Many HCM City hotels are complaining that they are getting few customers these days.
In the first week of last month the occupancy rates at luxury hotels dropped by 10-20 per cent.
One hotel on Dong Khoi Street reported an occupancy rate of just 50 – 60 per cent.
Hotels located further from the central area have even fewer clients. A five-star hotel in District 5 only had a 36 per cent occupancy rate in the first quarter of this year, according to a survey done by the Sai Gon Economic Times.
Vien Dong hotel on Pham Ngu Lao Street reported a rate of 50 per cent, which is lower than the 70 per cent it had last year.
Other hotels have also slashed their room rates. Majestic now quotes a rate of US$145 a night instead of $170. Some high-grade hotels on Dong Khoi Street have slashed their rates from $198 to $163. — VNS