Details of the deal were not revealed but a source from Vina Properties said the acquisition was completed a few days ago. The new owner has changed the hotel’s name to DuParc Phan Thiet Ocean Dunes & Golf Resort.
Indochina Capital Investment Fund is one of the investors in the project. Apart from an 18-hole golf course, the project features a four-star hotel with 123 rooms operated by Accor Hotel Group.
Earlier, Vina Properties acquired the stakes of Hong Kong’s Kovina Investments Limited and Singapore’s AOI Saigon Pte Ltd. in Amara Saigon Hotel in Ho Chi Minh City’s District 3. The 280-room hotel was then renamed Ramana Saigon Hotel.
In 2010, the group expanded its investment portfolio in the hospitality industry by taking over Dalat Palace Luxury Hotel & Golf Club and DuParc Hotel Dalat in Dalat City.
Vina Properties is a local company active in the business fields of hotel-entertainment, aviation and construction.