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Acquisitions & Hotel Openings

Regent Hotels & Resorts Signs Agreement with BIM Group for Regent Phu Quoc Opening in 2019

TAIPEI, TW. July 10, 2017 – Regent Hotels & Resorts signed a management agreement with prominent Vietnamese property developer BIM Group last week in Hanoi, to manage Regent Phu Quoc, a luxury hotel and residential development in the heart of Phu Quoc, Vietnam’s largest island. The signing ceremony was attended by the Chairman of Regent Hotels Group, Steven Pan, and Doan Quoc Viet, Chairman of BIM Group.

With the 2019 launch of Regent Phu Quoc, Regent Hotels & Resorts’ global property portfolio will increase to nine and Regent Phu Quoc will be the company’s third mixed-use development comprising a hotel and luxury residences. In the early stages of development, the property has already won in the New Hotel Construction & Design Vietnam category at the 2017 Asia Pacific Property Awards.

Regent Phu Quoc will be at the heart of Phu Quoc Marina, set to be the hottest new destination in Vietnam. The spectacular 400-room waterfront property will bring true luxury to the new lifestyle destination. It will offer both spacious hotel rooms and private residences; each unit will be equipped with a Lake Villa, Beach or Sky Villa that will include a private swimming pool and magnificent sea views. Regent Phu Quoc will also offer world-class dining with Michelin-starred dining options, spectacular private beaches, a luxury spa, pool, and gym facilities. As with all Regent Hotels & Resorts, the property will combine indigenous design that encapsulates the essence of the locale, with understated luxury, to provide guests with extraordinary accommodations experiences and living spaces that are world-class.

Vietnam's Phu Quoc is set in the Gulf of Thailand, off the coast of Cambodia. More than 70% of the island is classified as a National Park and a protected area thus providing visitors with abundant natural landscapes, pristine beaches, and a tropical jungle, as well as a traditional fishing village that displays strong French influences. Regent Phu Quoc is located at Bai Truong, on the west coast of the island, known for its sunsets. The property is just a 10 minute drive from the airport.

“As a truly Asia-based global hospitality group, Regent Hotels & Resorts is an internationally acclaimed luxury hotel brand with a high reputation across Vietnam’s major targeted tourism markets such as China, Japan, Korea and the United States,” said Doan Quoc Viet, Chairman of BIM Group, after the signing ceremony. “Furthermore, the Regent team has an extraordinary eye for detail and an innate understanding of contemporary luxury. I look forward to working with Steven Pan and his team to set new standards for Vietnam’s tourism industry.”

Steven Pan, Chairman of Regent Hotels Group, further noted, “Asia plays an important role in Regent’s global expansion plans, especially throughout the Southeast Asia region. There is clear potential for growth in Vietnam. I am thrilled to be working alongside Doan Quoc Viet, and his team at BIM Group, on this exciting development in Phu Quoc. We see great synergies in our company values and look forward to working closely and bringing together our joint expertise to create a truly winning property. With BIM Group, I look forward to repeating the success of the Regent mixed-use hotel residential concept to the island and forming the very heart of the Pho Quoc Marina. Alongside our development plans in Vietnam, we are finalizing the second phase of our mixed-use development at Regent Porto Montenegro with the opening of the Regent Pool Club Residences. We will also be launching Regent Jakarta in 2018, for which we have already won four design awards at the Indonesia Property Awards.”

About Regent Hotels & Resorts

Regent is a global luxury hospitality brand encompassing hotels, resorts and residences. It was founded in the 1970s by legendary hotelier Robert H. Burns, later joined by Adrian Zecha and Georg Rafael. In the ‘80s and ‘90s, Regent is the first hotel brand to introduce the 5-fixture bathroom, the all-villa resort, and the mixed-used hotel development. It is a truly Asia-based global hospitality group to successfully challenge the industry’s European and US dominance, both with the opening of the flagship Regent Hong Kong and the iconic Regent Beverly Wilshire. As an international leading hotel brand, Regent has been constantly receiving award recognitions around the world. The existing Regents are located in Beijing, Berlin, Chongqing, Porto Montenegro, Taipei and Singapore with new hotels opening in China’s Harbin, as well as a return to Jakarta in 2018. For more information, please visit www.regenthotels.com.

About BIM Group

BIM Group is a diversified organization with a solid financial foundation and over 20 years of delivering high-quality and sustainable developments in Vietnam. As a reputable developer, BIM Group works together with prestigious design houses, reputable construction contractors and top property management companies to implement all of BIM Group’s real estate projects. BIM Group has been developing a vast number of high-end properties such as Fraser Suites Hanoi providing serviced apartments with occupancy rate of over 95%; The Halong Marina Urban Development; Royal Square – a first-class hotel-office-shopping mall complex in Vientiane, Laos (of which the hotel component is to be managed by InterContinental Hotels Group under the Crowne Plaza brand).

Contact:
Blake Bellucci
bbellucci@njfpr.com
212.228.2557

Coming Up In The December Online Hotel Business Review




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Feature Focus
Hotel Law: Issues & Events
There is not a single area of a hotel’s operation that isn’t touched by some aspect of the law. Hotels and management companies employ an army of lawyers to advise and, if necessary, litigate issues which arise in the course of conducting their business. These lawyers typically specialize in specific areas of the law – real estate, construction, development, leasing, liability, franchising, food & beverage, human resources, environmental, insurance, taxes and more. In addition, issues and events can occur within the industry that have a major impact on the whole, and can spur further legal activity. One event which is certain to cause repercussions is Marriott International’s acquisition of Starwood Hotels and Resorts Worldwide. This newly combined company is now the largest hotel company in the world, encompassing 30 hotel brands, 5,500 hotels under management, and 1.1 million hotel rooms worldwide. In the hospitality industry, scale is particularly important – the most profitable companies are those with the most rooms in the most locations. As a result, this mega- transaction is likely to provoke an increase in Mergers & Acquisitions industry-wide. Many experts believe other larger hotel companies will now join forces with smaller operators to avoid being outpaced in the market. Companies that had not previously considered consolidation are now more likely to do so. Another legal issue facing the industry is the regulation of alternative lodging companies such as Airbnb and other firms that offer private, short-term rentals. Cities like San Francisco, Los Angeles and Santa Monica are at the forefront of efforts to legalize and control short-term rentals. However, those cities are finding it’s much easier to adopt regulations on short-term rentals than it is to actually enforce them. The December issue of Hotel Business Review will examine these and other critical issues pertaining to hotel law and how some companies are adapting to them.