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VMS takes controlling interest in Hoiana as it looks to become ‘world-class integrated resort’

By - 30 януари 2025 г.

VMS Group, a Hong Kong-based private equity investment company, has increased its share in Hoi An South Development (HASD), the owner of Hoiana Resort & Golf in Vietnam’s Quang Nam Province, to 75 per cent.

Hoiana, which opened in 2020 with 140 tables games, 200 slots, 1,200 hotel rooms, a golf course, convention facilities, restaurants and other entertainment options, did so under the ownership of VMS Group, Sun City, which was renamed LET Group in 2022, and VinaCapital. Its President and CEO Steve Wolstenholme will now be replaced by Benny Chong, the Chairman and CEO of the VMS Group, while Alan Teo has been named CEO. Teo, former Chief Operating Officer of Singapore’s Resorts World Sentosa, has spent the last few years as COO of Universal Hotels and Resorts, operator of NUSTAR Resort and Casino in Cebu, Philippines.

VMS said: “The changes in leadership are part of our commitment to adapt and evolve to the ever-changing business landscape, ensuring that our company remains at the forefront of our industry as we continue to expand our project. Looking ahead, our focus remains on delivering exceptional services to our clients and fostering a workplace culture that encourages collaboration, innovation, and growth.

“Our mission is to establish Hoiana into a world-class integrated resort for both business and leisure visitors. Hoiana aims to transform the south of Hoi An into a premier travel destination, attracting both domestic and international tourist visitation. This will significantly increase tourism-related revenues and skilled jobs for the region, create vast investment opportunities for investors globally, and enhance GDP growth and tax revenues for Vietnam and the province.”

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