A number of upscale hotel brands have come to Vietnam in anticipation of a tourism boom in the future.

Since the fourth wave of Covid infections, while other tourist spots have been busy, hotels in HCMC are still seeing a lackluster response, almost six months after the city reopened.

Many hotel owners in Ho Chi Minh City yesterday said that the number of booked hotel rooms has increased from 10 percent to 20 percent.

Five-star hotel brands are ready to receive travelers back to the country with the strong belief that the tourism industry is coming back to life.

Many hotels have been put on sale in Nha Trang and Danang cities due to losses caused by the Covid-19 pandemic.

Many offers to sell coastal hotels in Da Nang have appeared on real estate forums these days. Most of them are located in districts Son Tra and Ngu Hanh Son.

Fusion Suites Saigon on Suong Nguyet Anh Street in District 1, HCMC, is being listed for sale at VND1,165 billion (US$50 million).

Many hotels in Hanoi’s Old Quarter area are for sale due to big losses resulting from the Covid-19 pandemic.

The Hanoi People’s Committee has just proposed the government to extend the operational duration of boutique hotel Metropole Hanoi to 70 years, surpassing the framework of current regulations.

VietNamNet Bridge – One of Vietnam’s largest estate developer Sun Group has launched the first five-star hotel named Hotel de la Coupole - MGallery by Sofitel in Sa Pa, a mountainous realm of awe-inspiring beauty of Vietnam.

Hotels have launched recruitment campaigns for middle and senior managers, as well as for untrained workers.

VietNamNet Bridge - The HCMC hotel market this year has welcomed many foreign brands, including Mandarin Oriental, Movenpick and Best Western Premier. 

HCMC is leading the country in the number of foreign travelers, amounting to 50 percent of the total to Vietnam. However, it lags behind other localities in the development of hotels. 

VietNamNet Bridge - The construction industry is experiencing good days thanks to the warming up of the real estate market. 

VietNamNet Bridge - The demand for hotels in HCMC has been increasing rapidly, prompting investors to pour capital into hotel projects. However, it is difficult to find advantageous land plots to develop hotels.

VietNamNet Bridge - The increasing number of travelers and government policies to boost tourism development have prompted investors to build hotels.

VietNamNet Bridge - While the number of travelers to Vietnam has been increasing rapidly, the number of guests staying at high-end hotels has not risen.

The Central Group from Thailand has poured money into supermarkets, home appliance distribution chains, hotels, fashion shops, export and wholesale, and is developing 160 shops/supermarkets. 

The competition in the market is heating up and luxury hotel developers are struggling to scramble for clients. Still, the market is large enough thanks to the increasing number of travelers to Vietnam.