Sun Group

What Sun Group does

Sun Group is a privately held Vietnamese conglomerate (founded 1998 in Ukraine, returned to Vietnam 2007, headquartered in Hanoi with regional offices in Ho Chi Minh City, Da Nang, and Phu Quoc) that operates an integrated destination development platform spanning six business lines: real estate (Sun Property), entertainment and hospitality (Sun World theme parks, Sun Hospitality), infrastructure investment (airports, highways, urban projects), aviation (Sun PhuQuoc Airways, Sun Air, Sun Airport Corporation), healthcare (SunGroup Healthcare), and performing arts (Sun Symphony Orchestra). The company develops, owns, and master-plans large-scale resort ecosystems—anchored in Phu Quoc, Da Nang, Sa Pa, Ha Long, Quảng Ninh, and Thanh Hóa—bundling airports, branded hotels (under Marriott, Accor, Hilton, IHG), cable cars, theme parks, golf courses, residential real estate, and hospitals within single integrated geographies. It serves luxury leisure travelers, real estate investors, corporate and MICE clients, international tourists, and aviation travelers.

The technology stack includes the Visit Vietnam AI- and blockchain-powered national tourism platform (co-developed with Vietnam's National Authority of Tourism, National Data Association, and Visa; launching Q2 2026), the NDAChain national blockchain (49 validator nodes, Proof-of-Authority consensus with Zero-Knowledge Proof, up to 3,600 TPS), and automated passenger-processing infrastructure at Phu Quoc International Airport (150 self-service check-in kiosks, 100 bag-drop units, 38 biometric-enabled boarding gates, scalable to 50 million passengers). Sun Group operates or co-develops more than 9 Sun World theme parks nationwide, ~10,500 hotel rooms through Marriott and Accor partnerships (8 and 7 brands respectively), and an aviation fleet anchored by an order for up to 40 Boeing 787-9 Dreamliners—the largest wide-body order in Vietnamese aviation history.

The business model blends recurring operations (hospitality management fees, airline fares, theme park admissions, airport operations) with episodic real estate licensing (Sun Urban City, Sun Grand City, Sun Heritage Hội An, Sun Cosmo Village Nha Trang) and large infrastructure concessions. Go-to-market combines enterprise partnerships with global hospitality and aviation brands (Marriott, Accor, Hilton, Boeing, Changi Airports International, HAECO, Japan Airlines, Visa, Amadeus, Sabre), direct sales forces for real estate, and digital distribution through the Visit Vietnam platform and loyalty programs (Marriott Bonvoy 270M members, Accor ALL 110M+ members). Notable recent transactions include the ~£100m acquisition of Northern Superchargers (rebranded Sunrisers Leeds), a $2.3B MOU with Gold Mantis for APEC 2027 facilities, and a $360M MRO joint venture with HAECO, JAL, and Toyota Tsusho at Van Don Airport.

Name

Sun Group

Legal name

Tập đoàn Sun Group

Website

https://sungroup.com.vn

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Sun Group is a privately held Vietnamese conglomerate that develops and operates integrated tourism, hospitality, real estate, aviation, and entertainment destinations—anchored by Phu Quoc International Airport, Sun PhuQuoc Airways, ~10,500 hotel rooms under Marriott/Accor, and nine Sun World theme parks—serving luxury leisure travelers, international tourists, real estate investors, and MICE clients.

Ownership category

akta.pro rank

Product category

Integrated Tourism and Destination Development

NAICS

Traveler Accommodation (7211), Nature Parks and Other Similar Institutions (71219)

SIC

Hotels & Motels (7011)

akta.pro primary industry

Beachfront & Coastal Full-Service Hotels (THAGAAAI)

akta.pro secondary industry

Luxury Beachfront & Waterfront Villas (THAMAEAE)

Keywords

• Integrated resort development
• Theme park operations
• Commercial aviation services
• Premium real estate
• Tourism infrastructure

Headquarters

HQ city

Da Nang

HQ country

Vietnam

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Hospitality and Resort Operations: Revenue from hotel and resort operations managed by international operators (Marriott, Accor, Hilton) with Sun Group as master developer and property owner. Includes room revenue, food and beverage, and ancillary hospitality services.
2. Real Estate Development and Sales: Sale of premium residential and resort properties including Sun Urban City, Sun Feliza Suites, Sunset Town, and other mixed-use developments integrated with tourism destinations.
3. Aviation Services: Revenue from Sun PhuQuoc Airways (resort airline) and Sun Air (private jet/charter services) including passenger fares, cargo, and ancillary services. Boeing order for up to 40 787-9 Dreamliners supports long-haul expansion.
4. Infrastructure Investment and Development: Development and operation of airports (Phu Quoc, Van Don), cruise ports (Ha Long), highways, and urban infrastructure projects, potentially through government concessions or private investment structures.
5. Entertainment and Theme Parks: Sun World branded theme parks and entertainment complexes including Ba Na Hills, Fansipan Legend, Ha Long, and water parks generating admission fees and per-capita spending from visitors.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Sun Group is a Vietnamese master developer of integrated tourism destinations, developing and operating a portfolio of premium real estate (Sun Property), nine Sun World theme parks, internationally branded resorts and hotels (with Marriott, Accor, Hilton, IHG), commercial and private aviation (Sun PhuQuoc Airways, Sun Air), Phu Quoc International Airport operations, and supporting healthcare and entertainment assets. Its unified digital offering, the AI- and blockchain-powered Visit Vietnam national tourism platform, integrates automated trip planning and secure booking across the destination ecosystem for international travelers to Vietnam.

Product overview

Sun Group is a diversified Vietnamese conglomerate operating across tourism, aviation, real estate, healthcare, and performing arts. Its portfolio is organized into distinct divisions — Sun World (theme parks and tourist destinations), Sun Property (residential and resort real estate), Sun Airport (airport management), Sun Air (private aviation), Sun PhuQuoc Airways (commercial airline), Sun Hospitality (hotel operations), Sun Healthcare (medical facilities), and Sun Symphony Orchestra (performing arts) — unified by the Visit Vietnam national tourism platform which serves as a digital gateway for international travelers. The group operates multiple theme parks and destinations, manages Phú Quốc International Airport, owns a commercial airline fleet of Boeing aircraft, develops integrated resort and residential properties, and is expanding into healthcare infrastructure. The product architecture is a multi-platform, multi-brand portfolio spanning physical destinations and digital services.

Differentiator

Problem solved

Functional benefit

Brands

• Sun World: Theme parks and entertainment complexes network, including Sun World Ba Na Hills, Sun World Fansipan Legend, Sun World Ha Long, Sun World Hon Thom, Sun World Ba Den Mountain, Sun World Cat Ba, Sun World Ha Nam, Sun World Sam Son, and Sun World Vung Tau.
• Sun Property
• SunGroup Healthcare
• Sun Hospitality
• Sunair
• Sun PhuQuoc Airways (SPA)
• Sun Airport Corporation
• Sun Symphony Orchestra
• Beloved Vietnam
• Visit Vietnam Platform

Products and services

• Sun World Sun World is Sun Group's entertainment brand encompassing 9 theme parks, cable car systems, and tourist destinations across Vietnam, including cultural-themed parks, water parks, and outdoor adventure parks at locations such as Da Nang, Hoi An, Ha Long, Phu Quoc, Fansipan, and Ba Den Mountain. Target customers are domestic and international leisure travelers and families.
• Sun Property Sun Property is Sun Group's premium real estate development division focused on residential, resort, and mixed-use property projects across Vietnam's key tourism and urban destinations, including Sun Grand City, Sun Urban City, Sun Cosmo Village, Sun Heritage, and Sun Onsen Life Villa developments. Target customers are high-net-worth individual investors, second-home buyers, and family offices.
• Sun PhuQuoc Airways (SPA) Sun PhuQuoc Airways is Sun Group's full-service commercial airline operating under a 'resort-in-the-sky' concept, with Boeing 787-9 Dreamliner aircraft and a network of 11 domestic routes connecting Vietnamese economic and tourism centers. Target customers are leisure and business travelers, with integrated booking via Amadeus/Sabre GDS, 2C2P, and M-PAY.
• Sun Air (Sunair) Sun Air is Sun Group's private aviation brand offering premium private jet charter, fractional ownership, and flight services within Vietnam and the broader Asia-Pacific region. Target customers are high-net-worth individuals, corporate executives, and luxury leisure travelers.
• Sun Airport Corporation Sun Airport Corporation is Sun Group's airport management subsidiary operating Phu Quoc International Airport (24M annual passenger capacity, scalable to 50M) with 150 check-in kiosks, 100 bag-drop units, and 38 biometric boarding gates, integrated with SITA and Changi Airports International automation systems. Target customers are domestic and international airline passengers and government stakeholders.
• Sun Hospitality
• Sun Healthcare Sun Healthcare is Sun Group's healthcare division developing hospitals, medical facilities, and wellness services across Sun Group's resort and urban destinations, including the Sun Group International Hospital in Phu Quoc City providing international-standard medical treatment facilities. Target customers are medical tourists, resort guests, and local residents.
• Sun Symphony Orchestra
• Visit Vietnam Platform Visit Vietnam is Sun Group's national tourism e-commerce platform developed in partnership with the Vietnam National Authority of Tourism, National Data Association, and Visa, enabling AI-generated personalized travel itineraries, automated trip planning, and blockchain-secured booking for international travelers to Vietnam. Target customers are international tourists planning visits to Vietnam.
• Fansipan Legend Cable Car
• Sun Grand City Phú Quốc Sun Grand City Phú Quốc is a luxury beachfront residential project in Phú Quốc offering premium coastal living with oceanfront positioning and high-end amenities, integrated with the destination's tourism ecosystem. Target customers are high-net-worth individual buyers and second-home investors.
• Sun Onsen Life Villa Phú Quốc Sun Onsen Life Villa Phú Quốc is a premium resort development in Phú Quốc featuring villa-style accommodations and onsen (hot spring) wellness facilities. Target customers are affluent wellness travelers and resort property buyers.
• S Golf Phú Quốc S Golf Phú Quốc is a world-class 18-hole golf course with championship-standard facilities, designed for both professional tournaments and leisure golfers. Target customers are domestic and international golf tourists and premium resort guests.
• Rakxa Residences Đà Nẵng Rakxa Residences Đà Nẵng is a 5-star premium beachfront resort in Đà Nẵng operated in partnership with RAKxa Medical Group, combining wellness and medical hospitality services. Target customers are wellness and medical tourism travelers.
• Phú Quốc United Center Phú Quốc United Center is an integrated resort complex in Phú Quốc combining JW Marriott Phú Quốc, branded residences, Phú Quốc United Center shopping mall, and New World Phú Quốc hotel. Target customers are luxury leisure travelers, MICE groups, and resort property buyers.

Quantifiable outcome

• Phu Quoc attracted 2.2 million international arrivals in 2025, a 25% year-over-year increase, with Sun Group capturing 44% of Korean tourists
• +3 more outcomes

Named customers8 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability4 records

Feature3 records

Partnerships

17 partnerships are on record, tiered flagship, core, strategic and support.

• AccorflagshipStrategic or Co-development Partner · 7 July 2026Expanded partnership adding nearly 6,000 hotel rooms and serviced apartments across Sofitel, Swissôtel, TRIBE, SO/, MGallery, Grand Mercure, and ibis Styles brands at Phu Quoc and Da Nang locations. TRIBE and SO/ brands debuting in Vietnam for the first time. Over decade-long partnership relationship.
• HAECO (Hong Kong Aircraft Engineering Company)coreStrategic or Co-development Partner · 16 June 2026$360 million joint venture for aircraft MRO facility at Van Don Airport. 20-hectare site accommodating 4 wide-body and 2 narrow-body aircraft. Targeting operations by 2028 to become one of Vietnam's largest aircraft maintenance hubs.
• Japan AirlinescoreStrategic or Co-development Partner · 16 June 2026Strategic partner in $360 million MRO facility joint venture at Van Don Airport. JAL bringing expertise in aircraft maintenance operations.
• Toyota Tsusho CorporationcoreStrategic or Co-development Partner · 16 June 2026Strategic partner in $360 million MRO facility joint venture at Van Don Airport. Toyota Tsusho contributing supply chain and operational expertise.
• GMR Group (India)strategicStrategic or Co-development Partner · 7 May 2026Cooperation agreement signed at Mumbai business forum covering airport infrastructure, aviation, and tourism development. Part of broader Vietnam-India bilateral trade and investment expansion.
• National Data Association (Vietnam)coreStrategic or Co-development Partner · 25 April 2026Co-development of Visit Vietnam national tourism e-commerce platform with AI and blockchain capabilities for automated trip planning and secure booking. Platform scheduled for Q2 2026 launch.
• SITAcoreTechnology or Integration · 21 April 2026Technology partner for transforming Phu Quoc Airport into next-gen self-service hub with automated check-in, baggage drop, boarding, and biometric systems. SITA designated as strategic technology partner for broader airport transformation initiative across Vietnam targeting 5-Star Skytrax standard.
• Gold Mantis (China)coreStrategic or Co-development Partner · 14 April 2026$2.3 billion memorandum of understanding (2026-2031) for BIM and integrated interior design solutions for key national projects, particularly APEC 2027 Conference facilities in Phu Quoc. Gold Mantis has held top position in China's architectural design sector for 23 consecutive years.
• WhiteWaterstrategicStrategic or Co-development Partner · 31 March 2026Water park attractions development at Sun World Vũng Tàu featuring record-breaking rides: Asia's first Mini Blaster (world's longest water coaster for children at ~100m), Asia's first Wall Runner (IAAPA Brass Ring Award winner), and world's largest AquaForms structure (1,800+ sqm with 132 play features).
• Marriott InternationalflagshipStrategic or Co-development Partner · 25 March 202610-hotel partnership with approximately 4,500 rooms across Phu Quoc and Vung Tau, featuring 8 Marriott brands including W Hotels and Moxy Hotels debuting in Vietnam. Properties opening 2026-2030, expanding Marriott's Vietnam portfolio to 42 hotels.
• Changi Airports InternationalcoreTechnology or Integration · 21 March 2026Airport operation partnership at Phu Quoc International Airport targeting 'Changi standards.' CAI provides design advisory, operational planning, system implementation, and full-scale management. Expansion includes second runway, new Terminal 2, and VIP terminal.
• 2C2PsupportTechnology or Integration · 20 March 2026Payment orchestration solution (PACO) provider for Sun PhuQuoc Airways enabling cards, wallets, QR payments, and direct debit for online flight bookings. PCI DSS Level 1 certified and integrated with Amadeus and Sabre.
• M-PAYsupportTechnology or Integration · 20 March 2026Payment technology partner for Sun PhuQuoc Airways flight bookings, complementing 2C2P's payment orchestration solution.
• BoeingflagshipStrategic or Co-development Partner · 18 February 2026Up to 40 Boeing 787-9 Dreamliner order valued at $22.5 billion. Largest wide-body aircraft order in Vietnamese history. Sun PhuQuoc Airways fleet expansion to support international route development including routes to Central Asia, Eastern Europe, Australia, and Middle East.
• Keppel CorporationsupportStrategic or Co-development Partner · 1 February 2026Infrastructure development partnership in Vietnam. Nature of specific projects not detailed in available sources.
• VisacoreTechnology or Integration · 20 December 2025Digital payment technology integration for Visit Vietnam tourism platform. Visa contributing international payment data, security standards, and AI-powered payment technology for personalized travel recommendations and secure payment options.
• EHL Group (Swiss Education)strategicStrategic or Co-development Partner · 9 September 2025Partnership to develop Sun Tourism Academy in Vietnam. EHL (known as 'Harvard of global hospitality industry') supporting international-standard training programs linking theory with practical experience. Academy serves Sun Group facilities and Vietnam's broader tourism industry.

Scale indicators13 records

Recent moves11 records

Expansion highlights7 records

Direct peers

• Minor International (MINT): Thai hospitality and lifestyle conglomerate owning Anantara, Four Seasons (managed), NH Hotel Group stake, and a restaurant portfolio — a comparable Asia-based multi-brand hospitality and consumer ecosystem built around destination experiences.
• Genting Group: Malaysian-listed integrated resort conglomerate operating casinos, theme parks (Genting SkyWorlds), hotels, and cruise lines — globally the most architecturally similar operator to Sun Group's destination-development flywheel.
• Banyan Tree Holdings: Singapore-headquartered integrated luxury resort and spa developer operating branded residences, hotels, and destination retreats across Asia — closely comparable as an Asian luxury destination and mixed-use resort operator.
• Vingroup (Vinpearl / VinWonders): Vietnam's largest private conglomerate, operating Vinpearl resorts, VinWonders theme parks, Vinhomes real estate, and VinFast — the closest analog to Sun Group's tourism-hospitality-real estate-aviation integrated model within Vietnam.
• Archipelago International: Indonesia-based hotel management group operating 200+ properties across Southeast Asia under multiple brands — directly comparable as a Southeast Asian hospitality operator with multi-brand and franchise-style partnerships.

Broad incumbents

• City Developments Limited (CDL): Singapore real estate and hotel group operating Millennium & Copthorne brands globally — comparable as a Southeast Asian conglomerate combining property development and hospitality operations.
• Shangri-La Hotels and Resorts: Hong Kong-based owner-operator of luxury Asian hotels and integrated resorts with strong Mainland SE Asia footprint — comparable as a regional full-service luxury lodging brand competing for the same premium travel segment.
• Melco Resorts & Entertainment: Hong Kong/Manila-headquartered integrated resort operator with Macau and Cyprus flagship properties (City of Dreams, Studio City) — relevant for its premium integrated-resort positioning in Asia, though focused on gaming.

Others

• CapitaLand (Ascott / Ascott Trust): Singapore-listed real estate group with hospitality (Ascott serviced residence) and integrated development arms across Asia — relevant as an Asian large-scale mixed-use developer with hospitality exposure, though more institutional than Sun Group.
• AirAsia (Capital A): Malaysian low-cost carrier ecosystem that has expanded into hotels (santan), tours, and fintech — adjacent comparable for Sun Group's strategy of building a tourism-and-travel-services ecosystem anchored on an airline.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/sungroupvietnam
• LinkedInlinkedin.com/company/sungroupcorporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sun Group