laos a vital part of the project.
The economy is expected to see a boost in trade and tourism and spur economic growth within the capital.
The DoubleTree by Hilton Vientiane is located on the intersection of Rue Setthathilath and Rue Manthatourath, close to the iconic stupa, That Dam. The hotel is also conveniently located about five kilometres from Wattay International Airport and is scheduled to open in early 2020.