Vietnamese Tiếng Việt | Thursday, January 24, 2019 | Advertise with Us
   
Text Size

Vietnam’s hotel market attracts foreign investors

Share
(0 votes, average 0 out of 5)

Vietnam’s hotel market has followed an upward trend recently with an increasing number of projects bearing foreign brands with foreign managers.

Vietnam’s hotel market attracts foreign investors, vietnam economy, business news, vn news, vietnamnet bridge, english news, Vietnam news, news Vietnam, vietnamnet news, vn news, Vietnam net news, Vietnam latest news, Vietnam breaking news

The number of projects increased from 30 in 2010 to 79 by late 2017. The growth was clearly demonstrated through the appearance of new management brands in the market early this year such as Mandarin Oriental and Movenpick in Ho Chi Minh City and Best Western Premier in Quang Binh.

Mauro Gasparrotti, director of Savills Hotels Asia-Pacific, says the hotel market in Vietnam is growing rapidly and the leisure segment’s potential will lure more investors.

Over the last two years, Vietnam has seen a rapid growth in the condotel market. According to Savills Hotels, condotels make up nearly 25% of the total supply of hotels currently and will account for around 65% of the total supply at main tourism markets by 2020.

The Vietnam National Administration of Tourism reports that Vietnam welcomed 6,708,428 foreign visitors in the first five months of this year, a year-on-year rise of 27.6% and 36.2 million domestic tourists in the period with a total estimated turnover of VND260, 200 billion from tourism.

Strong tourism growth will lay a foundation for the development of Vietnam’s hotel market.

 

 

Source: VOV 

Maybe You Also Interesting :

» Foreign investors double-crossed by labour shortage in Vietnam?

Continuously expanding foreign businesses and the wave of foreign investors relocating from China may make the chronic shortage of skilled workers more dire in...

» Malaysia ranks 12th among Việt Nam’s foreign investors in 2018

Malaysia ranked 12th among the countries and territories investing in Việt Nam in 2018 with total registered capital hitting US$435.54 million, according to...

» Foreign investors keen on expressways in Vietnam

Former U.S. Ambassador to Vietnam Pete Peterson, speaking at a meeting with Prime Minister Nguyen Xuan Phuc on January 18, said foreign investors have...

Login