The plan was introduced at a 2019 review meeting of the HCMC-based firm on January 14 in HCMC.
Aside from the upgrade of some four- to five-star hotels in HCMC and the construction of the Danang-based hotel this year, Saigontourist will build a three-star hotel in Nha Trang and consider the execution of some projects in Con Dao, Ba Ria-Vung Tau Province.
Addressing the event, Tran Vinh Tuyen, vice chairman of the municipal government, said that the city expected Saigontourist to not only develop itself into a major brand in the local tourism industry but also to make it big on the global scale.
The year 2020 will mark the start of a restructuring plan, with Saigontourist among the large companies conducting equitization, said the vice chairman.
The company has over 100 hotels, resorts, restaurants, travel firms and exhibition facilities. It served over three million tourists last year, up 6.4% against 2018. Its total revenue exceeded VND20 trillion, rising 4.7% year-on-year, while consolidated profit rose 4.8% versus 2018 to reach over VND4.7 trillion.
Also, the company invested thousands of billions of dong in multiple projects in 2019.
This year, Saigontourist is expected to serve 3.3 million tourists, with total revenue projected at VND22 trillion.