Muong Thanh acquires Hoang Anh Gia Lai hotel in Vietnam’s Central Highlands
Wednesday, August 14, 2024, 17:21 GMT+7
Muong Thanh Group, a well-known Vietnamese hotel and apartment developer, confirmed on Tuesday its acquisition of the Hoang Anh Gia Lai Hotel, located in Pleiku City in the Central Highlands province of Gia Lai, from Ho Chi Minh City-based Hoan Sinh Gia Lai Investment Co. Ltd..
Muong Thanh has taken over the hotel and is currently conducting repairs but declined to disclose the deal’s value, a group representative told Tuoi Tre (Youth) newspaper.
As the first four-star lodging facility in the Central Highlands region, the 117-room Hoang Anh Gia Lai Hotel is situated near Phu Dong Square in the heart of Pleiku City and was put into operation in late 2005.
Late last year, Hoan Sinh Gia Lai purchased the hotel from Hoang Anh Gia Lai JSC, Do Xuan Duc, director of Hoan Sinh Gia Lai, confirmed.
However, he refused to reveal his company’s plan after acquiring the hotel.
In 2019, Muong Thanh Group also bought a Hoang Anh Gia Lai hotel in Da Nang City, central Vietnam and renamed it Muong Thanh Luxury Song Han.
Doan Nguyen Duc, chairman of Hoang Anh Gia Lai, earlier said that the proceeds from the hotel sale would be used to pay the principal and interest on the bonds issued in 2016 at the Joint Stock Commercial Bank for Investment and Development of Vietnam.
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