November 25, 2024

IHG Hotels & Resorts has signed a management agreement with Regis Bay Vietnam Investment Joint-Stock Company for the opening of Crowne Plaza Danang City Centre in Vietnam.

This new 31-storey hotel is poised to cater to the increasing demand for hospitality options in the region.

The Crowne Plaza Danang City Centre is strategically located a 15-minute drive from Da Nang International Airport in the Hai Chau district.

Previously known as the Bay Capital Danang Hotel, the Crowne Plaza Danang City Centre is undergoing rebranding as part of IHG&rsquo s expansion.

The hotel joins other Crowne Plaza properties in the country such as Crowne Plaza Phu Quoc Starbay and Crowne Plaza Vinh Yen City Centre.

The hotel boasts an array of facilities, including an all-day dining restaurant, a lobby lounge and bar, and over 500m² of meeting spaces. Guests can also enjoy a swimming pool, spa, and fitness centre.

 

Adventus Holdings has appointed SAC Capital to help raise $1.54 million by placing out up to 855 million shares at 0.18 cents each.

 

The proposed placement will not be underwritten and is priced at 10% off Adventus' volume-weighted average price of 0.2 cents on Dec 27, before trading of the shares were halted.

 

The quantum of shares to be placed will enlarge the company' s share base by a quarter to more than 3.3 billion shares.

 

On Sept 26, Adventus announced an agreement for Intercontinental Hotels Group (Vietnam) to manage its hotel in Danang.

 

Adventus says it is an " opportune time" to raise funds via a placement to " allow the end-placees to participate in the future prospects and development of the group. 

 

" The proposed placement would also increase the financial resources available to the group who had historically relied on bank borrowings and shareholder loans.

 

Adventus says it will use proceeds from the placement to repay bank loans, working capital as well as property enhancement costs required by the hotel in Danang.