Ho Chi Minh City (VNA) – Alternaty, a leading real estate consulting firm in Indochina, merged into Savills Vietnam, the largest property company in Vietnam, under a deal inked in Ho Chi Minh City on March 28.

Accordingly, Alternaty personnel will join Savills Vietnam’s Hotels and Leisure Division, while Mauro Gasparotti and Rudolf Hever, co-founders of Alternaty, will become Directors of Savills Asia Pacific’s hotels division.

The moves aim to boost the development of hotel services in Vietnam and Southeast Asia.

Neil MacGregor, Savills Vietnam Managing Director, said that the capacity of Alternaty personnel will help provide better services for the development of the hospitality industry, and help select hotel managers for investors.

With a 26 percent increase in the number of foreign tourists to Vietnam, the merger is expected to help Savills access new opportunities on the hotel market in Vietnam, which is projected to record a growth rate of 15-20 percent in the short term.

At present, along with such major cities as Ho Chi Minh City and Hanoi, Da Nang city, Phu Quoc island in Kien Giang province and Khanh Hoa province’s Nha Trang city are also attractive to investors.

Total value of transactions in the hotel market reached 500 million USD during the past 24 months.-VNA