Japan’s travel conglomerate to join hotel project in Khanh Hoa
Hideo Sawada, Chairman of H.I.S, a leading travel conglomerate in Japan, has recently confirmed the group will take part in a hotel and resort project in Cam Ranh city, the central coastal province of Khanh Hoa.
 |
He said H.I.S will work with a Vietnamese group to develop a US$1.8 billion resort complex with 5-6 hotels, one or two of which to be built by the Japanese firm.
The main investor in Vietnam will build a large-scale theme park inside the complex similar to Huis Ten Bosch Park in Nagasaki prefecture in Japan, he noted, adding that the Huis Ten Bosch attracts about 3 million visitors and generates US$89.5 million in revenue every year.
In many developing countries, rising incomes result in more demand for major entertainment centres. The project will be a success if there are at least 10 million people living in the neighbourhood, because local residents normally account for 60 – 70% of visitors to such a park, he explained.