Minor acquires Vietnam’s Life Resorts
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Posted by AZURE Recruitment
Minor Hotel Group, which operates the Anantara hotel brand, has announced the acquisition of Vietnam-based luxury hotel operator, Life Resorts.
The Bangkok-based company, which also owns the Oaks, Avani and Elewana hotel brands, has purchased the Life Resorts brand plus the 96-room Life Heritage Resort Hoi An and the 63-key Life Wellness Resort Quy Nhon in a deal worth US$16 million. Minor said it plans to rebrand both properties later this year, with the Hoi An property becoming Anantara Hoi An Resort and the Quy Nhon property being rebadged as the Avani Quy Nhon Resort & Spa.
“Vietnam… 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,” said William Heinecke, Minor International’s chairman & CEO.
Minor first entered into Vietnam in 1998 through a joint venture for the Harbour View Hotel in Haiphong. More recently in 2011, the company launched the Anantara Mui Ne Resort & Spa on the country’s southeast coast.
The deal for Life Resorts marks the second major acquisition for Minor in recent years. In May 2011the company took a controlling stake in Australia’s Oaks Hotels & Resorts, and has since launched the brand in Thailand.