Banyan Tree Signs Second Dhawa Resort in Vietnam

Banyan Tree has signed a hotel management agreement with Pegasus Investment and Consultancy to operate a new Dhawa resort in Quy Nhon, Vietnam.

Scheduled to open in 2023, the Dhawa Quy Nhon Vietnam, inspired by paddy terraces and sitting on 10.5 hectares of land, will offer 240 rooms spread out on tiered platforms in a step-down manner towards the seafront.

Mr Ho Kwon Ping, Executive Chairman of Banyan Tree Holdings Limited, said, “As the world tourism gradually rebounds, this signing marks Banyan Tree Group’s continued growth and our second Dhawa resort signed in Vietnam. The Vietnam economy has proven its resilience in the face of COVID19. This strategic partnership highlights the like-minded collaboration and entrepreneurship of two homegrown brands with strong overseas footprints. We are excited to be working alongside our fellow Singaporean company – Pegasus, on their mixed education tourism development.”

With an estimated total investment value of S$100 million, Dhawa Quy Nhon Vietnam is the second phase of Pegasus Education Tourism Development.

The development’s first phase kicked off with the opening of Outward Bound Vietnam (OBV) in 2016 and its third phase will comprise eco-residences.

Pegasus Education Tourism Development spanning about 60 hectares with its own beach front is part of Pegasus Chairman Mr Ricky Tan’s vision to combine educational facilities with resorts and residences.

Mr Tan said, “Pegasus Education Tourism Development entrenches our long-term commitment and investments in Vietnam. As a Singapore enterprise, our latest investment signals our strong confidence in Vietnam’s economic development and growth prospects.

“Following the successful operations of Outward Bound Vietnam, we are proud to be commencing the second phase of development of Pegasus Education Tourism Development with a strong partner in the internationally-recognised Banyan Tree Hotels & Resorts to manage the resort under the Dhawa brand. We will offer the first-of-its-kind resort situated in a mixed education tourism development in Vietnam.”

OBV is an outdoor experiential education campus equipped with state-of-the-art facilities and is licensed by Outward Bound International, where summer campers, corporate staff and students take part in bespoke training programmes to build character, leadership, and camaraderie. OBV has partnered leading companies, higher institutions (e.g. Republic Polytechnic in Singapore) and numerous international schools in the region.

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