As there are few guests, many 5-star hotels have shifted to selling Tet food to survive the pandemic.

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.

 Vietnamese market attracts multinational groups;  Foreign firms boost trade promotion in Vietnam; Foreign exchange market to be stabilised; Billion dollar projects awaken central region; Vietnam to sell 30,000 tonnes of rice to Iraq

 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,