The recovery of tourism, especially its international segment, is seen to be the driving force for the hotel market to prosper, with improvements in both occupancy and room rates, said experts from the real estate agency Savills Vietnam.
According to data from the General Statistics Office, last year, Vietnam hosted a total of over 100 million tourist arrivals, including 3.7 million foreigners, a year-on-year increase of nearly 2.3%. The upcoming reopening of flights between Vietnam and China is also expected to greatly benefit the hotel sector.
In addition to holidaymakers, the industry also sees impressive demand coming from those on working trips and foreign investors.
Statistics from Savills Vietnam showed that the occupancy of three-star hotels in Hanoi reached 49% in the fourth quarter of 2022, up 22% annually. The rate for five-star hotels, meanwhile, hit 60%.
The agency said there will be eight new hotel projects – capable of offering about 1,30♈0 rooms in total – built in the capital this year./.
