InterContinental Hotels Group has officially announced a 51% acquisition of Regent Hotels & Resorts as a launchpad for the 6-star luxury development Regent Residences Phu Quoc, with agreement to buy the remaining 49% of shares after 2026.

This is the first project under the Regent brand in Việt Nam, the third project in the  strategic partnership between BIM Group and IHG, following Crowne Plaza Vientiane in April 2017 and InterContinental Phu Quoc Long Beach Resort, which is about to launch. The group will also launch a serviced apartment project, Holiday Inn Hotels & Suites in Laos.

BIM Group, describing itself as “standing on the shoulders of giants”, has previously partnered with ASAP Quality Accredited Operator Members Frasers Hospitality and Ascott Limited (under the Citadines brand), as well as with Hyatt Corporation.

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