Minor Hotel Group has strengthened its position in Vietnam’s hospitality sector by acquiring Life Resorts for US$16 million.
Within the Life Resorts portfolio, Minor Hotel Group has acquired the 96-key Life Heritage Resort Hoi An and the 63-key Life Wellness Resort Quy Nhon. The Life Resorts properties are widely recognised, not only in Vietnam but also in Asia and in key European markets. Total investment amounts to US$16 million for the two properties and acquisition of the brand.
Minor Hotel Group plans to rebrand both properties later this year to two of its existing brands. The Hoi An property will be flagged under the group’s well-established luxury Anantara brand and will become Anantara Hoi An Resort, while the Quy Nhon property will be flagged Avani, MHG’s new contemporary upscale brand, becoming Avani Quy Nhon Resort & Spa.
Life Heritage Resort Hoi An is French colonial style and situated along the Thu Bon River, a short walk from the town centre of Hoi An, a UNESCO World Heritage Site, while Life Wellness Resort Quy Nhon is a private secluded beach resort, with all guest rooms offering sea views.
Minor Hotel Group first entered into Vietnam in 1998 through a joint venture in Harbour View Hotel, Hai Phong. This was followed in 2011 by the launch of Anantara Mui Ne Resort & Spa on the country’s south east coast. Taking ownership of the two additional properties, MHG is making a much more significant step into the country’s hotel market and demonstrating its commitment to Vietnamese hospitality.
William Heinecke, Chairman and Chief Executive of Minor International, said: “Vietnam is a fascinating country with a rich culture and diverse landscape and has seen exceptional growth and economic development in recent years. These two properties are a great fit for Minor’s hotel portfolio and we are convinced of their continued success and of the country’s bright prospects in the coming years.”