PROJECT

Projects

Environmental & Social Review Summary

Project Number

45379

Company Name

Hospitality Holdings Ltd

Date ESRS Disclosed

Jun 20, 2023

Country

Singapore

Region

East Asia and the Pacific

Last Updated Date

Oct 25, 2025

Environmental Category

B - Limited

Status

Active

Previous Events

Approved : May 10, 2023
Signed : Jun 16, 2023
Invested : Nov 15, 2023

Sector

Resort Hotel (Including Lodges)

Industry

Tourism, Retail and Property

Department

Regional Industry - MAS Asia & Pac

Project Description

Crescent Point (CP) manages consumer-focused private equity funds with a geographic focus in China and Southeast Asia started in 2003. Over the last 20 years, CP has invested in excess of US$2.0 billion in over 50 companies. CP is headquartered in Singapore and has four local offices including Shanghai, HCMC, Jakarta and Manila currently.

CP is forming a hotel and resorts management platform to acquire and manage hospitality assets within large Southeast Asian countries such as Vietnam, Indonesia, Thailand and the Philippines plus other attractive hospitality markets such as Maldives.

The proposed investment is for a debt facility of up to US$100 million to support CP in the acquisition of up to three hotels in Indonesia, Maldives, Philippines, Thailand and Vietnam including a resort hotel in the Maldives on Fonimagoodhoo Island in the Baa Atoll (“Target Resort” 104,000 sqm, 129 villas including 30 overwater villas).

All the hotels under the project are already in operations and there is no additional construction activities or major rehabilitation/modification expected except minor renovations activities such as room and facility improvements, resource efficiency related enhancements and facility maintenance. IFC will help CP to implement Excellence in Design for Greater Efficiencies (EDGE) certification of the hotels under the project.

Overview of IFC's Scope of Review

IFC’s review of the proposed investment was conducted in February 2023, comprised review of environmental, health and safety (EHS) and social information provided by CP including Environmental, Social, and Governance (ESG) policy and procedures, Human Resource (HR) policies and manuals, emergency response procedures, Life and Fire Safety (L&FS) and interviews with the senior managements from CP. IFC’s team visited the hotel under the project in Maldives. Similarly, discussions were held with the hotel management teams at the hotel in charge of EHS and HR management.

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Broad Community Support

Environmental & Social Action Plan