HCMC hotel rates jump in Q3

By Vu Le   October 19, 2022 | 08:43 pm PT
HCMC hotel rates jump in Q3
HCMC’s central business districts have many hotels. Photo by VnExpress/Quynh Tran
Room tariffs at four- and five-star hotels in HCMC in the third quarter were 22% up from the previous quarter and 50% up year-on-year, according to Savills Vietnam.

The average rate was VND1.7 million (US$69.30) per night, the property consultancy said.

It also reported that the average occupancy rate for all hotels was 58% in the third quarter, a quarter-on-quarter increase of 19 percentage points.

VnExpress found that rents at two- and three-star hotels in HCMC’s downtown areas were up 10-15% respectively to $22-25 per night and $30-40.

Savills said two new four-star hotels and three three-star hotels opened in the third quarter.

The city, the most popular tourist destination in Vietnam, received 10 million domestic visitors, or 45% of the country’s total, up 69% from the second quarter, and 1.6 million foreign visitors, up 240%.

More foreign and domestic tourists are expected to come later this year and early next year when some major traditional festivals and cultural events are slated to be held.

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