HCM City hotel supply to rise by 2 per cent

Tuesday, Jul 15, 2014 17:44

Ho Chi Minh City. — File Photo

HCM CITY (VNS) — The supply of three- to five-star hotel rooms in HCM City is expected to rise 2 per cent this year with a four-star property set to begin operations later this year, according to Savills Vietnam.

The consulting firm's associate director for residential services, Truong An Duong, said the new hotel with 100 rooms will increase the total room number to 12,800.

He told participants at a recent seminar on the city property market development that in the second quarter a new three-star hotel opened with 85 rooms. A renovated hotel with 86 rooms resumed operations while another with 61 rooms closed temporarily for upgrades.

The average occupancy in the second quarter, the low tourist season, was 61 per cent, down 13 percentage points from the previous quarter but unchanged from the same period in 2013.

The average room rate was US$81/room/night, a year-on-year 4 per cent decrease as hotels offered competitive rates and promotions to attract guests.

The revenue per available room in the central business district (CBD) was US$57, a 6 per cent fall but still 58 per cent higher than in other areas.

The non-CBD area saw a year-on-year improvement of 13 per cent in revenue per available room and 13 per cent in occupancy rate.

There were 830,000 international visitors to the city in the second quarter, a 3 per cent fall year-on-year that negatively impacted hotels' performance. — VNS

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