Japan firm to build 100 hotels in Vietnam

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ToyokoInnBusan
Toyoko Inn is a no-frills hotel chain present on Japan and South Korea

Japanese hotel chain Toyoko Inn has said it will build 100 hotels in Vietnam over the coming years in an aim to capitalise on the country’s long-term growth prospects.

Nishida Norimasa, President and founder of Toyoko Inn, said he believes that the project would be successful as for the long term Vietnam’s economy will be “surely better than at present.”

The Vice President of the Vietnam Chamber of Commerce and Industry, Doan Duy Khuong, said the project was “a meaningful economic event in the context of the two countries’ rapidly expanding relations in trade, tourism and culture.”

Norimasa did not disclose the value of the investment.

Toyoko Inn Co. is a chain of no-frills business hotels in Japan, founded in 1986 and expanding rapidly from the 1990s. The company aims for uniformity in its hotels, using as many prefabricated and bulk-purchased components as possible to reduce costs. So far, all its hotels were built in Japan, except from two in South Korea.

Japan now ranks third among 84 countries and territories investing in Vietnam in terms of registered capital and first in terms of the amount of disbursed capital.

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Reading Time: 1 minute

Toyoko Inn is a no-frills hotel chain present on Japan and South Korea

Japanese hotel chain Toyoko Inn has said it will build 100 hotels in Vietnam over the coming years in an aim to capitalise on the country’s long-term growth prospects.

Reading Time: 1 minute

ToyokoInnBusan
Toyoko Inn is a no-frills hotel chain present on Japan and South Korea

Japanese hotel chain Toyoko Inn has said it will build 100 hotels in Vietnam over the coming years in an aim to capitalise on the country’s long-term growth prospects.

Nishida Norimasa, President and founder of Toyoko Inn, said he believes that the project would be successful as for the long term Vietnam’s economy will be “surely better than at present.”

The Vice President of the Vietnam Chamber of Commerce and Industry, Doan Duy Khuong, said the project was “a meaningful economic event in the context of the two countries’ rapidly expanding relations in trade, tourism and culture.”

Norimasa did not disclose the value of the investment.

Toyoko Inn Co. is a chain of no-frills business hotels in Japan, founded in 1986 and expanding rapidly from the 1990s. The company aims for uniformity in its hotels, using as many prefabricated and bulk-purchased components as possible to reduce costs. So far, all its hotels were built in Japan, except from two in South Korea.

Japan now ranks third among 84 countries and territories investing in Vietnam in terms of registered capital and first in terms of the amount of disbursed capital.

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