Saigontourist, one of Vietnam’s leading travel operators, has bought an unnamed hotel in San Francisco, the US, at a cost of US$44 million, its general director, Nguyen Huu Tho, said June 24.

Aerial view of Fisherman's Wharf

The 252-room hotel, built in 2001, is located in a place known as Fisherman’s Wharf which attracts 17 million tourists a year.

Mr.Tho said Saigontourist is negotiating with Intercontinental for the use of its brand name.

It is set to hire a foreign company to manage the property.