Hoiana Resort and Golf announces new CEO, $1 billion expansion

February 11, 2025

Hoiana Resort and Golf announces new CEO, $1 billion expansion

Hoi An South Development Ltd (HASD), the operator of Vietnam’s luxury integrated resort Hoiana Resort and Golf, has announced the appointment of Alan Teo as its new Chief Executive Officer (CEO) who will replace the outgoing CEO Steven Wolstenholme. The operator has also confirmed an investment of $1 billion into the second phase development of Hoiana Resort and Golf, which is set to begin this year. The expansion is expected to bring significant economic benefits to the region, creating thousands of jobs and enhancing Vietnam’s position as a top-tier tourism destination.

Alan Teo, the new CEO of the company, has previously worked as COO of the Philippines-based NUSTAR resort and has joined the company at a time in its growth when that growth is accelerating, heavily underpinned by ambitious plans.

Expanding Hoiana’s offerings

The Hoiana Resort and Golf‘s phase 2 covers nearly 209 hectares. New hospitality, entertainment, and tourism infrastructure is brought to the region. Investment will be in the rapid development that HASD hopes to have by 2025. Through the expansion of this resort, there will be a creation of 2,500 direct jobs and 5,000 indirect jobs for contributing to the regional economic and social development.

The resort, already posited for its luxury casino, championship golf course, world-class hotels, and fine dining, is ready to welcome even more premium offerings. This will positively make Hoiana an even bigger international tourist destination and an icon of preference for the domestic visitor when referring to a leading integrated resort in Asia.

Leadership changes and strategic direction

The expansion is happening at a time when the company is going through key corporate restructuring. HASD announced in January that Hong Kong-based VMS Group increased its stake in the company to 75 percent. This new development initiated a leadership change as Benny Chong becomes President of HASD, President, and CEO of VMS Group. Long-standing President and CEO Steve Wolstenholme has stepped down after seven years for Alan Teo to lead this resort toward its next leg of growth.

Teo expressed enthusiasm for his new role, stating, “I am truly honoured to join the exceptional team at Hoiana Resort & Golf as CEO. Together, we will embrace innovation, continue delivering cutting-edge solutions to our clients, and explore new opportunities for growth.”

Strengthening Vietnam’s tourism industry

VMS Group, which was part of Hoiana’s original ownership structure alongside Hong Kong-listed Suncity Group and Vietnamese investment firm VinaCapital, now holds a majority stake in HASD. With this financial backing, Hoiana Resort and Golf is set to become a major force in Vietnam’s tourism industry, enhancing its reputation as a high-end destination.

The $1 billion Phase 2 investment is expected to bring long-term benefits, boosting the local economy and attracting more international visitors. With new leadership and strong financial support, Hoiana is poised to become one of Asia’s most prestigious integrated resorts in the years to come.