The Vinpearl hotel, to be designed by French architects, will be built at Bai Soi, one of the most beautiful beaches on Hon Tre Island near Nha Trang, the capital city of central Khanh Hoa Province.

The resort will cover about 25 hectares and have 150 rooms.

The company also said its contract with Accor Group, one of the world's largest hotel companies, had ended and Vinpearl will no longer use the Sofitel brand for its existing resort.

The complex will now be known as Vinpearl Resort and Spa.