Military Bank provides 900 billion VND credit capital for new 5-star resort in Khanh Hoa

The SunBay Cam Ranh Resort & Spa project has a total investment capital of about 1,400 billion VND, invested by Crystal Bay Group and its partners Dai Quang Minh Joint Stock Company, Focus Vietnam Holding Company, Vinhland Company. The project started construction in July 2018 and is expected to officially come into operation at the end of 2019.

Credit provision signing ceremony between Military Bank and Crystal Bay Group. Photo: PV

The project was approved by the Khanh Hoa Provincial People's Committee on an area of ​​14.7 hectares, with a 400m long coastline. The project is divided into 2 construction phases; phase 1 is completed with 206 villas, 272 hotel rooms and 1 water park with entertainment facilities such as bird garden, outdoor fish pond, 2 seafood restaurants... In phase 2, the project launches a bustling commercial center, satisfying the entertainment and shopping needs of tourists.

Military Bank is the leading unit in financing large tourism projects in Khanh Hoa. Previously, this bank provided capital for Cam Ranh Riviera Beach Resort & Spa (also a unit of Crystal Bay Group), this is the first 5-star resort project operating in Bai Dai, Cam Ranh since 2013 with a room occupancy rate of over 90%, welcoming hundreds of thousands of international visitors - especially Russian tourists - to relax every year.

Nam Hung Cam Ranh project is jointly implemented by Tecco and Crystal Bay. Photo: PV

With a special strength in the flow of Russian tourists to Vietnam, in 2018, Crystal Bay contributed more than 360,000 arrivals, accounting for about 60% of the market share of Russian tourists to Vietnam, using 4.3 million rooms/nights of hotels and resorts in Nha Trang, Ninh Thuan, Binh Thuan, Phu Quoc... Also in 2018, Crystal Bay used 18 charter flights with more than 1,500 international flights.

Continuing the tourism investment and development strategy, in 2019 Crystal Bay will complete its tourism ecosystem including: transportation, accommodation, entertainment, shopping...

SunBay Cam Ranh Resort & Spa continues to be a new step forward for Crystal Bay, contributing to Nha Trang, Khanh Hoa tourism with attractive products, combining high-quality resorts with entertainment and commerce.

According to statistics, Khanh Hoa currently has 39,400 hotel rooms in operation, and there will be about 10,000 more rooms under construction, increasing the number of hotel rooms and resort apartments in Khanh Hoa by more than 4 times in the past 7 years. The number of hotel rooms is being invested mainly in the center of Nha Trang city.

Perspective of the project's water park. Photo: PV

Currently, investors in Nha Trang mainly focus on investing in accommodation facilities. The number of hotel rooms is increasing rapidly, while the lack of tourism products that meet the diverse needs of tourists such as theme parks, performing arts parks, duty-free shopping areas... makes Nha Trang tourism unbalanced in terms of development space, infrastructure, and tourism products.

According to experts, this reality has led to a major change in the itinerary of Russian tourists – the “traditional” tourist stream of Nha Trang, Khanh Hoa. Normally, 80% of Russian tourists passing through Cam Ranh airport stop in Khanh Hoa, 20% go to Binh Thuan. In 2018, for the first time, the market saw that during the peak season, 53% of Russian tourists went to Binh Thuan, only 47% stayed in Nha Trang.

Bird garden - a part of the project. Photo: PV

That reality puts a demand on the tourism market, Khanh Hoa needs more diverse products, which are large-scale tourist areas, resorts, hotels integrating accommodation and entertainment services such as sea parks, water parks, theme parks, commercial areas, shopping... to enhance the experience for tourists. The SunBay Cam Ranh Resort & Spa project is the product that meets those needs, with full self-contained facilities for tourists.

The active revival of the Nam Hung Cam Ranh project (the predecessor of SunBay Cam Ranh Resort & Spa) and before that the Tam Huong resort project (the predecessor of Cam Ranh Riviera Beach Resort & Spa) in Bai Dai, Cam Ranh is a strategic move of Crystal Bay Group.

Up to this point, Crystal Bay has received the transfer of shares/capital contributions in many companies with slow-to-implement tourism projects.

In 2019, Crystal Bay will continue to revive the Non Nuoc Nam Song Lo tourist area project of Ban Mai Company, Vinh Hoa Lake tourist area of ​​Dong Duong Nha Trang Company, along with many projects in Ninh Thuan, Quang Ninh in the journey to create the tourism product "One vacation, two heritage areas", bringing international tourists to admire the natural wonders of Ha Long Bay, Bai Tu Long and the natural and cultural heritage of the south central region of Khanh Hoa, Ninh Thuan, Binh Thuan.

This strategy of Crystal Bay is contributing to building diverse tourism infrastructure, suitable to tourists' needs and making sustainable contributions to the tourism development of localities./.