Prior to the deal, Bitexco owned a 7.5 percent stake in Huong Giang Tourist JSC, news website VnExpress said. One of the biggest hospitality businesses in the province, Huong Giang has stakes in 14 hotels, resorts and travel companies. Bitexco Group, one of Vietnam's major real estate developers, has increased its stake to 70.5 percent in a hotel and resort operator in the central province of Thua Thien-Hue, local media reported on Tuesday. Bitexco has developed more than a dozen of projects around Ho Chi Minh City, but is best known for the city's tallest skyscraper Bitexco Financial Tower. It posted a loss of VND13.7 billion (US$604,000) last year, compared to VND3.7 billion ($163,000) in 2014, according to the website.

Source: Thanhnien News July 19, 2016 11:55 UTC