Swift Networks books five-star luxury in new Vietnam deal
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Entertainment provider Swift Networks is moving into five-star hotels in Vietnam, after announcing a deal with Vietnamese systems integrator Siêu Nhật Thanh.
Siêu Nhật Thanh, more commonly known as SNT, will resell Swift’s (ASX:SW1) entertainment and Internet services for three years.
Swift sells online content and Internet connections. Earlier this year its stock jumped 18 per cent when it announced a five-year contract to provide online content and television services to IT provider DXC Technology.
The tech will be immediately deployed to 500 rooms across three Vietnamese hotels, including two five-star properties – Salinda Resort Phu Quoc Island and La Résidence Hotel & Spa.
Swift chief Xavier Kris told investors the contract win was affirmation of the company’s technology.
“We look forward to continued expansion in the Asia Pacific region, both organically and through respected reseller partners like SNT,” he said.
SNT provides internet TV, digital signage and communication infrastructure to hospitality customers throughout Vietnam and has relationships with several hotel groups as well as big tech names like IBM, Cisco, LG, Samsung and Panasonic.
Swift pointed to the huge hotel and tourism market in Vietnam as a sign of the deal’s potential impact. “With over 420,000 hotel rooms, some 75 per cent more than Australia, the Vietnamese tourism industry continues to grow at a phenomenal rate with 20 million inbound tourists expected by 2020, an increase of 100 per cent versus 2016,” the company told investors.
It’s not the first international deal for Swift. The partnership it secured late last year with AST Group has gotten them into resources and maritime clients offshore, and most recently brought them 3,000 new rooms in the defence sector.
Separately, another resale partner TriplePlay got them into oil rigs in the Gulf of Mexico in early 2018.