VinaCapital sells stake in Hilton Hanoi Opera
VinaCapital will sell all of its stake in the five-star Hilton Hanoi Opera hotel, the group announced on September 7.
VinaCapital will sell all of its stake in the five-star Hilton Hanoi Opera hotel, the group announced on September 7.
The sale would result in an internal rate of return of 23 percent for VinaCapital after three years of investment.
Since VinaCapital bought 70 percent of stake in the French-designed hotel in June 2006, the group helped upgrade the hotel’s operations, thus posting a 29.5 percent growth in revenue in two years, said Stephan O’Gray, Managing Director of VinaCapital Hospitality.
The hotel’s revenue in 2008 reached 9.5 million USD.
VinaCapital, one of Vietnam’s largest asset managers, is now managing a total of over 1.6 billion USD.
The group is also one of the biggest investors in such big names in the hospitality sector as the Sofitel Metropole-Hanoi, Movenpick Hanoi, Movenpick Saigon, Mercure La Gare Hanoi and the Sheraton Nha Trang./.
The sale would result in an internal rate of return of 23 percent for VinaCapital after three years of investment.
Since VinaCapital bought 70 percent of stake in the French-designed hotel in June 2006, the group helped upgrade the hotel’s operations, thus posting a 29.5 percent growth in revenue in two years, said Stephan O’Gray, Managing Director of VinaCapital Hospitality.
The hotel’s revenue in 2008 reached 9.5 million USD.
VinaCapital, one of Vietnam’s largest asset managers, is now managing a total of over 1.6 billion USD.
The group is also one of the biggest investors in such big names in the hospitality sector as the Sofitel Metropole-Hanoi, Movenpick Hanoi, Movenpick Saigon, Mercure La Gare Hanoi and the Sheraton Nha Trang./.
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