IFC Invests in Thien Minh Group to Promote Sustainable Tourism

IFC, a member of the World Bank Group, is financing the expansion of Thien Minh Group’s hospitality business, which will boost Vietnam’s tourism sector, contribute to its economic diversification and sustainable growth, and create jobs.

 

IFC has committed a US$14 million equity investment in Thien Minh Group. The financing will help the company realise its long-term strategic plan of expanding its tour operating business as well as developing its hotel chains across Vietnam.

 

Established in 1994, Thien Minh Group has grown from a tour operator into a leading privately owned integrated travel group with three main tour companies, an on-line booking company, 11 three- and four-star hotels and a hotel management company. In pursuit of a green and sustainable tourism business, Thien Minh Group has committed to applying IFC’s Excellence in Design for Greater Efficiencies Green Building Certification System in its new hotels with the aim of reducing energy, water, and material consumption by at least 20 per cent compared with similar buildings.