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Banyan Tree inks deal with Pegasus to manage resort in Vietnam
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Thursday, April 08, 2021, 20:00 GMT+7
Pegasus chairman Ricky Tan (left) and Vietnamese Ambassador to Singapore Tao Thi Thanh Huong. Photo: KinderWorld Vietnam
With their belief in Vietnam’s ability to control COVID-19 and recover from the pandemic’s economic fallout, Singapore-based Pegasus Investment and Consultancy JSC and Banyan Tree Hotels and Resorts have signed a hotel management agreement to open Dhawa Quy Nhon Vietnam upon the project’s completion in 2023.
The deal was inked in Singapore on Wednesday as part of the second phase of the Pegasus Education Tourism Complex for Dhawa Quy Nhon Vietnam, an eco-resort project with an estimated total investment of S$100 million (US$75 million).
Pegasus inks agreement with Banyan Tree to manage Dhawa Quy Nhon Resort 21:05 | 07/04/2021
Pegasus Investment and Consultancy JSC, part of KinderWorld Education Group, a flagship education institution from Singapore, and Banyan Tree Hotels & Resorts today signed a hotel management agreement to operate Dhawa Quy Nhon Vietnam upon the completion of the resort, expected in 2023. Â Â
Aiming to create an international tourist destination with beautiful landscape and architectural design, Dhawa Quy Nhon Vietnam will be managed by highly-acclaimed and deeply experienced Singapore hotel operator - Banyan Tree Hotels & Resorts - under its Dhawa brand.
Abdul Rashid, executive director and chief executive officer, Pegasus (left) and Eddy See, president and group managing director, Banyan Tree Holdings Limited (right) at the signing ceremony
By Kimberly Yoong, Analyst, Capital Markets at Cushman & Wakefield Hospitality - Central & Eastern, South-Eastern Europe
share this article Brand building or icon creation is a long and laborious exercise that requires consistency and continuity - that is particularly important for the niche players, whether Banyan Tree in an unchosen space or Singapore in the world stage, because it allows the brand owner to punch above his weight to have an influence larger than an enterprise would have due to its size. - Ho Kwon Ping,
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With increased connectivity, cheaper travel, and higher disposable incomes, travel and tourism had been one of the fastest-growing industries globally. Along with this growth came a proliferation of hotel brands, with the top 5 hotel companies by room count alone boasting a repertoire of almost 100 different brands, making it increasingly difficult to craft a truly distinctive brand. Now, sustaining a brand in the
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