
Nguyen Huu Duong, the owner of the gold-plated Dolce by WyndhamHanoi Golden Lake, confirmed the sale with the local press.
Sharing the reason to sell the property, Duong said his company isshort on funding for employee compensation and interest.
Currently, there are about ten interested investors negotiatingthe price, offering 250 million USD, Duong told cafef.vn.However, he expected the price to be higher for the hotel’s lucrativecommercial value.
Dolce by Wyndham Hanoi Golden Lake is the first gold-plated hotelin Hanoi. The hotel was inaugurated in July 2020 with an investment of 100million USD.
Almost all exterior designs and interior furniture of the hotelare covered with 24k gold. The 24-storey hotel has 360 rooms, costing up to 1,000USD per night.
Duong is Chairman of Hoa Binh Group, one of the top tourism andevent providers. Some of its notable hotels include Somerset Hoa Binh, DolceHanoi Golden Lake, and Danang Golden Bay.
The Hoa Binh Group currently owns nearly 9,000 square metres ofland in Hanoi and plans to build a social housing project, but after nearly ayear of waiting, the project has not been approved, which further complicatesthe company’s situation./.