A tour guide shows local products to foreign tourists at Ben Thanh Market in HCM City. (Source: VNA) HCM City (VNA) - Average hotel occupancy rate in Ho Chi Minh City reached 74 percent in the first quarter, increasing by 6 percentage points from the same period last year. According to a report by real estate company Savills Vietnam, average room rate rose by 4 percent to 83 USD per night, as all local three- to five-star hotels introduced higher rates for the first time in three years. The supply of hotel accommodations grew 2 percent on year, offering more than 16,500 rooms from 133 projects. Savills Vietnam said by 2020, 14 new projects will add to the market about 3,500 rooms. In the first three months of 2018, the southern economic hub welcomed 1.98 million foreign arrivals, an annual increase of 15.6 percent. Tourism services revenue earned during the period exceeded 31.7 trillion VND (1.39 billion USD), up 14.4 percent on year. The first quarter also saw 394 travel … [Read more...] about HCM City hotel market bounces back in Q1
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HCM City hotel room rates below 2014 levels
The average room rate at three to five-star hotels in HCMC was VND1.9 million per night in the first half this year, 11.3% lower than in 2014, as there were new hotels up and running in the city, resulting in price competition. A general view of the five-star Rex Hotel in downtown HCMC According to data from the HCMC Department of Tourism, this rate was 3.6% higher than in the same period last year. But in comparison to the level in the same period of 2014, it was 11.3% lower as competition among old and new hotels was growing. Total tourist arrivals to HCMC in 2016 were 1.12 times higher than in 2014, though. The department said the hotel room price in this segment in HCMC is the same as in other ASEAN markets, but higher than in Danang with US$76.94 per night and lower than in Hanoi with US$86.22 per night. Currently, the city has 2,128 hotels and other lodging facilities with more than 50,000 guest rooms. … [Read more...] about HCM City hotel room rates below 2014 levels
Bản in : Room rates at five-star hotels unlikely to rise in HCM City
With three new five-star hotels to be put into service this year, the high-end accommodation supply in Ho Chi Minh City will be abundant and the room rates may not increase, according to a local newspaper. The Saigon Times Daily quoted Tao Van Nghe, Chairman of the HCM City Hotels Association, said this southern economic hub currently has 13 five-star hotels supplying over 4,000 rooms. The average occupancy rate of such hotels was quite high last year, at 70 percent, but the room rates did not increase compared to 2012. The accommodation supply of five-star hotels will be more plentiful with the three new hotels on Nguyen Hue, Ton Duc Thang and Tran Hung Dao streets. “With the current number of tourists and businessmen, the five-star hotel segment will have sufficient rooms and it is unlikely that the room rates will rise in the new year,” Nghe told the daily on the sidelines of the grand opening of the five-star Pullman Saigon Centre on Tran Hung Dao Street recently. … [Read more...] about Bản in : Room rates at five-star hotels unlikely to rise in HCM City
HCM City hotels hit by rising competition – Hotels & Restaurants – Travel
The Hanoitimes - Both occupancy rate and revenue per available room (RevPAR) of hotels in HCM City fell slightly in the third quarter due to increase in room numbers and lower demand. Both occupancy rate and revenue per available room (RevPAR) of hotels in HCM City fell slightly in the third quarter due to increase in room numbers and lower demand. According to a survey by property services provider Savills Vietnam, the average occupancy was 60 per cent, down 2 per cent from the previous quarter and 5 per cent year-on-year. The average room rate (ARR) was at VND1.75 million (US$83)/room/ night, a slide of 1 per cent and 6 per cent and the lowest rate in the last four years. RevPAR for all three grades decreased, with the three-star segment seeing the sharpest drop of 8 per cent quarter-on-quarter, followed by 6 per cent for the four-star segment, and 2 per cent for five-star. One new four-star hotel and 95 additional rooms in an existing three-star hotel in District 1 entered … [Read more...] about HCM City hotels hit by rising competition – Hotels & Restaurants – Travel
The government willing to send a police regiment to HCM City
VietNamNet Bridge - If HCM City proposes to have an additional 1-2 more mobile police regiments, the central government is also willing to support to re-establish order and regain the confidence of the people, Deputy Prime Minister Nguyen Xuan Phuc said. Ministry of Public Security appoints 600 mobile policemen to HCM City On January 28, Deputy Prime Minister Nguyen Xuan Phuc had a meeting with the police and the People's Committee of Ho Chi Minh City on the prevention and control of crime. Reporting to the Deputy PM of the results of the one month crime attack campaign, Deputy Chairman of the HCM City People's Committee Le Minh Tri said, crime has plummeted after the campaign. "Before the New Year, we thought we would be able to crack down on crime, but to maintain this after the New Year, it should be recalculated accordingly. We cannot always use all the forces like this," Tri said. Appreciating the results of the crime suppression month of Ho … [Read more...] about The government willing to send a police regiment to HCM City