The sale would result in an internal rate of return of 23 percent for VinaCapital after three years of investment. 

Since VinaCapital bought 70 percent of stake in the French-designed hotel in June 2006, the group helped upgrade the hotel’s operations, thus posting a 29.5 percent growth in revenue in two years, said Stephan O’Gray, Managing Director of VinaCapital Hospitality. 

The hotel’s revenue in 2008 reached US$9.5 million. 

VinaCapital, one of Vietnam’s largest asset managers, is now managing a total of over US$1.6 billion. 

VNA