Vemanti's VinHMS Expands Regional Presence In Thailand, Cambodia, and the Philippines
Vemanti Group's subsidiary, VinHMS, has expanded its regional presence in Southeast Asia, adding new customer deployments in Thailand, Cambodia, and the Philippines. This expansion brings VinHMS's operations to five countries, including Singapore and Vietnam. The company's CiHMS platform has been implemented in various hotels, including Hotel Zing in Thailand, an undisclosed client in Manila, and the Elite Hospitality and Management group in Cambodia.
VinHMS's technology enables hotels to unlock new revenue streams through additional products and improved guest experiences. The platform's flexibility allows it to adapt to both large 5-star hotels and smaller budget accommodations. This expansion aligns with Vemanti's vision of delivering cutting-edge hospitality solutions across Southeast Asia and is expected to drive strong sales growth in the second half of the year.
- Expansion into three new countries: Thailand, Cambodia, and the Philippines
- Partnerships with prominent hotel chains in each new market
- Flexibility of CiHMS platform to serve both luxury and budget hotels
- Addition of 3 more hotel clients in Vietnam in June
- Anticipated strong sales growth in the second half of the year
- None.
IRVINE, Calif., July 16, 2024 (GLOBE NEWSWIRE) -- Vemanti Group, Inc. ("Vemanti" or the "Company") (OTCQB: VMNT), a technology holding company, today announced the regional expansion of its wholly-owned subsidiary, VinHMS Pte. Ltd. (“VinHMS”), with new customer deployments in Thailand, Cambodia, and the Philippines. As the hospitality landscape continues to evolve, the Company has added a new ground-up revenue strategy focusing on near-term sales opportunities in potential markets with smaller customers to build momentum and drive larger sales and widespread adoption. These achievements underscore the Company commitment to growing its regional presence and solidifying its role as a leader in hospitality technology across Southeast Asia.
With these milestones, VinHMS now operates in five countries: Singapore, Vietnam, Cambodia, Thailand, and the Philippines. Renowned for its innovative CiHMS platform, VinHMS has revolutionized hospitality management through advanced digital solutions. This expansion brings VinHMS's state-of-the-art technology to a broader audience, enabling hotels and hospitality businesses to unlock new revenue streams through additional products and improved guest experiences without structural disruptions.
In Thailand, VinHMS has partnered with Hotel Zing (“Zing”), a prominent name in the local hospitality industry for budget-minded travelers, to implement its cutting-edge CiHMS platform in 3 locations in Pattaya. In the Philippines, VinHMS has secured a pilot launch in Manila with an undisclosed client known for their strategic locations and excellent value throughout Asia, with the goal of full deployment in all properties. In Cambodia, VinHMS has been selected by the award-winning Elite Hospitality and Management (“EHM”) group to enhance their hospitality operations with advanced digital solutions for their luxury-focused portfolio starting with the Caravan Hotel in Phnom Penh. These customer wins highlight the flexibility and modularity of the CiHMS platform, which can seamlessly adapt to the needs of both large 5-star hotels and smaller budget hotels, ensuring top-notch service regardless of the hotel's scale.
"We are thrilled to take this significant step towards regional growth," said Hoang “Eric” Nguyen, CEO of Vemanti. "Our expanded footprint into Thailand, Cambodia, and the Philippines aligns with our vision of delivering cutting-edge hospitality solutions across Southeast Asia. By leveraging our advanced CiHMS platform, we aim to support local hospitality businesses in achieving new heights of success, whether they are upscale luxury resorts or budget-friendly accommodations."
This accomplishment not only highlights VinHMS's increasing market presence but also brings long-term strategic value by adding smaller hotel customers. These relationships provide a strong foundation for growth, demonstrating the scalability and adaptability of the CiHMS platform. One of the biggest challenges for hotel operators is increasing the top line through high-margin products without operational disruptions. With CiHMS, hotels can now open up new revenue streams by allowing their guests to book and pay directly for outside value-added services like spa treatments, fitness classes, guided tours, transportation, dining reservations, entertainment tickets, childcare, medical services, special celebrations, and recreational activities. This integrated approach enhances guest satisfaction and increases the hotel's revenue without significant infrastructure changes.
By serving a diverse range of hospitality businesses, VinHMS is well-positioned to capture a broad market share and drive substantial new revenue streams. Along with the regional expansion, it also added 3 more hotel clients in Vietnam in June. The Company anticipates strong sales growth in the second half of this year, driven by a diverse product range with competitive pricing targeting a larger customer base in key existing and new markets in Southeast Asia.
About Vemanti
Vemanti Group, Inc. is a diversified technology holding company with a focus on the emerging markets of Southeast Asia. We operate across various sectors of innovative leading-edge digital services. We seek growth through strategic partnerships, joint ventures, or mergers and acquisitions with established businesses. By leveraging synergies and complementary strengths of these relationships, we look to diversify and expand our market reach. One of the key aspects of our strategy is also investment in promising startups and early-stage companies that demonstrate potential for disruption. Ultimately, as a publicly traded company, we're committed to creating long-term value for our shareholders while actively seeking out new opportunities. Learn more at: https://vemanti.com
About VinHMS
VinHMS Pte Ltd (“VinHMS”) is a Singapore-based technology company specializing in cutting-edge products and solutions aimed at optimizing business operations for customers in the hospitality industry. VinHMS's comprehensive solution set comprises of CiHMS, CiAMS, CiTMS, and CiTravel. The flagship product is the complete hospitality management platform CiHMS, which is capable of handling all operational needs of 4-star to 5-star hotels and hotel chains. VinHMS pursues the mission of transforming hospitality operations through technology innovations. Learn more at: https://vinhms.com
About Zing Hotel
Hotel Zing is a prominent name in Thailand's hospitality industry, catering to budget-minded travelers. Known for providing excellent value, Hotel Zing offers comfortable and affordable accommodation in convenient tourist locations. Learn more at: https://www.hotelzing.net/
About EHM
Elite Hospitality and Management (EHM) is an award-winning group based in Cambodia, offering a portfolio of luxury hotels and resorts. EHM is dedicated to delivering exceptional hospitality experiences through advanced digital solutions and superior service standards. Learn more at: https://ehmcambodia.com/
Legal Disclaimer
This press release may include, and oral statements made from time to time by representatives of the Company may include, “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding possible business combinations and the financing thereof, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company’s management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company’s filing with the Securities and Exchange Commission (“SEC”). All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s filings with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Contact Information
Vemanti Group, Inc.
Investor Relations
+1.949.559.7200
ir@vemanti.com
FAQ
What new countries has VinHMS expanded into according to the July 16, 2024 press release?
How many countries does VinHMS now operate in after the expansion announced on July 16, 2024?
What is the stock symbol for Vemanti Group, Inc. as mentioned in the July 16, 2024 press release?
Which hotel chain in Thailand has partnered with VinHMS as announced on July 16, 2024?
What is the name of VinHMS's hospitality management platform mentioned in the July 16, 2024 press release?
