There is also a decent Renaissance Hotel in HCMC with excellent rates for club floor rooms. Great location next to Saigon River. There is a brand new Hyatt that looked about ready to open when I passed it a few weeks ago.

Saigon is a great place in itself, check out the war museum (very biased and some gruesome sights !) and Reunification Palace and as mentioned above you should definitely do the Cu Chi Tunnels.