Viet Nam new hotel room supply declines slightly: Savills

Monday, Oct 08, 2018 18:21

Visitors in downtown HCM City. — Photo

Hotel room supply in HCM City in the third quarter of the year was down 4 per cent year-on-year to 15,800 rooms at 127 hotels, according to Savills Vietnam’s 3rd Quarter Market Briefing.

One 5-star and two 3-star hotels in HCM City with 393 rooms closed for renovation during the period.

The low season saw average occupancy remain unchanged year-on-year.

Meanwhile, the average room tariff rose by 3 per cent year-on-year, a significant improvement in the context of increasing competition between tourism destinations.

By 2020 another 3,000 rooms in 15 properties in HCM City are expected to enter the market.

In the year-to-date the number of international visitors shot up by 23 per cent to 11.6 million, with Asian markets like South Korea, mainland China, Malaysia, and Taiwan continuing to be the main source markets, according to the Viet Nam National Administration of Tourism.

HCM City alone received more than 5.4 million foreign visitors, up 21 per cent year-on-year, according to its Department of Tourism.

Its tourism revenues were worth an estimated VND98.4 trillion (US$4.21 billion), a year-on-year increase of 18 per cent. —VNS

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