Analysts from real estate consultant Jones Lang LaSalle have said domestic and foreign investors alike are actively seeking to purchase high-end hotels in downtown areas, mostly due to limited land supply.
Four- and five-star hotels in Ho Chi Minh City have seen a slight decline in room rates although the rising number of tourists has resulted in an increase in occupancy rates at high-end hotels.
High-end hotels in Hanoi have been fully booked by Q1, 2018, showing a robust sign, especially when the city is carrying out a myriad of investment solutions to make a breakthrough in tourism.
Southern Kien Giang province aims to build the image and brand name of the island district of Phu Quoc to make it a high-end tourism destination by 2020.
Revenue per available room (RevPAR) for four and five-star hotels and resorts showed a sharp increase in H1 compared to a year earlier, rising 13.7 percent to 69.1 USD.
Average room rates in upscale hotels and resorts across Vietnam saw a
slight increase in 2014 even as occupancy rates decreased, according to a
survey by auditing and consulting firm Grant Thornton.
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