Sun Group is a privately held Vietnamese developer of resorts, entertainment parks, real estate and, more recently, an airline. It owns its hotels and gives them to international operators: IHG, Marriott, Accor, Hilton, Capella and New World run its best-known properties. Its chairman since January 2019 is Dang Minh Truong. The founder, Le Viet Lam, moved to chair a “founding council”. For owners and operators, Sun Group matters because of its pipeline. Since 2022 it has announced about 14,300 keys with four global operators, and it plans about 17,400 rooms and serviced apartments in Phu Quoc alone for 2026–27.
Key facts
| Item | Detail |
|---|---|
| Legal name | Sun Group Corporation (Công ty Cổ phần Tập đoàn Mặt Trời) |
| Ownership | Private, not listed. Current shareholders are not published |
| Founded | 1998 in Ukraine. Vietnam company set up in 2007, starting in Da Nang |
| Founder | Le Viet Lam, chairman of the founding council since 2019 |
| Chairman | Dang Minh Truong, since 1 January 2019 |
| Hotel arm | Sun Hospitality Group, “a member of Sun Group” |
| Model | Develops and owns; international groups manage |
| Main destinations | Phu Quoc, Da Nang (including Ba Na Hills), Quang Ninh, Sa Pa, Hanoi |
| Operators named | IHG, Marriott, Accor, Hilton, Capella, New World, Ascott (Oakwood) |
| Announced with global operators since 2022 | About 14,300 keys (our total) |
| Flagship near-term project | Ruby Beach (Bai Dat Do), Phu Quoc, for APEC 2027 |
Who owns Sun Group?
Sun Group does not publish its shareholder register, so the honest answer is partial.
- Origins. Le Viet Lam and partners founded Sun Group in Ukraine in 1998. In 2007 he brought the business back to Vietnam, starting in Da Nang with the Ba Na Hills cable car company, which Sun Group dates to 14 September 2007.
- Founding shareholders. Under the 2016 charter capital, the largest founding shareholder was Nguyen Thi Huong Lan, Le Viet Lam’s wife, with 52.55%. Dang Minh Truong held 10.79%. Le Viet Lam was not on the founding shareholder list, CafeBiz reported in 2019.
- Capital. Sun Group raised its charter capital to more than VND 7,500bn in 2019.
- Today. We found no public filing showing the current shareholding. The 2016 split is the latest we can source.
Who is the chairman of Sun Group?
Dang Minh Truong has chaired the board since 1 January 2019. He was previously chief executive and is one of the four founding shareholders. Le Viet Lam stepped back from the chair at the same time to lead the group’s founding council. Truong signs the group’s big hotel deals: he sat beside Accor’s Sébastien Bazin for the July 2026 portfolio signing and spoke for Sun Group in Hilton’s October 2025 release.
Operating hotels and their operators
Sun Group’s own hospitality page lists nine hotels. The table adds the operator for each.
| Hotel | Destination | Operator |
|---|---|---|
| InterContinental Danang Sun Peninsula Resort | Son Tra, Da Nang | IHG, since June 2012 |
| JW Marriott Phu Quoc Emerald Bay Resort & Spa | Bai Kem, Phu Quoc | Marriott |
| Premier Residences Phu Quoc Emerald Bay | Bai Kem, Phu Quoc | Accor |
| Premier Village Phu Quoc Resort | Mui Ong Doi, Phu Quoc | Accor |
| New World Phu Quoc Resort | Bai Kem, Phu Quoc | New World Hotels & Resorts |
| La Festa Phu Quoc, Curio Collection by Hilton | Sunset Town, Phu Quoc | Hilton |
| Hôtel de la Coupole - MGallery | Sa Pa | Accor |
| Oakwood Ha Long | Bai Chay, Ha Long | Ascott |
| Capella Hanoi | French Quarter, Hanoi | Capella Hotels and Resorts |
Sun Hospitality Group’s website also lists Premier Village Danang Resort, Novotel Danang Premier Han River, Mercure Danang Ba Na Hills French Village, Serena Resort Kim Boi and Yoko Onsen Quang Hanh. That site carries a 2020 copyright, so treat it as a dated list. Sun Group does not publish keys or opening years for the portfolio as a whole.
Pipeline by operator
Sun Group has signed or announced deals with four global groups since 2022. These are the announced figures. Not all of them are hotel-level contracts.
| Partner | Announced | Keys | What it covers |
|---|---|---|---|
| IHG | June 2022 | 2,709 | Crowne Plaza (602), Holiday Inn Resort (843) and voco (648) at Ba Na Hills; Holiday Inn Resort Yoko Park Onsen (616), Quang Ninh |
| Hilton | October 2025 | About 1,800 | Conrad (250), Hilton (500) and DoubleTree (750) in Phu Quoc’s APEC precinct; LXR Da Nang Riverside (80); Hilton Quang Hanh Onsen Resort (216) |
| Marriott | March 2026 | 4,465 | Ten hotels in Phu Quoc and Vung Tau, eight brands, 2026–2030 |
| Accor | July 2026 | More than 5,300 | SO/, MGallery, Grand Mercure, TRIBE and ibis Styles in Phu Quoc; Sofitel, Swissôtel and MGallery in Da Nang |
Takeaway: Accor and Marriott hold about two-thirds of the 14,300 announced keys, so they will set the tone in Sun Group’s Phu Quoc and Da Nang projects.
Accor’s first phase names six hotels: Bana Hills Hotel Danang - MGallery Collection (250 keys), Ruby Beach Hotel - MGallery Collection (180), SO/ Phu Quoc Ruby Beach (300), Grand Mercure Phu Quoc Ruby Beach (250), TRIBE Hon Thom Phu Quoc (321) and ibis Styles Hon Thom Phu Quoc (588). Sun Group also says Rixos Phu Quoc, an all-inclusive resort under Accor and Ennismore, is due on Hon Thom in the fourth quarter of 2026.
In September 2026 Sun Group and Marriott added a framework for more brands at Ruby Beach. We covered it in Sun Group–Marriott Deal Adds to Phu Quoc’s Supply Wave.
Phu Quoc and APEC 2027
Phu Quoc is where Sun Group’s supply is concentrated. It plans about 17,400 rooms and serviced apartments there in 2026–27, across Hon Thom (about 5,500), Bai Dat Do, also called Ruby Beach (nearly 7,000 in phase 1), and Nui Ong Quan. The island had 26,461 rooms of all types at the end of 2024, the Kien Giang Department of Tourism said. The APEC Economic Leaders’ Meeting is due in Phu Quoc in November 2027.
Sun Group is building the access too. Sun PhuQuoc Airways uses the island as its hub, and Sun Group is working with Changi Airports International on a “destination airport” model for Phu Quoc International Airport.
Sun Group in Nha Trang
Sun Group’s first project in Khanh Hoa is the Nha Trang mixed-use urban area, marketed as Charmora City. It covers about 227 hectares in Nam Nha Trang ward, with investment of more than VND 17,000bn, and broke ground on 19 August 2025. Two Sun Group companies are the investors. Khanh Hoa’s construction department has cleared 507 homes there for sale.
Sun Group is also the investor in the Co Ma, Dam Mon and Tu Bong urban areas in Van Phong, and in April 2026 a Sun Group company proposed studying a 1,140-hectare urban area at Nui Co Tien, north of Nha Trang. We found no hotel brand or operator named for any of these by 6 October 2026. Sun Group is not connected to Vinpearl, which runs the Hon Tre island resorts in Nha Trang.
Recent news
- 24 September 2026: strategic cooperation framework with Marriott, signed in New York, aimed at APEC 2027 and MICE.
- 7 July 2026: portfolio deal with Accor for more than 5,300 keys in Phu Quoc and Da Nang, bringing Sofitel, Swissôtel, TRIBE and SO/ to Vietnam.
- 24 March 2026: ten-hotel, 4,465-key agreement with Marriott, including W and Moxy’s Vietnam debuts.
- 7 October 2025: five-hotel agreement with Hilton, bringing Conrad, LXR and DoubleTree to Vietnam.
- 19 August 2025: groundbreaking of the Nha Trang mixed-use urban area.
What it means for owners and operators
1. Sun Group is a brand-neutral owner
Sun Group spreads its projects across operators and brings brands into Vietnam for the first time: W, Moxy, Conrad, LXR, Sofitel, Swissôtel, TRIBE and SO/ in the last year alone. For operators, that means competing for each project. For third-party owners, it means Sun Group projects will often hold the newest flags in a market.
2. Count signed hotels, not announced keys
The 14,300 keys mix hotel-level contracts with portfolio announcements, and some have no opening dates. Owners and lenders sizing future competition should use the hotel-level lists (Marriott’s ten hotels, Accor’s six first-phase hotels, Hilton’s five) and treat the rest as intent.
3. Phu Quoc’s competitive set is being rebuilt
Several thousand Sun Group rooms are due on the island in 2026–27, under brands that compete directly for MICE and international leisure demand. Our view: existing Phu Quoc hotels should plan for life after APEC, when the island has to absorb the new supply without the summit.
4. Expect a talent squeeze
Opening teams for Conrad, The Westin, Le Méridien and Courtyard Phu Quoc are already being hired. See our jobs board for current senior roles.
FAQ
Who owns Sun Group?
Sun Group is privately held and does not publish its shareholders. Under its 2016 charter capital, the largest founding shareholder was Nguyen Thi Huong Lan, wife of founder Le Viet Lam, with 52.55%. Chairman Dang Minh Truong held 10.79%. We found no more recent public shareholding.
Who is the chairman of Sun Group?
Dang Minh Truong, since 1 January 2019. He was previously the group’s chief executive.
Who founded Sun Group?
Le Viet Lam, who started the business in Ukraine in 1998 and brought it to Vietnam in 2007.
Is Sun Group listed on the stock exchange?
No. Sun Group is a private company.
Does Sun Group operate its own hotels?
Mostly not. It develops and owns, and international groups such as IHG, Marriott, Accor and Hilton manage. Its hotel arm is Sun Hospitality Group.
Is Sun Group the same as Vinpearl?
No. Vinpearl is the hospitality company of Vingroup. See our Vinpearl profile.
Does Sun Group have hotels in Nha Trang?
Not yet. Its first Khanh Hoa project, the Nha Trang mixed-use urban area, broke ground in August 2025. No hotel operator had been named for it by 6 October 2026.
Sources and method
- History, ownership and chairman: Sun Group company history; Doanh nghiệp & Thương hiệu, 15 January 2019; CafeBiz and Znews, September 2019.
- Operating hotels: Sun Group, Entertainment – Hospitality; Sun Hospitality Group (2020 copyright); Accor listing for Premier Village Phu Quoc. The IHG management start date is from Sun Group’s IHG release.
- Pipeline: IHG, June 2022; Hilton, 7 October 2025; Marriott, 24 March 2026; Accor, 10 July 2026, and Sun Group’s version, which gives “nearly 6,000” rooms including serviced apartments. We use Accor’s “more than 5,300”.
- Nha Trang: Sun Group, 19 August 2025; VnExpress; CafeLand, 17 April 2026; Khanh Hoa Department of Construction via Người Lao Động.
- Phu Quoc figures: as sourced in our Sun Group–Marriott story.
- Our calculations: the 14,300-key total (2,709 + about 1,800 + 4,465 + more than 5,300) and the two-thirds share.
- Gaps: current shareholders; keys and opening years for the operating hotels; the status of the 2022 IHG hotels.
Data checked on 6 October 2026.