VietNamNet Bridge - Da Nang City and Hoi An, the two most famous destinations for tourists in the central region, are full of hotels and resorts, leading to cutthroat competition. The number of hotel rooms is increasing Claude M. Balland has been working in the hotel/tourism industry in Vietnam for 22 years, with many years as general manager for Victoria Hoi An Resort & Spa. He noted that the number of hotel rooms is increasing more rapidly than the number of tourists. The unhealthy competition is occurring not only in Hoi An, but in Da Nang as well. The occupancy rate at accommodations in Da Nang is 40 percent on average, while the hotel room rate has fallen by 50 percent compared with one to two years ago. Nguyen Duc Quynh, deputy chair of the Da Nang Hotel Association, said that 4-star accommodations are competing fiercely with 5-star hotels and resorts by offering lower room rates, which are VND700,000-1.2 million per night cheaper. RELATED NEWS Investors … [Read more...] about Oversupply of hotels in central region leading to falling room rates
Hotel room rate
Hotel room rates expected to rise slightly in 2019
VietNamNet Bridge - The number of domestic and inbound travelers is expected to increase significantly this year, leading to an increase in hotel demand. Phan Thiet City, Vietnam Hotels in tourism sites from Nha Trang City of Khanh Hoa province in the central region to the south have quoted a slight increase in hotel room rate. Phu Quoc has over 500 hotels with more than 7,000 rooms, which received 3.9 million travelers last year, including 540,000 foreign travelers. The hotel room rate increased 5-8 percent. Phu Quoc has over 500 hotels with more than 7,000 rooms, which received 3.9 million travelers last year, including 540,000 foreign travelers. The hotel room rate increased 5-8 percent. US$1=VND23,000 RELATED NEWS Investment rate in VN hotel sector increases HCMC lacks enough hotels to accommodate tourism boom Nam Mai … [Read more...] about Hotel room rates expected to rise slightly in 2019
Hanoi, HCMC hotel rooms cheaper only than Singapore’s
By Nguyen Ha  January 15, 2019 | 04:27 pm GMT+7 A foreign woman walks past the Saigon Opera House, surrounded by several five-star hotels in downtown Saigon. Photo by VnExpress/Thanh Nguyen Hotel room rates in Hanoi and HCMC, at around $110 a night, are the second most expensive in Southeast Asia behind only Singapore. Real estate services firm CBRE Vietnam said at a recent conference that the performance of the four- and five-star hotel segments was very strong in 2018 due to limited supply but constantly increasing demand. By the end of the year the average rent in this segment reached $112.6 in Hanoi and $114.1 in HCMC. High-end rooms in Hanoi number 7,770, of which two thirds are in the five-star category, and their average occupancy rate last year was 78.4 percent. Most of them are concentrated in the downtown area and Ba Dinh, a central district where most government offices and embassies are located. CBRE said in recent years sharing economy models like … [Read more...] about Hanoi, HCMC hotel rooms cheaper only than Singapore’s
Vietnam’s five-star hotel room rate rebounds in 2017: Grant Thornton
The Hanoitimes - Grant Thornton has released the comprehensive report on Vietnam’s hotels and resorts in 2017. The average room rate for five-star hotels in Vietnam in 2017 recovered from a 2.2% decline from the previous year, picking up 4.2% to US$107, according to a recent survey by the US-based audit, tax, and advisory service provider Grant Thornton. InterContinental Hanoi Westlake. Four-star hotels experienced a similar trend, seeing their rates climb 1% to US$75.2 last year. The revenue per available room continued to go up in both star categories, with a 7.6% rise at four-star hotels and a 10.2% rise in five-star hotels. The revenue per available room growth last year is lower than that of 2016 at four-star hotels, while much higher in the five-star category. The survey also found that holidaymakers and visitors travelling in a group accounted for 60% of guests at luxury hotels. Those on business trips slight rose by 0.5%. Travel agencies and tour operators … [Read more...] about Vietnam’s five-star hotel room rate rebounds in 2017: Grant Thornton
Five-star hotel room rate rebounds in 2017: Survey
Lotte Center Hanoi is a complex of high-class apartment, Grade A office, 5-star hotel and modern shopping center. (Illustrative image. Photo: VNA) Ho Chi Minh City (VNA) – The average room rate for five-star hotels in Vietnam in 2017 recovered from a 2.2 percent decline from the previous year, picking up 4.2 percent to 107.6 USD, according to a recent survey by US-based audit, tax, and advisory service provider Grant Thornton. Four-star hotels experienced a similar trend, seeing their rates climb 1 percent to 75.2 USD last year, the Hotel Survey 2018 by Grant Thornton revealed. This year’s report marks the 15th consecutive year of the US firm conducting the comprehensive research on high-end hotels and resorts in Vietnam. According to the survey, Vietnam welcomed 86 million domestic and international visitors in 2017, an increase of 19 percent from 2016. To accommodate the increasing arrivals, a large amount of investment was pumped into the country’s hospitality … [Read more...] about Five-star hotel room rate rebounds in 2017: Survey