A hotel chain set to come up in Hollywood, California, in the United States, which is currently being developed by two real estate firms -- Colony Capital and Relevant Group -- has recorded investment registrations from 68 individual Vietnamese investors.

Scott Barrack represents Relevant Group to introduce the Hollywood-Los Angeles hotel chain project to investors in HCMC at an event held on March 3

Each investor registered to invest at least US$150,000 in the hotel complex at events held between March 8 and March 10 in HCMC and Hanoi to introduce the project, which will be constructed in the areas of the Hollywood Walk of Fame and Downtown Los Angeles in the state of California.

The events were organized by USHome, a Colony Capital’s business partner in Vietnam, in partnership with Immica and the Relevant Group.

Investors usually have to own from US$5 million to US$7 million to be eligible to participate in Colony Capital’s projects, said a USHome representative. However, the hotel chain project allows local investors to invest not lower than US$150,000 per person. Also, the investors are expected to recoup 61% of their investment in the first two years.

Providing over a decade of support to the Vietnamese to purchase and invest in property projects in the U.S., USHome has helped over 200 local investors pour investment into U.S.-based hotel and housing projects. It will focus on working on the Hollywood-Los Angeles hotel chain project in California this year, with capital reaching an estimated US$125 million.

SGT