VietinBank Hoi An Branch has announced the sale of the collateral assets of Hoang Ngoc Phat Tourism Service Company, including the right to use 636.6m2 of land, the hotel, and all the equipment attached to the land in Tan An ward, Hoi An City, Quang Nam province.
It is known that this is the Le Pavillon Paradise Hoi An Hotel & Spa, owned by Hoang Ngoc Phat Company. The hotel is built on an area of 381.2m2, with a total floor area of 2,657m2, and a swimming pool area of 120.7m2.
The starting price for these assets is VND 110 billion, excluding taxes, fees, charges, and other expenses (if any). The buyer of the assets must pay these amounts to transfer ownership of the assets in accordance with the law.
It is known that the hotel is one of the three collateral assets that this company mortgaged for a loan at VietinBank Hoi An.
The remaining two collateral assets for Hoang Ngoc Phat’s loan are all the equipment attached to the Le Pavillon Paradise Hoi An Hotel & Spa and the right to use 100m2 of land and assets attached to the land in Trang Soi block, Thanh Ha ward, Hoi An City, Quang Nam province.
 The hotel is being offered for sale by the bank. Photo: Le Pavillon
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Hoang Ngoc Phat Company is represented by Do Nhu Hoang as the legal representative. Hoang is also a representative at Hoang Nhu Co., Ltd., Hoang Hung Phat Trading and Tourism Services Co., Ltd.
In a debt sale notice issued by the bank in September last year, the estimated total debt value of Hoang Ngoc Phat as of September 11, 2023, is VND 141 billion, including a principal debt of VND 108 billion, an interest debt of VND 32.37 billion, and a penalty interest of VND 134 million.
In November 2023, VietinBank previously auctioned another asset of a related business, Le Pavillon Hoi An Central Luxury Hotel & Spa.
The hotel is located on an area of 847.1m2 of land in Ngoc Thanh block, Cam Pho ward, Hoi An City, Quang Nam province. This is the collateral asset of Hoang Hung Phat Company. The hotel has 6 floors, a total construction area of 3,841m2, and a building density of 60%. This is a resort with 84 rooms, situated in a prime location next to Bay Mau coconut forest, just over 1km from Hoi An ancient town and 3km from An Bang beach. The starting price at that time was VND 92 billion.
In addition, VietinBank Hoi An also announced the auction of another asset under the Le Pavillon Hoi An brand, which is the Le Pavillon Hoi An Square Luxury Hotel.
This is the collateral asset of another ecosystem company, Hoang Lien Phat Tourism Service Company, also represented by Do Nhu Hoang.
Le Pavillon Hoi An Square Luxury Hotel is located on an area of 613.8m2 of land in Ngoc Thanh block, Cam Pho ward, Hoi An City. This is a 7-story hotel with a total construction area of 3,231m2 and a building density of 60%. The starting price for this asset in the November 2023 auction notice is VND 97.424 billion.
Tuan Nguyen
