Hanoi’s hotel market, particularly the five-star segment, performed well through peak season in the last quarter of 2014, reported the international real estate service firm Savills Vietnam.

The occupancy rate rose by 3 percentage points and the average room revenue (RevPAR) increased 3 percent from 2013. The five-star segment’s occupancy rate experienced a 10 percentage point increase alone.

Overall, five-star hotels accounted for 56% of the market share while four-star hotels contributed the least to the total revenue.

An additional 30 hotels will be opening in 2015 onwards, nearly 72 percent of which are expected to be five-star quality. The new facilities will offer approximately 5,000 rooms.

According to the Hanoi Department of Culture, Sports and Tourism, a total of 18.4 million tourists arrived in Ha Noi last year, an 11 percent increase from the previous year. Three million of which were international visitors, representing a 16 percent increase from 2013. The volume of Korean, English, American and French tourists has continued to increase, peaking at a 50 percent annual growth.-VNA