VietNamNet Bridge – The leading hospitality player Saigontourist Holding Company has set ambitious targets for 2009 with a double-digit growth despite great hardships for the global and local economy.

It will be more difficult for 2009, but since this August we’ve discussed difficulties now that travelers are to cut down their spending.

The company also seeks a profit of VND2.72 trillion in 2009, up 14% year on year.

Saigontourist’s general director Nguyen Huu Tho told a meeting here last week that it would be difficult for his company to realize the high targets in the face of economic slowdown but Saigontourist was still confident on such goals.

“It will be more difficult for 2009, but since this August we’ve discussed difficulties now that travelers are to cut down their spending. However, we’ve planned measures to cope with the challenges,” he said.

In fact, while the local hospitality industry has been facing a big challenge this year, especially from the fourth quarter, Saigontourist still obtains a good revenue that is 14.4% higher than 2007’s results owing to its thorough preparations.

Saigontourist Travel Service Company is an example. The company’s revenue is to reach VND900 billion this year compared with nearly VND660 billion last year, while its number of travelers has still increased strongly.

Speaking about measures to be taken, Tho said the company would encourage local customers to buy services by offering them budget and flexible products from hotel rooms, travel services, restaurants and others. To attract more foreign visitors, the company is discussing with Vietnam Airlines to make suitable products in the time of financial crisis.

New facilities of the company will also be an advantage, according to Tho.

“We have some new favorable conditions for realizing next year’s targets such as the newly-inaugurated Saigon Exhibition & Convention Center, which will help draw in a considerable number of visitors,” Tho said, adding many exhibition companies have registered for organizing events there in 2009.

Another leader of the company said at the meeting that Saigontourist would continue to develop hotels in downtown HCMC.

The company is making designs for projects to expand the Majestic and Kim Do hotels, and a project to upgrade the four-star Continental hotel into a five-star one. Saigontourist is also preparing other big projects in the city such as two complexes in the heart of the city, a large-scale hotel project in the Thu Thiem New Urban Town, and a project to build a trade-service center and an underground parking.

(Source: SGT)