The “tsunami” of hotels shutting down during this surge is having the biggest impact on workers, especially those working in low-level positions.

The hotel industry is facing arguably its greatest challenge as the impacts of COVID-19 keep away foreign visitors from the country.

Foreign investors are actively seeking investment opportunities with higher returns in Vietnam via operating hotel assets with in-place cash flow.

The hotel room redundancy is deepening in various parts of the country, especially Nha Trang City in Khanh Hoa Province, despite, paradoxically, a steep rise in international visitor arrivals in the past few years.

With an expanding room inventory and a lot of projects scheduled to launch in the near future, the competition in the upscale hotel market will start to heat up, especially in the five-star segment, 

 VietNamNet Bridge – The two- to four-star hotel market segment, with an average occupancy rate of 70 percent, is being eyed by many wealthy investors.

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 VietNamNet Bridge – Demand for hotel rooms in Viet Nam has grown at 7-8 per cent a year for the last three years, and occupancy rates in large cities are catching up with those in major cities across the region,