VCI Global Limited Proposes Acquisition Of Resort Properties In Bali And Phuket
Portfolio Pulse from Benzinga Newsdesk
VCI Global Limited (NASDAQ:VCIG) intends to acquire the leasing rights of two resort properties in Bali and Phuket from Impiana Sdn Bhd. The acquisitions are part of VCI Global's strategy to expand in the hospitality segment within the Southeast Asia region. The growth potential in these areas is significant, with Thailand's hospitality industry expected to reach $19 billion by 2028 and Indonesia's travel and tourism sector valued at $7.5 billion to $8.0 billion in 2023.
October 06, 2023 | 12:33 pm
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VCI Global's planned acquisition of resort properties in Bali and Phuket could potentially boost its presence in the Southeast Asia hospitality industry. The growth potential in these areas is significant, which could lead to increased revenues for the company.
The acquisition of these resort properties is a strategic move by VCI Global to tap into the growing hospitality industry in Southeast Asia. Given the projected growth rates for the hospitality industry in both Thailand and Indonesia, this could potentially lead to increased revenues for the company in the future.
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