Resort operator Vinpearl sees losses triple amid Covid-19 downturn
Hotel and theme park operator Vinpearl posted a big loss for the first half of the year on a big drop in revenue due to the Covid-19 pandemic.
The Vietnamese firm recorded losses of VND5.1 trillion ($220 million), up from VND1.69 trillion a year ago.
The pandemic battered the tourism industry in Vietnam during the second quarter even though the country had initially coped well in containing the virus.
As the country shut borders in March Vinpearl closed several resorts and golf courses.
It recently raised funds of about VND865 billion through a bond issue.
It operates more than 40 hotels, resorts, theme parks and golf courses across the country with an inventory of more than 17,000 rooms.
Written by Ray Montgomery, Asia Pacific editor
TravelMole Editorial Team
Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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