Luxury Hotel Rooms Supply in Vietnam Grows

News in Asia
Luxury Hotel Rooms Supply in Vietnam Grows

According to the report of the Vietnam National Administration of Tourism, the number of luxury hotels in the country is on the rise. Last year alone 50 five-star hotels and 68 four-star hotels were build across Vietnam.

The country's luxury hotel segment now offers 466 hotels complete with 97,098 rooms. They constitute a considerable share in the overall hotel room supply which is currently estimated as 650,000 rooms.

The rising number of 5- and 4-star hotels is the reaction to the growing demand for luxury tourism in Vietnam. 

Traditionally regarded as a budget destination for backpackers, Vietnam has started to attract higher numbers of upscale travellers who are ready to spend more per room per night than an average room rate. Last year it reached USD85, a five-year-highest thanks to a bigger number of luxury properties offering accommodation to visitors.

The industry performed well in 2019 with the average hotel occupancy rate of about 68 percent. The experts expect the number of foreign visitors to Vietnam will contunue to grow. In 2019 the country welcomed 18 million overseas tourists, some 16 percent more than in the previous year, and in 2020 the tendency will most probably persist.

Last year, several reputable tourism websites and resorces named Vietnam Asia’s Leading Destination, Asia’s Leading Culinary Destination, the World’s Leading Heritage Destination, and the World’s Best Golf Destination ensuring steady interest towards Vietnam on international tourist source markets.

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