World Bank investment arm the International Finance Corporation has earmarked US$14 million for Vietnam’s Thien Minh Group to expand its tourism business, with an emphasis on green and sustainable initiatives practices.
Thien Minh’s strategic plan is to expand its tour operating business and its network of hotel chains, and the group has committed to applying IFC’s Excellence in Design for Greater Efficiencies Green Building Certification System in its new hotels.
The certification aims to create buildings which are 20 percent more efficient than other buildings in terms of their energy and water use and material consumption.
Thien Minh’s chief executive, Tran Trong Kien, said the investment would help the group become one of the most sustainable travel companies in Asia.
Established in 1994, Thien Minh hotels attract over 200,000 visits a year. Last year, the group spent US$32 million on acquiring five new hotels in Vietnam and Laos, and began operating the Victoria Nui Sam Lodge in the Mekong Delta as well as the Emm Hotel Saigon.