HCMC hotel occupancy hits record low

By Nguyen Quy   January 24, 2021 | 04:30 pm PT
HCMC hotel occupancy hits record low
A delivery man waits in front of Norfolk Hotel in HCMC's District 1, July 2020. Photo by VnExpress/Nguyen Nam.
HCMC’s average hotel occupancy rates dropped 54 percentage points year-on-year to 20 percent last year as Covid-19 travel restrictions hit foreign arrivals, a report says.

Over 3,600 hotel rooms were closed last year as the number of foreign tourist arrivals plunged 85 percent to 1.3 million, according to real estate consultancy Savills.

Average room rates fell 29 percent to $61 per night, the report said. Total supply fell 5 percent year-on-year to 15,200 rooms in 111 hotels.

The development of Covid-19 vaccines will help the industry improve over the next two years and it is expected to make a full recovery by 2024, the report said.

Vietnam halted all international flights from March 25 in an unprecedented move to stem the spread of the novel coronavirus.

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