BIM Group launches new international luxury resorts and residences
Squires Patton Boggs has advised on the completion of first international luxury branded resort and residences in Halong Bay, Vietnam.
Firms: Squire Patton Boggs (BIM Group).
Deal: Squire Patton Boggs assisted BIM Group with an exciting new hotel and branded residences project in Halong Bay, Vietnam, to be operated by InterContinental Hotels Group (IHG).
The law firm advised Ha Long Investment Development Limited Company (a subsidiary of BIM Group) in negotiating and documenting a suite of hotel and residences agreements to develop the first international luxury beachfront branded resort and residences in Halong Bay, Vietnam. On completion, the hotel will be operated by IHG under its flagship InterContinental brand.
Area: Real estate and property.
Key players: The Squire Patton Boggs team was led by Rahul Parrab, Asia-Pacific head of hospitality and leisure.
The team included Kevin Lee (associate), Shaista Azam (associate) and Tam Nguyen (paralegal). They worked closely with BIM Group’s experienced in-house legal team and IHG’s legal team.
Deal significance: Slated to open in 2023, the InterContinental Halong Bay Resort will feature 175 guest rooms while InterContinental Residences Halong Bay will be made up of 60 apartments and 41 villas.
Mr Parra said this project complements the longstanding partnership between IHG and BIM Group, and takes Vietnam hotel and residential offerings to a new level.
“We were proud to be part of this landmark transaction,” he added.
InterContinental Halong Bay Resort and Residences is the latest project Mr Parrab’s team has assisted BIM Group with.
Prior to this, the team also advised BIM Group on the InterContinental Phu Quoc Long Beach Resort and Residences (launched in June 2018) and Regent Phu Quoc Resort and Residences (expected to be in operation in Q4 2020) in Phu Quoc, Vietnam.