VMS Group Expands Stake in Hoi An South Development to 75%, Strengthening Control Over Hoiana Resort & Golf

3 hours ago 0 5

VMS Group has significantly increased its stake in Hoi An South Development (HASD), the owner and operator of Hoiana Resort & Golf, securing 75% ownership through a strategic shareholding restructure and capital raise. This decisive move aligns with VMS Group’s long-term vision to accelerate the development of Vietnam’s premier integrated resort, positioning it as a key driver of economic growth in Quang Nam Province.

Strategic Restructuring to Enhance Hoiana Resort & Golf’s Growth

As part of the restructuring initiative, Benny Chong, Chairman and CEO of VMS Group, has been appointed as President of HASD. Meanwhile, Alan Teo has taken over as CEO, replacing Steven Wolstenholme, who is stepping down after seven years of leadership. This transition marks a new chapter for Hoiana Resort & Golf as VMS Group seeks to optimize operational efficiency and accelerate development efforts.

Hoiana Resort & Golf: A Premier Integrated Destination

Hoiana Resort & Golf stands as one of Vietnam’s most prominent integrated resorts, offering 1,200 luxury hotel rooms, a world-class championship golf course, state-of-the-art convention facilities, and a diverse array of entertainment and leisure venues. The resort is designed to be a hub for tourism and investment, attracting high-end travelers, corporate conferences, and international investors.

Key Features of Hoiana Resort & Golf

1,200 Luxury Hotel Rooms: The resort features world-class accommodations catering to both leisure and business travelers.
Championship Golf Course: Designed by Robert Trent Jones Jr., the golf course provides a premier experience for golf enthusiasts.
Convention and Event Facilities: Hoiana is positioned as a leading venue for business summits, exhibitions, and high-profile corporate events.
Entertainment and Gaming: A state-of-the-art gaming complex, nightlife venues, and cultural attractions enrich the resort’s offerings.
Retail and Dining Options: A curated selection of high-end retail stores and fine-dining restaurants enhance the guest experience.

Leadership Transition to Drive Future Success

The leadership transition follows a series of executive appointments at Hoiana in 2024. In July, Melvyn Boey was named Chief Financial Officer (CFO), replacing Laurence Hawke, who moved to Travellers International Hotel Group. Boey’s appointment is crucial in overseeing financial operations and strategic planning, ensuring the resort’s long-term financial health and sustainability.

VMS Group’s Vision for Hoiana

VMS Group has reiterated that the leadership and structural changes are part of a broader strategy to ensure project-financed developments are completed on schedule. The company aims to:

Accelerate Infrastructure Development: Fast-track construction projects to enhance Hoiana’s facilities.
Strengthen Market Positioning: Establish Hoiana as a premier tourism and investment hub in Southeast Asia.
Attract Foreign Investment: Foster international partnerships to expand Hoiana’s influence in the global hospitality and gaming industry.
Increase Employment Opportunities: Drive job creation and economic growth in Quang Nam Province.

Investment and Expansion Plans

The restructuring and capital raise reinforce VMS Group’s commitment to Hoiana’s long-term expansion. Future investments will focus on:

New Hotel Developments: Expanding accommodation options to cater to increasing tourist demand.
Enhanced Entertainment Offerings: Introducing new gaming experiences, live performances, and interactive attractions.
Sustainable Growth Initiatives: Implementing eco-friendly operations and green energy solutions to align with global sustainability standards.

Vietnam’s Growing Tourism and Gaming Market

Vietnam’s tourism and gaming industry continues to experience rapid growth, positioning Hoiana Resort & Golf as a significant player in the market. Government initiatives to boost tourism, coupled with increasing foreign investment, are expected to further elevate Vietnam’s standing as a premier luxury travel and gaming destination in Asia.

Why Hoiana Resort & Golf is a Game-Changer

Strategic Location: Situated in Quang Nam Province, Hoiana is easily accessible from major cities and international airports.
World-Class Amenities: A seamless blend of luxury, gaming, and business facilities sets Hoiana apart from competitors.
Strong Industry Partnerships: Collaborations with global hospitality and entertainment brands ensure continued success and innovation.
Economic Impact: Hoiana contributes significantly to local job creation, tourism revenue, and foreign direct investment.

VMS Group’s Commitment to Excellence

VMS Group remains steadfast in its mission to transform Hoiana Resort & Golf into a world-renowned luxury destination. The recent shareholding restructure and leadership changes underscore the company’s commitment to sustained growth, enhanced guest experiences, and long-term profitability.

FAQs About VMS Group’s Expansion of Stake in Hoi An South Development and Hoiana Resort & Golf

1. What is the significance of VMS Group increasing its stake in Hoi An South Development?

VMS Group has expanded its ownership to 75% in Hoi An South Development (HASD), the owner of Hoiana Resort & Golf, through a shareholding restructure and capital raise. This move strengthens its control and aligns with its strategy to accelerate the resort’s development in Vietnam’s Quang Nam Province.

2. Who are the key leadership changes following this restructuring?

Benny Chong, Chairman and CEO of VMS Group, has been appointed as President of HASD.
Alan Teo has taken over as CEO, replacing Steven Wolstenholme, who is stepping down after seven years in the role.
In July 2024, Melvyn Boey was appointed CFO, replacing Laurence Hawke, who moved to Travellers International Hotel Group.

3. What is Hoiana Resort & Golf, and what does it offer?

Hoiana Resort & Golf is a luxury integrated resort designed to be a premier tourism and investment hub. It features:

1,200 high-end hotel rooms catering to luxury travelers.
A championship golf course designed by Robert Trent Jones Jr.
State-of-the-art convention and event facilities for business and corporate gatherings.
Entertainment and gaming venues, including a casino, nightlife attractions, and cultural experiences.
Retail and fine-dining options, offering a diverse selection of premium brands and cuisines.

4. Why is this restructuring important for Hoiana’s future growth?

VMS Group aims to enhance operational efficiency, expedite infrastructure projects, and attract more foreign investment. The leadership and structural changes support the completion of project-financed developments while strengthening Hoiana’s market position in Southeast Asia.

5. What are the key investment and expansion plans for Hoiana Resort & Golf?

New hotel developments to accommodate increasing tourist demand.
Enhanced entertainment offerings, such as new gaming experiences and live performances.
Sustainable growth initiatives, including eco-friendly operations and green energy adoption.

6. How does Hoiana Resort & Golf contribute to Vietnam’s economy?

The resort is a major contributor to local job creation, tourism revenue, and foreign investment. It strengthens Vietnam’s standing as a premier luxury travel and gaming destination in Asia.

7. What makes Hoiana Resort & Golf a game-changer in Vietnam’s tourism industry?

Strategic location in Quang Nam Province, accessible from major cities and international airports.
World-class amenities, combining luxury accommodations, gaming, business facilities, and entertainment.
Strong industry partnerships with global hospitality and entertainment brands.
Significant economic impact on local employment and investment.

8. How does VMS Group plan to position Hoiana in the global market?

VMS Group’s strategy includes:

Accelerating infrastructure development to enhance Hoiana’s facilities.
Strengthening its market positioning as a top tourism and investment hub.
Attracting foreign investors through international partnerships.
Driving economic growth by creating new job opportunities in Vietnam’s Quang Nam Province.

9. What role does government support play in Hoiana’s expansion?

Vietnam’s government is actively supporting tourism and gaming sector growth through foreign investment incentives and infrastructure development projects, helping Hoiana Resort & Golf become a leading destination in Asia.

10. What is VMS Group’s long-term vision for Hoiana Resort & Golf?

VMS Group is committed to transforming Hoiana into a globally recognized luxury resort and gaming hub, ensuring sustained growth, enhanced guest experiences, and long-term profitability through strategic investments and leadership excellence.