Celadon International, Vietnam’s first international hospitality and real estate management firm, Thursday announced the launch of a 4-star “Exotica” resort brand in central Binh Thuan Province.

Celadon will manage the 100-room Mom Da Chim, now renamed Exotica Playa Resort.

The resort has a restaurant, a 150-seat meeting room, a business center, karaoke lounges, children’s playground, spa, gym, tennis court and two swimming pools.

Dang Hong An, deputy general director of Century 21, revealed his company had spent VND120 billion (US$7 million) to build the resort, and would invest another VND70 billion plus $1 million to upgrade facilities upon Celadon’s request.

“The upgrade will incorporate additional beachfront villas, recreation, water sports and entertainment facilities,” Celadon CEO Paul Stoll said at a signing ceremony at the Caravelle Hotel in HCMC Thursday.

He said Celadon would focus on upgrading and designing the resort, 200 kilometers north of HCMC, to make it an ideal venue for business and MICE (Meeting, Incentives, Conventions and Exhibitions) visitors.

Exotica Playa’s major target markets are Vietnam, Russia and Israel, Stoll said.

He explained that Russians, who suffer icy weather in the winter, like to travel to tropical countries like Vietnam while Israelis prefer to visit peaceful and safe countries.

Tourists from the two countries are also big spenders, he said.

Joachim Triebel, the German general manager of the Exotica Playa Resort, said “We expect guests from Russia and Israel alone to contribute to 80 to 90 percent of the resort’s turnover.”

Celadon was set up in 2005 to assist in the development and management of hotels, resorts, apartments, condominiums, offices and lifestyle malls.

Hospitality developments are managed under the luxury brand Celadon (5-star), themed brand Exotica (4-star) and budget brand Chao Inn (3-star).

Reported by Thu Thuy