Tran Hong Quan Trading Company Limited (Cong Ty Tnhh Thuong Mai Tran Hong Quan) (Vietnam)

Created in 2000, previously, the subject operated in two main areas as trading petroleum gas (LPG) and short-stay services. However, currently, the subject only concentrates to manage Hyatt Regency West Hanoi Hotel that has changed name from Crown Plaza West Hanoi Hotel since 15 Aug 2020.  Trading petroleum gas (LPG) operation was transferred to related company - TRAN HONG QUAN PETROLEUM COMPANY LIMITED. Activities of the subject's branches have gradually transferred to this related company since the end of 2018 as well.By 2020, the tourism and hotel industry in the world in general and Vietnam in particular, have been affected seriously by Covid-19. The number of both domestic and foreign tourists slump. Currently, the average occupancy rate for rooms is low, with 1-5 star hotels estimates only 10.6%, downs 53.4% over the same period in 2019. Specifically, Lotte Hotel reached 30%, Metropole Hotel 25%, Hyatt Regency West Hanoi (formerly Crowne Plaza West Hanoi) 18% ... or Daewoo Hotel only reached 7% of room capacity. It can be seen that this is difficult period for not only the subject but also the whole industry. Noticeable point is that the subject has outstanding liabilities with Tax Department (for details please see at Negative Payment Records).