HCM City hotel prices drop

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

Other news

Most view

Aeon Mall in Tan Phu district, HCMC (Photo: SGGP)

Hai Phong city speeds up Aeon Mall project

Hai Phong city’s Investment, Commerce and Tourism Promotion Center, Aeon Mall Vietnam Company and Viet Phat Import Export Trading Investment Company have co-signed an agreement to speed up the progress of Aeon Mall Hai Phong project.



Committee reviews marine economy

The National Assembly (NA) Standing Committee yesterday reviewed the development of the marine economy along with national defence and security in 2011-16.

Self - introduction

Stock market

SMC buys 2mln shares of Nam Kim Steel

SMC Investment & Trading JSC (SMC)'s shareholders have approved plan to buy 2 million shares of Nam Kim Steel Corp (NKG), priced at VND 27,000 per share in September.