HCM City hotel prices drop

SGGP
Room prices of 3-4-5 star hotels in Ho Chi Minh City have decreased according to Savills Vietnam.

Hotel Majestic Saigon  (Photo: KK)

Hotel Majestic Saigon (Photo: KK)

Revenues in the second quarter have averagely decreased 3 percent; earnings for a year have averagely declined 7 percent to US$78/room/night because of the competitive pressure.
Meanwhile the booking capacity sees an increase, showing a significant improvement.
Savills’ report said that Ho Chi Minh City received 2.8 million international visitors in the second quarter, accounting for 46 percent of 2017 target.
The city has seen 133 hotels with 16,500 rooms and is expected to be add more about 3,200 rooms in the third quarter of this year.

By MINH HAI – Translated by Kim Khanh

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