Thien Minh II

active

Established in 1994, TMG (english.thienminhtravel.com) is a leading travel service provider in Vietnam. Since 2004, the Company has been expanding the tour operations business as well as diversifying into other aspects of the travel business such as hotel operations and management. Today, the Company operates (i) three inbound tour businesses (ii) seven hotels with total of 547 rooms in various locations in Vietnam plus one hotel in Laos, (iii) an on-line travel bookings company and (iv) a hotel management company. TMG is undertaking a long term strategic expansion of both the tour and hotel business via (i) developing a branded three star hotel chain across major cities in Vietnam (ii) scaling up the four-star Victoria hotel chain to major cities and tourism destinations in Vietnam (iii) diversifying tour product portfolio by offering high value added products. As part of its long term plan, TMG is considering several projects, which potentially includes brownfield/greenfield development of the following properties and business (“the Project”):Expansion of Company’s existing hotels / resorts in Mai Chau Greenfield construction of a new 80 room hotel/resort in Cat Ba in Northern VietnamGreenfield construction of a new three-star 100 room hotel in Can ThoGreenfield construction of a second four-star beachfront Victoria Hotel with 150 rooms in Hoi An near Da Nang Purchase two 14-seater seaplanes to provide scenic flights / chartered flight services for tourists in Halong bay and Nha Trang. To support these expansion plans, IFC is considering an equity investment in TMG.