In late 2023, sold the Hoang Anh Gia Lai Hotel to Hoan Sinh Gia Lai Investment Company, bringing an estimated profit of over VND 144 billion to HAGL (HOSE: HAG). Hoan Sinh Gia Lai was also newly established just days before taking over the management of this well-known hotel in Pleiku city.

The initial chartered capital was VND 200 billion, with its head office located on 3/2 Street, District 10, Ho Chi Minh City. The founding shareholders included Ms. Nguyen Thi Huyen, holding 51%, and Mr. Do Xuan Duc, holding 49%. Mr. Duc served as the Company’s Director and legal representative.

The new owner of Hoang Anh Gia Lai Hotel started making changes in May this year. Specifically, on May 20, Ms. Doan Thi Nguyen Nguyen (sister of Mr. Doan Nguyen Duc) took over Mr. Duc’s position. On June 10, this position was passed on to Ms. Nguyen Thi Huyen, one of the initial major shareholders of Hoan Sinh Gia Lai. On July 26, the company changed its tax address from Ho Chi Minh City to the hotel’s address at 01 Phu Dong, Phu Dong Ward, Pleiku City, Gia Lai Province. On August 2, the Company reduced its chartered capital from VND 200 billion to nearly VND 51 billion. Mr. Do Xuan Duc withdrew his capital, and Ms. Nguyen now holds 52.127%, while Ms. Huyen holds 47.873%. Three days later, on August 5, Ms. Le Thi Hoang Yen officially became the Company’s Director and legal representative.

Ms. Le Thi Hoang Yen, born in 1987, spent several years studying abroad in the UK before taking over as General Director of Muong Thanh Group from her father, Mr. Le Thanh Than (also known as “Big Cigar” tycoon), at the young age of under 30.

Muong Thanh Group’s General Director, Le Thi Hoang Yen

According to an update on the shareholder structure in mid-2020, Muong Thanh Group had a chartered capital of VND 2,698 billion, in which Mr. Le Thanh Than held 68.54%, Ms. Le Thi Hoang Yen held 19%, Mr. Do Trung Kien (Ms. Yen’s husband and Mr. Than’s son-in-law) owned 8.406%, and Mr. Le Hai An (Mr. Than’s son) owned 4.054%. As of August 2022, Muong Thanh increased its capital to over VND 2,799 billion, and this remains unchanged to the present.

Muong Thanh currently invests in and develops four hotel brands targeting different market segments: Muong Thanh Luxury, Muong Thanh Grand, Muong Thanh Holiday, and Muong Thanh. According to the Group, they have a total of 24 hotels with 1,290 rooms across 18 provinces and cities nationwide.

Thu Minh

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