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Crystal Bay Vietnam, a Vietnam-based tourism real estate developer, appointed Turkish national Olgun Mert Atadan as chief executive officer to lead the company’s restructuring and efforts to stabilize its finances.
Former CEO Huynh Ngoc Duy stepped down from the top role and moved into a deputy chief executive position, according to a company statement.
Atadan took over leadership and became one of the company’s four legal representatives. Chairman Nguyen Duc Chi remained in his position, while Nguyen Thu Trang moved from deputy CEO to deputy chief financial officer.
Olgun Mert Atadan is a Turkish tourism executive with professional experience at several major international tour operators, particularly those focused on Russian outbound tourism.
He previously held roles at companies such as Anex, TUI, Pegas, and Intourist, which are among the largest tour operators serving Russian travelers and operating extensive charter and package tourism networks.
Established in 2016 by businessman Nguyen Duc Chi, Crystal Bay operates across international travel services, hotel and resort management, and tourism real estate investment, focusing on integrated tourism ecosystems that combine accommodation, transportation, and leisure services.
The company reported a net loss of more than VND41 billion ($1.58 million) in the first half of 2025, narrowing sharply from nearly VND325 billion ($12.51 million) a year earlier, while total liabilities stood at VND5.44 trillion ($209.47 million), according to Vietnamese tourism outlet The Investor.
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