Saigontourist back in the black

By Tat Dat June 6, 2023 | 03:05 pm PT

Saigontourist runs Rex Hotel in District 1, Ho Chi Minh City. Photo courtesy of Rex Hotel

Tour operator Saigontourist made after-tax profits of VND294 billion (US$12.4 million) in 2022, after incurring losses for two years.

Saigontourist gained revenues of VND 4.1 trillion, up 3.6 times against 2021, according to its latest audited consolidated financial statements.

The firm reported a loss of VND534 billion in 2021, its highest ever, as the pandemic wrecked the tourism industry.

Saigontourist owns and operates over 50 hotels and resorts with a total of more than 8,000 rooms nationwide.

Vietnam plans to welcome 110 million visitors, including 102 million local tourists and 8 million international visitors, and make total tourism revenues of VND650 trillion this year.

The country hosted 101.3 million local tourists and over 3.6 million international arrivals last year, according to the Vietnam National Administration of Tourism.