HCMC’s revenue from accommodation in the first quarter of 2023 (Q1/2023) reached VND2, 281 billion (US$97 million) while the average room price was VND1.9 million per room/night, presenting a quarter-on-quarter rate of growth of 5 percent.
According to a new report by Savills Vietnam, the occupancy of hotels in HCMC in Q1/2023 was 68 percent, showing a quarter-on-quarter rate of growth of 6 percent. The city maintained a supply of approximately 15,500 rooms provided by 109 hotels in the city.
The average price for a room at five-star hotels was VND2.8 million per room/night, presenting a year-on-year increase of 54 percent.
Binh Thanh District had the highest average room rate, reaching 99 percent, followed by District 1 up 87 percent.
Although the operation situation has not yet reached the 2019 output levels before the Covid-19 outbreak, the market is looking forward to positive prospects.
By Duc Trung – Translated by Kim Khanh
