Alternaty, a leading real estate consulting firm in Indochina, merged into Savills Viet Nam, the largest property company in Viet Nam, under a deal inked in Ho Chi Minh City on Tuesday.

Accordingly, Alternaty personnel will join Savills Viet Nam’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 Viet Nam and Southeast Asia.

Neil MacGregor, Savills Viet Nam 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% increase in the number of foreign tourists to Viet Nam, the merger is expected to help Savills access new opportunities on the hotel market in the country, which is projected to record a growth rate of 15%-20% in the short term.

At present, along with such major cities as Ho Chi Minh City and Ha Noi, Da Nang, Kien Giang Province's Phu Quoc island, 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.

(Source: VNA)