BRG owns majority stake in Thang Loi Hotel

Tuesday, Dec 16, 2014 14:44

The BRG Group owns majority stake of Thang Loi Hotel after purchasing 30 per cent of its share a few months ago, reported the VietNamNet online newspaper. — Photo

HA NOI (Biz Hub) — The BRG Group purchased 30 per cent of the Thang Loi Hotel's shares when its equitisation process was carried out a few months ago, reported the VietNamNet online newspaper.

The government now owns 20 per cent of the hotel's shares, while the remaining has been sold to its staff and external stakeholders.

The group invests and operates mainly in the fields of finance, banking and golf resorts, and has member companies, associate companies, and investment projects such as the Kings' Island Golf Resort in Ha Noi City's Son Tay District, the Do Son Seaside Golf Resort in Hai Phong City's Do Son District and the Legend Hill Golf Resort in Ha Noi City's Soc Son District.

Le Huu Bau is the group's chairman, and his wife Nguyen Thi Nga is the chairwoman of the Southeast Asia Commercial Joint Stock Bank (SeABank). Nga owns five per cent of BRG's VND768-billion (more than US$36.5 million) charter capital.

VietNamNet said that the Thang Loi Hotel might be converted into a five-star hotel next year.

The Cuban government had helped Viet Nam to build the hotel in 1973. It is located on Yen Phu Street, 5km from the city centre. The hotel, situated near West Lake, covers a total area of 4.5ha. — VNS

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