5-star luxury just gets cheaper at Saigon's top hotels

Five-star room rates in Ho Chi Minh City have fallen by 6 percent from a year ago thanks to more luxury facilities and increased competition.

A new report from real estate consultancy firm Savills said hotel room rates in the southern metropolis dropped to an average of $78 per night in the second quarter.

Room rates fell 6 percent from a year ago to $117 at five-star hotels, and by 3 percent to $66 at four-star facilities.

There was a slight increase of 1 percent for three-star hotel rooms to $45 per room per night.

The report, which was released on Monday, said overall supply has risen by 7 percent on-year to 16,500 rooms.

Foreign arrivals in HCMC increased 14 percent to 2.8 million in the first half, making it the country’s top tourist destination among foreigners.

The megacity plans to add a further 1,000 rooms to cope with an expected jump of 15 percent in visitors this year to six million, according to a May report by the JLL Hotels & Hospitality Group.

As the country’s most crowded city with 12 million people, HCMC still has problems to deal with such as traffic and street attacks, but has continued to prove itself as a destination that has something for everyone.

Tourists can enjoy the contrast of a modern commercial center and historical sites such as the War Remnants Museum and the Independence Palace.

Its wartime Cu Chi Tunnels and the 130-year-old Central Post Office were recently named by TripAdvisor users among the top landmarks in Asia.

The city was hailed by top U.S. lifestyle magazine Food and Wine in May as an ideal place for retiree travelers, thanks to the convenient and luxury facilities it has to offer.

New data from Airbnb, an accommodation service that allows people to list their homes and hotels for holiday rentals, shows that the city is one of the friendliest destinations for those who want to travel alone, with solo bookings surging 146 percent in 2016, second only to Cancun in Mexico, according to media reports last month.

Price of Travel, a travel cost database, in April ranked Saigon the world’s third cheapest city, where backpackers only need $18.33 a day for meals, beer, a place to stay, public transport and an entrance fee to a top attraction.

With the new hotel rates, it’s obvious that the city can offer a good price for travelers with larger wallets as well.

 

 

5-star luxury just gets cheaper at Saigon's top hotels

How much money backpackers really need for a day in Hanoi and Saigon