Khanh Hoa authorities have agreed to an investor request for closing the Tri Nguyen Resort & Spa on Hon Mieu island, Nha Trang town after a lacklustre post-pandemic recovery.
Hai Minh Limited Company, the investor, cited impacts of the Covid-19 pandemic, complicated economic slowdown and sluggish post-pandemic recovery as the reasons for the request to close the resort.
An investment certificate was granted to the resort in 2012. The 15-hectare facility, with an investment of VND80 billion ($3.22 million), focuses on eco-tourism and underwater sports.
As of October, the investor had renovated its welcome area and kitchen, completed four bungalows, built freshwater bathrooms, restored 500 meters of the coast for phase 1, purchased equipment to serve tourists, and built a restaurant.
The south-central province, well known for the beach town of Nha Trang, earned revenues of VND11,977 billion ($481.52 million) from serving 2.29 million visitors in the first 10 months of the year, up 4.9 times and 8.2 times year-on-year, respectively, official data shows.
However, these figures were much lower than the tourism revenues of VND27,100 billion ($1.09 billion) and seven million tourists in pre-pandemic 2019.