Bay Capital Da Nang Firefighting and Rescue Drill Plan 2024

https://links.sgx.com/FileOpen/Adventus%20-%20Entry%20into%20HMA%20for%20Bay%20Capital%20Danang.ashx?App=Announcement& FileID=819955

ENTRY INTO HOTEL MANAGEMENT AGREEMENT WITH INTERCONTINENTAL HOTELS GROUP (VIETNAM) COMPANY LIMITED TO MANAGE AND OPERATE HOTEL IN DANANG, VIETNAM

The Board of Directors (the &ldquo Board&rdquo ) of Adventus Holdings Limited (the &ldquo Company&rdquo and together with its subsidiaries, the &ldquo Group&rdquo ) wishes to announce that the Company has, through its subsidiary Regis Bay Vietnam Investment Joint-Stock Company, on 26 September 2024, entered into a hotel management agreement (the " HMA" ) with InterContinental Hotels Group (Vietnam) Company Limited (&ldquo IHG Vietnam&rdquo ) wherein IHG Vietnam will provide, inter alia, hotel management and technical services to the Group&rsquo s hotel located in Danang, Vietnam (the &ldquo Hotel&rdquo ). The HMA will be for an initial term of 25 years from the opening date, currently scheduled for 31 December 2024, with an option for renewal after the expiry of the initial term. This follows the Company&rsquo s decision to transition the Hotel from the current self-managed arrangement through its subsidiary, Bay Hospitality Pte. Ltd., which has been managing the Hotel since operations commenced in August 2023.

The entry into the HMA is not expected to have any material impact on the earnings per share and net tangible assets per share of the Company and the Group for the current financial year ending 31 December 2024.

The Company, its Directors and controlling shareholders are not related to IHG and its directors or controlling shareholders. None of the Directors or controlling shareholders of the Company has any interest, direct or indirect, in the HMA, other than through their shareholdings (if any) in the Company. 

    Run By InterContinental Hotel Group, No Worries For The Next 25 Years!