Ho Chi Minh City is about to explode luxury hotels

13/06/2017   Viewed: 883
Currently Ho Chi Minh City has only 35% of luxury hotel supply, but in the period 2017-2020, the market will mainly focus on the luxury segment.
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HCMC hotel market will receive new supply in the luxury segment in the next 4 years.

Jones Lang LaSalle (JLL) Vietnam has just released a report on hotel investment destinations in 26 cities worldwide, with Vietnam including Ho Chi Minh City and Hanoi making the list. Particularly, Ho Chi Minh City is impressed by the increase in quantity supply in terms of quality.

In 2016, Saigon received 703 new hotel rooms but by 2017 it is estimated that more than 1,000 new rooms will enter the market. The number of high-class rooms with international and domestic brands accounted for 35.4%, medium-grade reached 27.8%. However, in the period 2017-2020, HCMC will mainly focus on the luxury segment, accounting for 48.4% of the market supply and high-end accounting for about 42.4%.

The move and promotion of the hotel supply in HCMC show that the market is moving forward. This unit forecasts that by 2020 the city will have 3,500 more rooms.

International arrivals to HCM City are expected to reach 5.2 million in 2016, up 10.6% from the previous year and beyond the 8.5% increase expected by the government. During the period from 2011 to 2016, the city registered a CAGR of 10.9%. This growth is attributed to the city's efforts to increase flights and spend more on festive programs, focusing primarily on culture and ecotourism as well as on trips. Travel calendar and international traveling show.

International visitors to Vietnam come mainly from China, Korea, Japan, and the United States. Ho Chi Minh City continues to promote its image in Japan, and the city is also looking to expand new markets such as Russia and India. These are two potential growth markets; international arrivals to the city are expected to reach nearly six million by 2017. The domestic tourist market for this economic and leisure center has reached 21.8 million. Millions of visitors in 2016 and 247 targets for 2017.

According to Condé Nast Travele Magazine, HCMC is one of the 50 most beautiful cities in the world and is rapidly becoming an international tourist destination, thanks to government promotion efforts as well as the improvement of tourist destinations. Calendar and safety. By continuously upgrading museums, monuments and approving the development of eco-parks (safari) and the Saigon Cultural Tourism Village, Ho Chi Minh City is still developing a tourism development strategy until 2030 and In the years to come towards sustainable tourism development.

Source baoxaydung

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