The hotel market in Việt Nam this year is expected to face a severe decline in room occupancy due to the COVID-19 pandemic and will not recover until next year, industry experts have said.
Việt Nam is quickly emerging as a top global travel destination and a key focus market for international hotel groups.
Given the boom in the number of Chinese tourists in HCM City, authorities have been urged to take preventive measures against the so-called “zero-đồng” tours that cater to these tourists and adversely affect tourism revenue.
HCM City’s hotel market, especially the luxury segment, is attractive to investors due to the relentless rise in tourist numbers.
Four- and five-star hotels in HCM 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.