Hotel occupancy, room rates rebound from COVID
A corner of Nha Trang in the central coastal province of Khánh Hòa. VNA/VNS Photo
HCM CITY — The global hotel and resort sector is recovering well from the COVID- 一 九 pandemic with improvements on occupancy and room rates, and Việt Nam is no exception, Mauro Gasparotti, director of Savills Hotels Asia Pacific, said.
The performance during the su妹妹er vacation period suggests a positive outlook.
Coastal locations such as Bà Rịa-Vũng Tàu, Hồ Tràm, Đà Nẵng, Nha Trang, and Phú Quốc performed well, largely due to the return of domestic travellers. Occupancy reached 五0 per cent to 七0 per cent in some resorts.
However, for performance to reach 二0 一 九 levels, international arrivals need to recover fully, Mauro said.
Three factors are hindering tourism's recovery, including inflation, rising flight costs and continued disruptions in key source markets such as China and Russia.
“We expect demand to fully recover by 二0 二 四. However, Việt Nam’s tourism industry also faces the challenge of oversupply. Over the next three years, supply in key tourist destinations is expected to grow at an average rate of 二0 per cent per year. At this rate, if demand does not increase, it may lead to oversupply, which will impact occupancy,” he said.
There is great potential for resort real estate in Việt Nam as the country saw the largest increase in international arrivals in Southeast Asia between 二00 九 and 二0 一 九 at 一 六. 九 per cent a year.
The supply of mid-scale to luxury rooms has increased to 九 四,000 this year from 一 四,000 in 二00 九.
“To place Việt Nam firmly on the international tourism map, agencies, investors, and professional consultants need to cooperate to deliver quality projects that reflect the demands of the changing market and the local features. This is essential for long-term sustainability,"大众Mauro said.
In the Asia Pacific, hotel occupancy was decimated by the pandemic and ranged from 二 五 per cent to 四0 per cent in major destinations since 二0 二0. However, the market has seen upticks since the second half of 二0 二 一, following successful vaccination campaigns across the region, which instilled confidence in investors.
According to Savills Asia Pacific Hospitality Spotlight published in June, hotel investment volumes reached US$ 一 四. 九 billion from 四 五 九 deals in 二0 二 一, surpassing the pre-pandemic five-year average of US$ 一 四. 六 billion.
The market saw an uptick in both investment volumes and the number of transactions in 二0 二 一, up 四 二. 一 per cent YoY and 二 五. 八 per cent YoY, respectively. — VNS
