Minor International Plc (MINT), the hospitality company, has acquired two hotels in Vietnam for US$16 million.
The two are the 96-room Life Heritage Resort Hoi An and the 63-room Life Resort Quy Nhon.
William Heinecke, the chairman and chief executive, said the deals will strengthen Minor's presence in Vietnam, bringing the group's total properties there to four.
Life Heritage Resort Hoi An sits along the scenic Thu Bon River and within walking distance of Hoi An's ancient town, a Unesco World Heritage Site.
Life Resort Quy Nhon offers a stretch of private beach with white sand. The seaside resort is positioned to benefit from Vietnam's staggering growth in tourist arrivals, catering to both domestic and international tourists.
Both properties are recognised not just in Vietnam but also in key markets such as Germany, Britain and France.
The acquisitions will enable Minor to enter Hoi An in the central region and Quy Nhon in the south-central part of the country.
Mr Heinecke describes Vietnam as a fascinating country with a rich culture and diverse landscape. The country has seen exceptional growth and economic development in recent years.
Minor first entered the country in 1998 through a joint venture, the Harbour View Hotel Haiphong. In 2011, Minor secured the management contract of the Anantara Mui Ne Resort & Spa.
"Vietnam increasingly appeals to us as a blossoming tourist destination, and we are convinced of its bright prospects in the coming years," said Mr Heinecke.
Dillip Rajakarier, chief executive of the Minor Hotel Group, said each resort has its own charm, but both will take up the Minor brand.
Shares of MINT closed yesterday on the Stock Exchange of Thailand at 23.50 baht, up 90 satang, in trade worth 530 million baht.