High-end hotel boom in Nha Trang set to continue

Around 3,200 rooms in six four- and five-star hotels will enter the market in Nha Trang this year, according to property services provider Savills Vietnam.
Around 3,200 rooms in six four- and five-star hotels will enter themarket in Nha Trang this year, according to property services providerSavills Vietnam.

With the opening of two four-star and onefive-star properties last year, there are over 4,000 rooms availablenow, a 24-percent rise from 2013.

Since 2007, the number ofinternational visitors to central Khanh Hoa province, whose capital isNha Trang, has risen by 18 percent annually. Last year there were morethan 850,000 besides 2.8 million domestic visitors.

The hotelmarket's performance was weaker in 2014 than the previous year due tothe sharp increase in number of rooms and belt tightening by Russiantourists, the most numerous of all foreign visitors. The occupancy ratedipped by 6 percentage points to 70 percent.

Besides, last yearthe average room rate at four- and five-state hotels too slid by a huge14 percent to 2.7 million VND (126 USD) per night.

Both segmentsthus saw a decrease in revenue per available room to around 3 millionVND/room/night for five-star and 1 million VND for four-star hotels.-VNA

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