Thien Minh Group (TMG) is conducting a long term strategic expansion of both the tour and hotel business. In this Project, TMG will seek to expand:
Company's existing hotels / resorts in Mai Chau
Greenfield construction of a new 80 room hotel/resort in Cat Ba in Northern Vietnam
Greenfield construction of a new three-star 100 room hotel in Can Tho
Greenfield construction of a second four-star beachfront Victoria Hotel with 150 rooms in Hoi An Town.
Purchase two 14-seater seaplanes to provide scenic flights/chartered flight services for tourists in Halong bay and Nha Trang.
Thien Minh Group was established in 1994 by Mr. Tran Trong Kien (CEO & Chairman) and his family. TMG (english.thienminhtravel.com) is a leading travel service provider in Vietnam Since 2004, the Company has been expanding the tour operations business as well as investing into other aspects of the travel business such as hotel operations and management.
Recently, the Company operates (i) three inbound tour businesses (ii) seven hotels with total of 547 rooms in various locations in Vietnam plus one hotel in Laos, (iii) an on-line travel bookings company and (iv) a hotel management company. The Company is 52% owned by Mr. Tran Trong Kien and 48% owned by Vietnam Investments Group (VIG), a private equity fund.
The total Project cost is estimated to be US$43.4 million. The proposed IFC investment is US$14 million in equity. IFC has been invited also to convert US$3.5 million of the existing convertible loan into equity.
All inquiries and comments may be directed to:
Mr. Ho Viet Ha
Thien Minh Thien Minh Travel Joint Stock Company
General IFC Inquiries
IFC Corporate Relations
2121 Pennsylvania Avenue, NW
Washington DC 20433
E Mail: Webmaster
ACCOUNTABILITY MECHANISM OF IFC
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